뉴타운사업에 따른 비아파트 전세가 상승효과 분석

초록

There have been continuing disputes on soaring Chonsei price in the local housing market caused by residential redevelopments in Seoul. However, there are little studies to measure the actual magnitude of the effect and its timing. This study develops an analytic framework to measure the differentiated local rental price effect occurred in each step of redevelopment process. For the analysis, the concept of relative Chonsei price is adopted to control the effects of macro economic conditions and overall demand and supply conditions in the Seoul's market as a whole. Also, Chonsei price data for non-apartment housing is used since main substitute housing for the old residents in redevelopment sites is non-apartment housing. The analytic results show that the rise in relative Chonsei price in the local market occurs only in the move-out period of the old residents in the site. Its magnitude is about 2.0%. However, it increases to about 2.4% when dual projects are in progress in the same local market.

키워드