아파트 가격에 대한 주거용 난방방식의 영향 분석 : 한국 인천광역시 계양구의 실증적 연구

Translated title of the contribution: Analysis of the influence of residential heating method on apartment prices : An empirical study of Gyeyang-gu, Incheon, Korea

Research output: Contribution to journalArticlepeer-review

Abstract

The purpose of this study is to empirically investigate the effect of residential heating methods on apartment prices in an urban area in South Korea and to derive implications. For this purpose, 1,213 apartment sales data in Gyeyang-gu, Incheon, a large city in South Korea, Where individual heating, central heating, and district heating systems are mixed, were used. The apartment price equations were estimated by considering the heating method as an attribute inherent in the apartment, and the effect of each heating method on the apartment price was investigated using the hedonic price technique while other factors were kept constant. A total of 10 equations were estimated with different estimation methods. By finally selecting the equation with the smallest prediction error, it was made to select the optimal equation when the dependent variable is different. As a result, the apartment price equation was statistically significant, and the apartment price to which the district heating system was applied was significantly higher than others. The difference was statistically significant at the significance level of 5% and accounted for about 8.7% of the apartment price. It should be noted that this study was conducted for a specific area in South Korea, but it is important to note that heating method acts as an attribute inherent in the apartment, so that consumers prefer apartment with district heating systems over other heating systems. In addition, since the price premium of district heating apartment causes an increase in apartment prices that exceed the construction cost burden paid by district heating consumers at the time of moving in, the results of this study can be referred to in the process of determining heating methods for future redevelopment and reconstruction.
Translated title of the contributionAnalysis of the influence of residential heating method on apartment prices : An empirical study of Gyeyang-gu, Incheon, Korea
Original languageKorean
Pages (from-to)177-193
Number of pages17
Journal한국혁신학회지
Volume17
Issue number2
DOIs
StatePublished - May 2022

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