In a city where the subway is planned to play a major role in forming the urban spatial structure, such as Seoul, understanding the spatial structure by looking at the station area as a whole will help to understand the role of the station area in the...
In a city where the subway is planned to play a major role in forming the urban spatial structure, such as Seoul, understanding the spatial structure by looking at the station area as a whole will help to understand the role of the station area in the metropolis.
This study is to conduct an empirical analysis of individual characteristics of station area land, urban planning characteristics, railway line characteristics, and structural characteristics of stations to see how direct and indirect factors of public transportation facilities affect land prices. And the purpose of this paper is to present urban planning implications for the provision of public transportation facilities for public benefit as city governments provide and encourage their use.
Previous studies have analyzed the factors affecting land prices as geographic, spatial, location, and economic factors, and found that the land price within the station area is not limited to any one factor, but is affected by various factors. In addition to the variables used in previous studies, the structural characteristics of subway lines and stations were used to analyze the impact of structure and convenience on land prices in station areas.. Ground stations, underground stations, elevated stations, the number of passengers, and the number of entrances can be seen as criteria for determining the convenience of using urban railroads, and if the relationship with land prices is analyzed using this characteristic, the effect of the convenience of station on the price can be identified.
This study conducted a stepwise regression analysis and used a multiple regression analysis method with only valid variables. The spatial scope of the study is a 500-meter radius of 300 station areas operating in Seoul, and the temporal range was the data from 2022 of the factors influencing land prices in the station influence area.
As a result, it was analyzed that the individual characteristics of the land, such as the land area and the building area, had a slight positive effect on the land price of the land of the station area. As for the land use variables, it was found that commercial (dummy) and residential commercial (dummy) had a positive effect on the land price, and land use for other uses (dummy) had little effect. Among the characteristics of urban planning, it was analyzed that the land price was positively influenced in the order of the southeast area (dummy), the urban area (dummy), the southwest area (dummy), and the northwest area (dummy). Among the zoning districts, commercial areas were positively affected, while green areas had almost no effect. In the urban railroad characteristics, distance form the station was found to have a negative effect on land value, but the effect was insignificant. Among the characteristics of urban railway lines, Seoul transportation (dummy), KORAIL (dummy), and private ownership (dummy) are each affected positively compared to other lines. In terms of station characteristics, the number of passengers and the number of entrances had a positive effect on the land price, while the number of transferable routes had little effect. In the structure of the station, ground level stations are not affected, while elevated stations are affected by the negative.
This study analyzes the factors affecting land prices in station areas in Seoul, and empirically analyzes the physical characteristics of urban railway stations, urban railway characteristics, land characteristics, and urban planning characteristics to identify causal relationships. Based on these findings, the urban planning implications are that when providing public transportation facilities, city governments should be aware of how the direct and indirect factors of public transportation facilities affect the value of land and consider the economic impacts of providing public transportation facilities for public purposes.
Land prices are an important factor because they have a decisive impact on the development and transformation of urban space, and they are also a barometer for identifying the center of urban space. Therefore, this study on land prices in the region's representative downtown areas is expected to contribute to the city government's establishment of development policies for downtown areas, and contribute to the realization of real estate market stability and even regional development.