2 years ago

Improved apartment quality in Gangnam-gu boosts housing prices significantly.

Korean Association for Housing Policy Studies
Price Effect Analysis by Improving the Qualitative Characteristics of Apartment Buildings by Period in Gangnam-gu
Song Ji Yu, Jaehee Kim, Young Sun Song, Chang Moo Lee

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Improving the quality of apartment buildings in Gangnam-gu, Seoul has a positive effect on their prices. Different characteristics like age and quality features influence the prices of apartments. The study found that enhancing the quality of apartments over time has a significant impact on their prices, with some features having a greater effect than others. This means that as apartments age, the price effect is partly due to improvements in their quality.