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The purpose of this paper is to evaluate the external effects of public rental apartment districts on the price of the surrounding freehold apartments through multiple regressions. The case studied is Young-In Dong-Baek Area. The facts found through two types of multiple regression models are summed up as follows; First, it turns out to be real that public rental apartment districts have negative external effects on the price of the surrounding freehold apartments. Second, the spatial boundary of the externality reaches about six hundred meters from the center of a nearby public rental apartment district. Third, apartment prices come under the influence of the condition whether the district containing a certain freehold apartment is connected with a public rental apartment district or not. But, they are even more strongly affected by the condition whether the district containing a certain freehold apartment is located within six hundred meters from a nearby public rental apartment district or not. Finally, if the district containing a certain freehold apartment is located within six hundred meters from a nearby public rental apartment district or connected with it, the seller's demanding price of the apartment tends to be lower than other cases.


The purpose of this paper is to evaluate the external effects of public rental apartment districts on the price of the surrounding freehold apartments through multiple regressions. The case studied is Young-In Dong-Baek Area. The facts found through two types of multiple regression models are summed up as follows; First, it turns out to be real that public rental apartment districts have negative external effects on the price of the surrounding freehold apartments. Second, the spatial boundary of the externality reaches about six hundred meters from the center of a nearby public rental apartment district. Third, apartment prices come under the influence of the condition whether the district containing a certain freehold apartment is connected with a public rental apartment district or not. But, they are even more strongly affected by the condition whether the district containing a certain freehold apartment is located within six hundred meters from a nearby public rental apartment district or not. Finally, if the district containing a certain freehold apartment is located within six hundred meters from a nearby public rental apartment district or connected with it, the seller's demanding price of the apartment tends to be lower than other cases.