Speaker
Description
Despite growing evidence highlighting the importance of mixed income developments, there is limited knowledge of which mixed-income subsidized housing developments contribute more or less determining nearby property values. This study address this gap by examining the impacts of mixed-income subsidized housing developments at various types on nearby apartment property values in Seoul, Korea. This study categorizes subsidized housing developments into no-mixed public housing complexes, mixed-income but separated units, and mixed-income in same units. Based on these categorization, this study employed the Adjusted Interrupted Time Series-Difference in Differences (AITS-DID) model to clarify the causal direction of the impacts of public housing developments on neighboring housing prices. In particular, this model specifies the levels and trends in housing prices over before and after public housing developments and determines the causal impacts of the developments. Additionally, this study compared housing submarkets stratified by median housing values to determine how the effects of public housing developments vary across advantaged and disadvantaged neighborhoods. The findings of this study offer valuable insights into enhancing mixed-income approaches through public housing developments and propose practical methods to improve social integration and reap the maximum economic benefit from mixed-income developments.
| Keywords | public housing; mixed-income developments; property values; causal relationships |
|---|---|
| Best Congress Paper Award | Yes |
