분양전환 공공임대주택이 인근 민간분양주택가격에 미치는 영향: 성남시 분당구를 대상으로

Abstract

This study aims to analyze the impacts of the supply of public housing and the subsequent property conversion on nearby house prices. This study employs a difference-in-differences method and a spatial weight matrix technique to scrutinize such dynamics in Bundang-gu, Seongnam-si from 2006 to 2012, before and after the time of supply of public housing, and from 2017 to 2020, before and after the time of property conversion. The empirical results clearly suggest that, both at the time of supply of public housing and at the time of property conversion, public housing led to the nearby home value depreciation, but such impact has significantly been reduced at the time of property conversion. It is worth noting that most of the existing tenants have been transferred to buyers at the time of property conversion, and thus we can postulate that, rather than negative externalities that may stem from physical features of public housing, the negative perception and concern regarding public housing is a key driver of such impact. This particularly implies that relevant policy interventions are required to improve public awareness regarding affordable housing.