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This study examines the correlation between multifamily attached housing prices and the significance of urban planning facilities. Using data on 12,228 actual transaction prices in Busan for 2022, provided by the Ministry of Land, Infrastructure, and Transport, we conducted an empirical analysis to identify factors affecting multifamily attached housing prices. To precisely analyze the regional characteristics at higher levels, we employed a Multilevel Model, which allows for hierarchical structuring and analysis. The level-2 regional factors in the model include area ratios of public, cultural, sports, spatial, transportation, distribution, supply, disaster prevention, health and hygiene, and environmental facilities. At the level-1 individual factors, all variables except for the floor area ratio significantly influenced multifamily attached housing prices. Positive effects were observed for all variables except for area and building age. At level-2, which considered the group characteristics of the lower-level data, spatial and transportation facilities were significant. Spatial facilities had a positive (+) effect, while transportation facilities unexpectedly showed a negative (−) relationship. This study highlights the need for policies aimed at increasing green spaces and parks, reducing traffic noise, and ensuring a balanced distribution of urban planning facilities.
Hwang et al. (Sat,) studied this question.
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