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Recent increases in apartment prices in Seoul have led to increased research on factors influencing apartment prices. This study focused on Mapo-gu, and the findings are as follows: Factors positively affecting apartment prices include total number of households, number of floors in the building, distance to middle schools, and distance to the Dangin-ri thermal power plant. Factors negatively affecting apartment prices include floor area, contract duration, distance to Mapo Resource Recovery Facility, and elapsed duration. Of particular note in this study is that the distance to the Dangin-ri thermal power plant does not influence apartment prices. As the distance to the Dangin-ri thermal power plant decreases, positive effects are observed. Factors such as the absence of fuel storage, underground facilities for major facilities, and park development on the site seem to be at play. This contrasts with the previous trend where operational thermal power plants were considered factors negatively affecting apartment investment decisions.Such findings could contribute to further analysis of investment decision factors for apartments in Mapo-gu in the future.
Park et al. (Sun,) studied this question.