Differential effects of public housing by type on nearby housing prices : Focused on the SHift and National rental housing in Seoul

Due to the stereotypes that PublicRental Housing could affect negatively in housing prices, local residents often oppose the construction of publicrental housing. Meanwhile, the government has recently diversified the types of publicrental housing, such as SHIFT(Long-term rental housing) and National rental housing, to embrace the demands of single-personhouseholds, young people and newlyweds. In this situation, we have focused on the possibility that publicrental housing may have different effects on nearby housing prices depending on the types and characteristics of publicrental housing. To analyze the effect of publicrental housing supply, we choose the case study sites through serial processes, and applied the Modified Repeat Sales Model with the concept of Difference-In-Difference method. The results show that the supply of publicrental housing affects housing price decline and the magnitude of this effect varies by the type of publicrental housing.