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청계천 복원에 따른 지가 영향 (A study on the property value impact of Cheonggyecheon restoration)

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  • 청계천 복원에 따른 지가 영향 (A study on the property value impact of Cheonggyecheon restoration)
  • Chang, Yukyoung; Hwang, Keeyeon장유경; 황기연
  • 대한국토 도시계획학회


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Title 청계천 복원에 따른 지가 영향 (A study on the property value impact of Cheonggyecheon restoration)
Similar Titles
Material Type Article
Author(English)

Chang, Yukyoung; Hwang, Keeyeon

Author(Korean)

장유경; 황기연

Publisher

서울 : 대한국토 도시계획학회

Date 2013-06
Journal Title; Vol./Issue 국토계획:vol. 48(no. 3)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Economic Administration
Territorial Development < National Land Development
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Abstract

Cheonggyecheon is an ancient stream flowing the downtown in Seoul which was covered by roads and elevated highway in the city’s economic development period. Seoul metropolitan government decided to revitalize this dried stream under the covering and its desolated district into a linear park and to provide to the citizens an urban amenity in 2002. The project completed in 2005 has had series of positive impacts, especially to activate walking and commerce in the area. Unlike elevated highway removals such as Big Dig project, this study reveals that Cheonggyecheon restoration has given land price premiums to the area with urban characteristics associated with clearness of the stream. These variables have altered their strengths on the property value according to the city’s business fluctuation. The global economic crisis in 2008 lessened the impact of urban amenity on the land price near Cheonggyecheon, while increasing that of the infrastructures such as bus accessibility.