신축약정 매입임대주택이 주변 주택가격에 미치는 영향 - 서울 영등포동, 창천동 오피스텔 사례를 중심으로

The Impact of Purchased Rental Housing under New Construction Agreements on Nearby Housing Prices : Evidence from Officetel Cases in Yeongdeungpo-dong and Changcheon-dong, Seoul

In recent years, the Korean government has expanded purchased rental housing to accelerate the supply of public housing in Seoul. In particular, housing acquired under new construction agreements has increasingly been utilized, despite limited empirical evidence on its market effects. This study examines the impact of purchased rental housing under new construction agreements, acquired by the Seoul Housing & Communities Corporation (SH), on nearby housing prices. The analysis focuses on two youth-oriented officetel complexes (each comprising over 150 units) located in Changcheon-dong and Yeongdeungpo-dong 3-ga, acquired between 2020 and 2023. Using transaction data covering six months before and after both the contract date and the occupancy approval date, the study employs a Difference-in-Differences (DiD) approach to estimate changes in sales and rental prices. The findings indicate that price effects vary by timing and location. Rental prices exhibit stage-specific responses, whereas sales prices are not significantly affected. These results suggest that the market impacts of such housing are context-dependent and underscore the importance of policy design that accounts for local conditions and implementation timing.