This study analyzed the extent of impact on the real estate market
in the surrounding areas when large-scale sports event facilities were
built in the region and proposed the decision on the basis of the results
of the results of the Pyeongchang Winte...
This study analyzed the extent of impact on the real estate market
in the surrounding areas when large-scale sports event facilities were
built in the region and proposed the decision on the basis of the results
of the results of the Pyeongchang Winter Olympics.
Real estate market was divided into land market and housing market
to analyze the effects on the real estate market caused by the
construction of stadiums in Pyeongchang, Gangneung and other regions.
The analysis of the impact on the land market has resulted in the
construction of official land price data by distance(2 km) from the
stadium. The actual extent of impact was analyzed by classifying land
price distributions by dot analysis and CHAID analysis of deployed data.
In case of housing market, the actual price of apartments within 2
km from the stadium was investigated in the last 5 years to determine
whether the distance from the stadium was considered a variable in
order to influence the housing price.
An analysis of the changes in land prices that occurred within the
2km from the Pyeongchang Olympics Plaza showed that the prices of
land were not significantly affected in the first section, and that they
were most likely to rise in the third round. On the other hand,
Gangneung Olympic Park can see a trend of falling prices as the
distance increases.
Next, the residential market around the stadium was able to analyze
only the Gangneung area, so it analyzed the factors influencing the
prices of apartments near Gangneung Olympic Park. Apartments with
larger numbers of rent and areas with larger areas will face higher
prices, and the higher the rate of change in official land prices and the
higher the volume of apartment transactions, the more influential the
price increase will be on apartments. It was also analyzed that the
closer the stadiums and Gangneung stations are, the higher the
apartment prices are built.
According to research, stadiums built to host international sports,
such as the Olympics, have a greater influence on real estate properties
in the urbanized area than those built in the non-urbanized areas.
Therefore, if a stadium is to be built in the urbanization area in the
future, it will have to establish a management plan in advance to
prevent overheated real estate market in the area before the
speculation is announced.