This study analyzes four real estate transaction documents from Hanseongbu housed at the Seoul Museum of History to examine the characteristics of housing sales and price fluctuations in Hanseongbu during the late Joseon period. First, the geographica...
This study analyzes four real estate transaction documents from Hanseongbu housed at the Seoul Museum of History to examine the characteristics of housing sales and price fluctuations in Hanseongbu during the late Joseon period. First, the geographical features, ownership, and transaction histories of each house were analyzed. Then, general price changes in Hanseongbu housing were examined by looking at both nominal prices and standardized unit area prices. As a prerequisite for this analysis, the value of silver coins, prevailing exchange rates, and the price ratio between tiled-roof houses (waga) and thatched-roof houses (choga) in the late Joseon dynasty were verified.
The analysis revealed that House No. 1 in Hoehwajeong-dong was owned by a literati family (sadaebu). House No. 2 in Hoehwajeong-dong was initially occupied by owners of relatively lower social status and was later converted into a commercial property. House No. 3 in Heungnipjeon-gye was identified as a commercial property located in the Jongno market district, while House No. 4 in Changseonbang-gye was presumed to have been owned by a soldier near a military camp.
The comprehensive analysis of these four Hanseongbu housing cases suggests that housing prices in Hanseongbu during the late Joseon period did not consistently rise. Instead, prices likely declined in the 17th century, remained stable throughout the 18th century, and increased in the 19th century. Furthermore, differences in unit area price levels depending on the social status of the owners were confirmed. However, the overall trend in price fluctuations appears to have been influenced more by macroeconomic factors, such as the general economic situation, than by the specific characteristics of individual houses.