The Impact of Transportation Accessibility on Regional Land Price Disparities in South Korea, 2010–2019

Kyungjae Lee, Dohyeong Choi and Seongwoo Lee ()
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Kyungjae Lee: Department of Agricultural Economics and Rural Development, Seoul National University, Seoul 08826, Republic of Korea
Dohyeong Choi: Department of Agricultural and Consumer Economics, University of Illinois Urbana-Champaign, Urbana, IL 61801, USA
Seongwoo Lee: Department of Agricultural and Rural Development, Research Institute of Agriculture and Life Sciences, Seoul National University, Seoul 08826, Republic of Korea

Land, 2025, vol. 14, issue 8, 1-20

Abstract: Transportation infrastructure is a fundamental driver of economic growth and regional connectivity; and the supply of this infrastructure is often assumed to reduce spatial disparities. This study investigates the impact of transportation accessibility on regional disparities in land prices across South Korea from 2010 to 2019. Using spatial econometric models and geographically weighted regression (GWR), this study evaluates how variations in transportation networks influence land price differentials between regions. The results confirm that transportation accessibility positively affects land prices; but GWR coefficients reveal substantial regional variations in the extent to which accessibility improvements drive land price growth. Furthermore, while the overall distribution of transportation accessibility remained relatively stable, its influence on land price appreciation varied significantly, contributing to a widening gap in land values between regions. These findings underscore the critical role of transportation infrastructure in shaping regional inequalities and highlight the need for more equitable transportation policies to mitigate spatial disparities and promote balanced regional development

Keywords: transportation accessibility; land price; regional disparity; spatial panel model; geographically weighted regression model (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:14:y:2025:i:8:p:1515-:d:1708196

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