Impact of North Korean Threats on Housing Prices in South Korea: A Research Note

Craig S. Galbraith (), Edward Graham () and Jake Lee ()
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Craig S. Galbraith: University of North Carolina Wilmington
Edward Graham: University of North Carolina Wilmington
Jake Lee: University of North Carolina Wilmington

International Real Estate Review, 2024, vol. 27, issue 3, 361-371

Abstract: Prior studies have uncovered a variety of exogenous events or activities that can impact the housing prices in a region. For more than seventy years, tensions between North Korea and South Korea have run high, and are sometimes violent. This study examines the impact that different threats have on housing prices in South Korea. Using three different measures of threats by North Korea, we examine housing prices in thirteen different city regions in South Korea. The results indicate a significant impact for three of the regions, regions that have a large United States military presence or are very close to the demilitarized zone. However, the study does not find a significant impact for the country of South Korea in general, or most of the regions studied.

Keywords: Housing prices; Threats; Korean peninsula (search for similar items in EconPapers)
Date: 2024
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