The relative impacts of high school types on adjacent housing resale prices in South Korea

초록

The socioeconomic understanding of education in South Korean society is unique. The general belief is that becoming better educated is a way of rising in social status, and a superior education is recognized as being a fundamental requirement for acquiring a stable job and a high income. Typically, acquiring a high school education, the last step before entering university, is regarded by many as enabling graduates to advance to the pinnacle of society, a status that is highly desired by Koreans. In this manner, although high schools in South Korea are highly prized, and various types exist, the impacts of school types on housing prices have not been well studied. This study compares the influence of high school types on housing resale prices focusing on four school types-special purpose, autonomous, general, and specialized-in the city of Seoul. The result shows if the nearest school is specialized, housing resale prices drop by 21.2%, compared to a special purpose schools. Autonomous and general schools are also found to have a negative influence compared to special purpose, by about -8.9% and -10.3% respectively. These different preferences are influencing the price of housing, and that specialized high schools have relatively negative influences on housing prices. Therefore, instead of considering residents’ opinions objecting to the location of certain types of high schools, policy measures are needed that can resolve conflicts by improving the image of these schools. © Research India Publications.

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