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<p>Urban Air Mobility (UAM) is emerging as a new layer of urban transport, yet its effects on housing markets remain unclear. This study examines how UAM deployment could reshape apartment prices and support more balanced urban development in Seoul. A scenario-based framework is developed to link reductions in generalized travel cost with spatial variation in housing values. A hedonic pricing model is estimated using 35,408 individual apartment transactions across 466 legal subdistricts, accounting for building characteristics, neighborhood amenities, socio-demographics, and accessibility to transport hubs. Six UAM scenarios, differing in network coverage and service performance, are simulated. Results show that housing price responses are not uniformly positive, but reflect net effects between accessibility gains and localized disamenities. Service quality improvements produce stronger housing price responses than network expansion alone, while integrated strategies generate the most widespread spatial effects. Relative gains expand toward peripheral districts where accessibility is currently constrained, whereas localized declines also emerge near vertiports, suggesting that noise-related disamenities can partially offset accessibility benefits. By evaluating impacts at both the district and parcel levels, the study provides granular evidence of UAM’s influence on housing values. It delivers actionable insights for housing policy, urban planning, and sustainable urban development.</p>

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Housing market impacts of Urban Air Mobility in Seoul: evidence across district and parcel scales

  • 期刊论文

  • 发表日期：

    2026年5月27日

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  • Hanghun Jo,
  • Gyuseong Kim,
  • Minseok Kim,
  • Hyounggeun Song,
  • Yeolin Cho,
  • Sungtaek Choi

摘要

Urban Air Mobility (UAM) is emerging as a new layer of urban transport, yet its effects on housing markets remain unclear. This study examines how UAM deployment could reshape apartment prices and support more balanced urban development in Seoul. A scenario-based framework is developed to link reductions in generalized travel cost with spatial variation in housing values. A hedonic pricing model is estimated using 35,408 individual apartment transactions across 466 legal subdistricts, accounting for building characteristics, neighborhood amenities, socio-demographics, and accessibility to transport hubs. Six UAM scenarios, differing in network coverage and service performance, are simulated. Results show that housing price responses are not uniformly positive, but reflect net effects between accessibility gains and localized disamenities. Service quality improvements produce stronger housing price responses than network expansion alone, while integrated strategies generate the most widespread spatial effects. Relative gains expand toward peripheral districts where accessibility is currently constrained, whereas localized declines also emerge near vertiports, suggesting that noise-related disamenities can partially offset accessibility benefits. By evaluating impacts at both the district and parcel levels, the study provides granular evidence of UAM’s influence on housing values. It delivers actionable insights for housing policy, urban planning, and sustainable urban development.