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The study aims to analyze how urban rail station characteristics affect apartment price formation.

The Impact of Urban Rail Station Characteristics on Apartment Prices

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The study aims to analyze how urban rail station characteristics affect apartment price formation.
Analyzed 273,883 apartment transactions from Seoul (2018-2022)
Utilized a semi-log hedonic price model and random forest ensemble
Applied SHAP for variable contribution interpretation
Structural factors like distance to the Han River and CBD are primary price drivers
Station-related features have secondary but significant effects
Random forest model showed better predictive accuracy than the hedonic model

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Analysis reports structural factors drive apartment prices in Seoul, suggesting improved housing policies are needed.

Lee et al. (2025) studied this question.

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