Housing market impacts of urban air mobility in Seoul: evidence across district and parcel scales

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 service quality improvements produce stronger housing price appreciation than network expansion alone, while integrated strategies generate the most widespread and equitable gains. Substantial increases appear in peripheral districts where accessibility is currently constrained, suggesting that UAM can mitigate spatial disparities and strengthen housing markets in underserved areas. 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.