Pub Date : 2024-02-28DOI: 10.24957/hsr.2024.32.1.117
Myung-Hyun Kim, Yeon-Jae Lee, Youn-min Ko
Since 1982, when the Ministry of Education's small school consolidation policy was implemented, a total of 3,922 schools have been closed as of March 2023. Most of the previous studies have focused on analyzing cases and recommending how to utilize them. This study takes a quantitative approach by considering time to examine what factors are considered in the four types of management (non-utilization, self-utilization, lease and sale) after the decision to close. A panel probit model with sample selection bias was applied in three steps. The results showed that the age of the school and the total appraised value of the land and building are important factors in whether the school is utilized; land area, building area, land appraised value, population density, and population growth rate are important factors in whether the school is self-utilized; and land area, price, and financial independence are important factors in whether the school is sold. Through this study, we derived the selection factors that are important for the public sector, which must efficiently manage closed schools, and the private sector, which wants to earn profits by utilizing them and provide useful information for establishing policies necessary to efficiently manage closed schools.
{"title":"Analysis of Decision Factors in the Utilization of Closed School","authors":"Myung-Hyun Kim, Yeon-Jae Lee, Youn-min Ko","doi":"10.24957/hsr.2024.32.1.117","DOIUrl":"https://doi.org/10.24957/hsr.2024.32.1.117","url":null,"abstract":"Since 1982, when the Ministry of Education's small school consolidation policy was implemented, a total of 3,922 schools have been closed as of March 2023. Most of the previous studies have focused on analyzing cases and recommending how to utilize them. This study takes a quantitative approach by considering time to examine what factors are considered in the four types of management (non-utilization, self-utilization, lease and sale) after the decision to close. A panel probit model with sample selection bias was applied in three steps. The results showed that the age of the school and the total appraised value of the land and building are important factors in whether the school is utilized; land area, building area, land appraised value, population density, and population growth rate are important factors in whether the school is self-utilized; and land area, price, and financial independence are important factors in whether the school is sold. Through this study, we derived the selection factors that are important for the public sector, which must efficiently manage closed schools, and the private sector, which wants to earn profits by utilizing them and provide useful information for establishing policies necessary to efficiently manage closed schools.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"25 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140420214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-28DOI: 10.24957/hsr.2024.32.1.61
Kyoung Mi Ham, Jeong-Ran Lee
This study conducted a survey of middle-aged and elderly households aged 55 or older to study their preferences for post-retirement residential models, and asked to choose their preferred model among four residential models(elderly welfare housing(silver town), community housing, and in-home service and living at home). The analysis results are summarized as follows. First, different residential models were selected depending on the lifestyle, assets, monthly income, and demographic characteristics of middle-aged and elderly households, which shows that the development and supply of various residential models is necessary. Second, in order to provide a practical residential model after retirement, it is necessary to present alternatives by considering the level of housing costs that middle-class households can pay. Third, as the proportion of respondents who did not want to move to senior housing was high, there is a need to expand in-home service that allow people to receive living support and health care services while living at home. These results can provide implications as basic research when establishing senior housing policies, and are expected to contribute to expanding housing choice opportunities for middle-aged and elderly households.
{"title":"A Study on the Preferred Residential Models of Middle-Aged and Elderly Households after Retirement","authors":"Kyoung Mi Ham, Jeong-Ran Lee","doi":"10.24957/hsr.2024.32.1.61","DOIUrl":"https://doi.org/10.24957/hsr.2024.32.1.61","url":null,"abstract":"This study conducted a survey of middle-aged and elderly households aged 55 or older to study their preferences for post-retirement residential models, and asked to choose their preferred model among four residential models(elderly welfare housing(silver town), community housing, and in-home service and living at home). The analysis results are summarized as follows. First, different residential models were selected depending on the lifestyle, assets, monthly income, and demographic characteristics of middle-aged and elderly households, which shows that the development and supply of various residential models is necessary. Second, in order to provide a practical residential model after retirement, it is necessary to present alternatives by considering the level of housing costs that middle-class households can pay. Third, as the proportion of respondents who did not want to move to senior housing was high, there is a need to expand in-home service that allow people to receive living support and health care services while living at home. These results can provide implications as basic research when establishing senior housing policies, and are expected to contribute to expanding housing choice opportunities for middle-aged and elderly households.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"119 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140422192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-28DOI: 10.24957/hsr.2024.32.1.87
Giyoung Yaung, Gyo Eon Sim
In this study, the financial time series trend is predicted using Hamilton's Markov regime-switching model to observe the factors of apartment sales, jeonse, and monthly rent prices that change from time to time from a Markov perspective. Inflation since the coronavirus pandemic has pushed the United States interest rate higher, and South Korea is also raising its benchmark interest rate to stabilize the economy. Due to the impact of this increase in the base rate, the mortgage interest rate has also risen, which has a chain effect on the sale price of apartments, the price of jeonse, and the price of monthly rent. Changes in the trend over the long term can be interpreted as exogenous shocks, economic measures, or structural changes. As a result of the Markov model analysis, apartment sales prices, jeonse prices, and monthly rent prices all showed a higher probability of maintaining a recession period, and among them, the recession period for apartment sales price, and jeonse prices was relatively more likely to last longer. In the case of the expected duration period, the duration of the depression phase of apartment sales prices and jeonse prices was similar, while the duration of the depression phase of apartment monthly rent prices was short and highly volatile. As a cause of volatility, loan interest rates were found to be a determinant.
{"title":"Analysis of the Relationship Between Apartment Sale Price, Jeonse Price, Monthly Rent Price Volatility Determinants: Focusing on the Loan Interest Rate","authors":"Giyoung Yaung, Gyo Eon Sim","doi":"10.24957/hsr.2024.32.1.87","DOIUrl":"https://doi.org/10.24957/hsr.2024.32.1.87","url":null,"abstract":"In this study, the financial time series trend is predicted using Hamilton's Markov regime-switching model to observe the factors of apartment sales, jeonse, and monthly rent prices that change from time to time from a Markov perspective. Inflation since the coronavirus pandemic has pushed the United States interest rate higher, and South Korea is also raising its benchmark interest rate to stabilize the economy. Due to the impact of this increase in the base rate, the mortgage interest rate has also risen, which has a chain effect on the sale price of apartments, the price of jeonse, and the price of monthly rent. Changes in the trend over the long term can be interpreted as exogenous shocks, economic measures, or structural changes. As a result of the Markov model analysis, apartment sales prices, jeonse prices, and monthly rent prices all showed a higher probability of maintaining a recession period, and among them, the recession period for apartment sales price, and jeonse prices was relatively more likely to last longer. In the case of the expected duration period, the duration of the depression phase of apartment sales prices and jeonse prices was similar, while the duration of the depression phase of apartment monthly rent prices was short and highly volatile. As a cause of volatility, loan interest rates were found to be a determinant.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"8 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140418152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-28DOI: 10.24957/hsr.2024.32.1.31
Myoungsub Choi
The purpose of this paper is to identify the housing status of young households by life cycle, and to analyze changes in housing demand for young households in the future. For this purpose, this study uses the 「2022 Survey on Youth Living」 that was recently disclosed by the Office for Government Policy Coordination. The main analysis results of this study are as follows. First, there are many unmarried youths living with their parents. However, as young people in this type of household are not living independently, they are excluded from the housing policy for young households. Second, young single-person households currently make up most of youth-independent households, and their housing situation is relatively poor. Moreover, young single-person households appear to be a type that requires continued attention because it is expected that unmarried young people currently living with their parents will diversify into young single-person households in the future. Third, based on the estimated number of households and housing demand by the life-cycle of young households, the total number of young households decreased in the long term. Still, the proportion of young single-person households and young couple households increased. Specifically, If the differentiation of young households is activated, the total number of households and the housing demand of young households decreases.
{"title":"Housing Conditions and Demand for Youth Households by Life-Cycle Changes: Using the 2002 Survey on Youth Living","authors":"Myoungsub Choi","doi":"10.24957/hsr.2024.32.1.31","DOIUrl":"https://doi.org/10.24957/hsr.2024.32.1.31","url":null,"abstract":"The purpose of this paper is to identify the housing status of young households by life cycle, and to analyze changes in housing demand for young households in the future. For this purpose, this study uses the 「2022 Survey on Youth Living」 that was recently disclosed by the Office for Government Policy Coordination. The main analysis results of this study are as follows. First, there are many unmarried youths living with their parents. However, as young people in this type of household are not living independently, they are excluded from the housing policy for young households. Second, young single-person households currently make up most of youth-independent households, and their housing situation is relatively poor. Moreover, young single-person households appear to be a type that requires continued attention because it is expected that unmarried young people currently living with their parents will diversify into young single-person households in the future. Third, based on the estimated number of households and housing demand by the life-cycle of young households, the total number of young households decreased in the long term. Still, the proportion of young single-person households and young couple households increased. Specifically, If the differentiation of young households is activated, the total number of households and the housing demand of young households decreases.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"26 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140421333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-28DOI: 10.24957/hsr.2024.32.1.5
Seung Chul Noh
This study analyzes the characteristics of real estate transactions from 2017 to 2022, distinguishing between transactions within the region(si, gun, gu), adjacent regions, and non-adjacent regions. It uses social network analysis methods to derive the characteristics of the network and the actors (si. gun, gu). The research results show that about 50~55% of the collective building transactions occur within the region, about 15% between adjacent regions, and about 30% between non-adjacent regions. As a result of analyzing transactions between non-adjacent regions through a network approach, most regions belong to one real estate transaction network centered on the metropolitan area, and many regions can influence each other in real estate transactions. The significance of this study lies in presenting a new approach to real estate transactions by analyzing real estate transactions between cities and counties in Korea through a social network approach, and deriving policy implications through this.
{"title":"Social Network Analysis of Real Estate Transactions in Korea","authors":"Seung Chul Noh","doi":"10.24957/hsr.2024.32.1.5","DOIUrl":"https://doi.org/10.24957/hsr.2024.32.1.5","url":null,"abstract":"This study analyzes the characteristics of real estate transactions from 2017 to 2022, distinguishing between transactions within the region(si, gun, gu), adjacent regions, and non-adjacent regions. It uses social network analysis methods to derive the characteristics of the network and the actors (si. gun, gu). The research results show that about 50~55% of the collective building transactions occur within the region, about 15% between adjacent regions, and about 30% between non-adjacent regions. As a result of analyzing transactions between non-adjacent regions through a network approach, most regions belong to one real estate transaction network centered on the metropolitan area, and many regions can influence each other in real estate transactions. The significance of this study lies in presenting a new approach to real estate transactions by analyzing real estate transactions between cities and counties in Korea through a social network approach, and deriving policy implications through this.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"25 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140418449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.24957/hsr.2023.31.4.33
Mee-Youn Jin, Kyeong-Mi Kim
The aim of this paper is to redefine the concept of ‘conventional subdivided-units’ and identify households living in the revised subdivided-units using empirical data. The term ‘subdivided-units’ with low-end small rental often has been used in policy language in official documents so far but it has yet to be formulated. In this paper, considering objectification and measurability, the “subdivision-shaped units” that modified the ‘conventional subdivided-units’ was defined as “dwelling where the area of indoor space used by a household for residential uses is less than 7㎡ or those units that are not self-contained. Empirical results show that about 210,000 households reside in the subdivision-shaped units as modified subdivided-units and 46.6% of them live in types similar to conventional subdivided-units (on a monthly rent basis with no-deposit and costing less than 300,000 won per month). The most similar to the overall characteristics of conventional subdivided-units were Gosiwon accommodations or lodgings. In light of recent global discourses, the subdivision-shaped units can be regarded as informal housing in Korean context. Although it is a cheap alternative for the vulnerable who have been priced out of formal housing, it continuously poses a health and safety threat to tenants. For more improvements, it is necessary to establish a reliable data infrastructure that can catch up with the real figures in terms of hiddenness >, diversity, and complicated hybridity. Based on such data, adequate housing standards should be made into rules in the national policy-level.
{"title":"Reconceptualizing Conventional Subdivided-Units and New Empirical Evidences","authors":"Mee-Youn Jin, Kyeong-Mi Kim","doi":"10.24957/hsr.2023.31.4.33","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.4.33","url":null,"abstract":"The aim of this paper is to redefine the concept of ‘conventional subdivided-units’ and identify households living in the revised subdivided-units using empirical data. The term ‘subdivided-units’ with low-end small rental often has been used in policy language in official documents so far but it has yet to be formulated. In this paper, considering objectification and measurability, the “subdivision-shaped units” that modified the ‘conventional subdivided-units’ was defined as “dwelling where the area of indoor space used by a household for residential uses is less than 7㎡ or those units that are not self-contained. Empirical results show that about 210,000 households reside in the subdivision-shaped units as modified subdivided-units and 46.6% of them live in types similar to conventional subdivided-units (on a monthly rent basis with no-deposit and costing less than 300,000 won per month). The most similar to the overall characteristics of conventional subdivided-units were Gosiwon accommodations or lodgings. In light of recent global discourses, the subdivision-shaped units can be regarded as informal housing in Korean context. Although it is a cheap alternative for the vulnerable who have been priced out of formal housing, it continuously poses a health and safety threat to tenants. For more improvements, it is necessary to establish a reliable data infrastructure that can catch up with the real figures in terms of hiddenness >, diversity, and complicated hybridity. Based on such data, adequate housing standards should be made into rules in the national policy-level.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"58 7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139199087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.24957/hsr.2023.31.4.109
Ji Seon Lee, Yeon-Jae Lee, Seong-Won Lee
This study investigated the factors influencing hospitality property prices in the context of COVID-19. Previous research primarily focused on luxury hotels, and it lacks a comprehensive analysis of the entire hospitality sector. The study analyzed transaction data of 586 hospitality properties nationwide from 2018 to 2021. We model all the regional economic, physical, locational, and market characteristics. We use pooled OLS specification with all the interacting variables with COVID-19 period (2020 and 2021) dummy variables. We found that both the residential areas dummy and annual growth of the apartment price index showed positive signs during the COVID-19 period. This study shows that hospitality properties were sold during the period as a residential alternative, such as conversion to officetel.
{"title":"A Study on the Impact of Hospitality Property Prices: A Comparison between Pre-COVID-19 and Ongoing Period","authors":"Ji Seon Lee, Yeon-Jae Lee, Seong-Won Lee","doi":"10.24957/hsr.2023.31.4.109","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.4.109","url":null,"abstract":"This study investigated the factors influencing hospitality property prices in the context of COVID-19. Previous research primarily focused on luxury hotels, and it lacks a comprehensive analysis of the entire hospitality sector. The study analyzed transaction data of 586 hospitality properties nationwide from 2018 to 2021. We model all the regional economic, physical, locational, and market characteristics. We use pooled OLS specification with all the interacting variables with COVID-19 period (2020 and 2021) dummy variables. We found that both the residential areas dummy and annual growth of the apartment price index showed positive signs during the COVID-19 period. This study shows that hospitality properties were sold during the period as a residential alternative, such as conversion to officetel.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139201238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.24957/hsr.2023.31.4.131
Hosung Woo, Ja-Hoon Koo
Intergenerational wealth transfers manifest themselves in the form of parental support during the process of a child’s first home purchase. The level of parental support varies according to the socioeconomic status of the parents. This study focuses on how parental socioeconomic status affects the time to purchase and price of a child’s first home. Our results show that, first, parental economic status, especially parental total wealth, reduces the time to purchase a child’s first home; second, parental total wealth matter when the child’s first home price is in the lower quantiles. However, in the higher quantiles, economic status such as parental total assets, current home value, and total debt, as well as social status such as parental education and occupation, also mattered. This suggests that the wealth gap between children’s generations due to differences in parental support may arise from the purchase price rather than the time it takes to purchase a first home. Policy efforts, such as stabilizing housing prices, are needed to mitigate this phenomenon.
{"title":"How Parental Socioeconomic Status Influences the Time and Price to Child’s First Homeownership","authors":"Hosung Woo, Ja-Hoon Koo","doi":"10.24957/hsr.2023.31.4.131","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.4.131","url":null,"abstract":"Intergenerational wealth transfers manifest themselves in the form of parental support during the process of a child’s first home purchase. The level of parental support varies according to the socioeconomic status of the parents. This study focuses on how parental socioeconomic status affects the time to purchase and price of a child’s first home. Our results show that, first, parental economic status, especially parental total wealth, reduces the time to purchase a child’s first home; second, parental total wealth matter when the child’s first home price is in the lower quantiles. However, in the higher quantiles, economic status such as parental total assets, current home value, and total debt, as well as social status such as parental education and occupation, also mattered. This suggests that the wealth gap between children’s generations due to differences in parental support may arise from the purchase price rather than the time it takes to purchase a first home. Policy efforts, such as stabilizing housing prices, are needed to mitigate this phenomenon.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139198400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.24957/hsr.2023.31.4.67
Hoobin Lee, Dasom Hong
The scholarship of residential capitalism contends that capitalist inequality was reshaped centering around housing problems. However, the importance of housing inequality, particularly compared to conventional income inequality, should be identified to demonstrate the argument. If people cannot purchase houses and accumulate assets due to low income, housing inequality is only the result and extension of income inequality. Thus, this study contrasts income and housing inequalities using the concept of housing income, a measure of monetizing the relative benefits of homeownership to other tenures. The results suggest that the housing income of Chonsei households is not higher than that of rental households, and the 2nd to 4th income quintiles have lower housing income than the 1st income quintile. This implies that high income cannot guarantee a dominant position in the landscape of housing inequality in South Korea. Moreover, the result implies that the housing tenure hierarchy (homeownership-Chonsei-rent), which traditionally intermediated housing and income inequalities, does not work anymore. The differentiation of housing inequality from income inequality is especially prominent in the 2nd to 4th income quintiles of Chonsei households. These households utilized debts, called Chonsei deposit loans, to keep up with the rising Chonsei prices, but it aggravated interest burdens and reduced Chonsei households’ monetary benefits in housing income. In conclusion, although Chonsei households could sustain their housing tenure via debts, it closed the gap between Chonsei and rent.
{"title":"The Landscape of Inequality in Residential Capitalism: Focusing on the Marginalized Impacts of Income Inequality on Housing Inequality","authors":"Hoobin Lee, Dasom Hong","doi":"10.24957/hsr.2023.31.4.67","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.4.67","url":null,"abstract":"The scholarship of residential capitalism contends that capitalist inequality was reshaped centering around housing problems. However, the importance of housing inequality, particularly compared to conventional income inequality, should be identified to demonstrate the argument. If people cannot purchase houses and accumulate assets due to low income, housing inequality is only the result and extension of income inequality. Thus, this study contrasts income and housing inequalities using the concept of housing income, a measure of monetizing the relative benefits of homeownership to other tenures. The results suggest that the housing income of Chonsei households is not higher than that of rental households, and the 2nd to 4th income quintiles have lower housing income than the 1st income quintile. This implies that high income cannot guarantee a dominant position in the landscape of housing inequality in South Korea. Moreover, the result implies that the housing tenure hierarchy (homeownership-Chonsei-rent), which traditionally intermediated housing and income inequalities, does not work anymore. The differentiation of housing inequality from income inequality is especially prominent in the 2nd to 4th income quintiles of Chonsei households. These households utilized debts, called Chonsei deposit loans, to keep up with the rising Chonsei prices, but it aggravated interest burdens and reduced Chonsei households’ monetary benefits in housing income. In conclusion, although Chonsei households could sustain their housing tenure via debts, it closed the gap between Chonsei and rent.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139199586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-30DOI: 10.24957/hsr.2023.31.4.5
Jin-Woo Kim
This study aimed to confirm how the residential environment infrastructure affects the jeonse price of housing for the purpose of pure residence.Among various residential environment infrastructures, subway-related variables for transportation infrastructure and park-related variables for living infrastructure were reflected, focusing on the location of the house. Based on this, differences by housing type were additionally confirmed. As a result, it was found that the closer to the subway, the higher the housing jeonse price, and the closer to the park, the lower the price. By housing type, apartments respond most sensitively to the distance from the subway, and in the impact analysis with parks, it was found that the closer the APT, the higher the housing price, and the closer the others, the lower or not affect the housing price. Comparing with previous studies centering on housing sales price, the impact on transportation infrastructure showed a similar effect, while park infrastructure showed completely opposite results, confirming that the influence reflected on the housing sales price and the jeonse price is different. Through this study, it was confirmed how the supply of infrastructure for the purpose of improving the residential environment is reflected in the residential cost, and the results show how urban policies should be planned in response to rapidly changing households.
{"title":"Impact of Residential Environment Infrastructure on Housing Jeonse Price","authors":"Jin-Woo Kim","doi":"10.24957/hsr.2023.31.4.5","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.4.5","url":null,"abstract":"This study aimed to confirm how the residential environment infrastructure affects the jeonse price of housing for the purpose of pure residence.Among various residential environment infrastructures, subway-related variables for transportation infrastructure and park-related variables for living infrastructure were reflected, focusing on the location of the house. Based on this, differences by housing type were additionally confirmed. As a result, it was found that the closer to the subway, the higher the housing jeonse price, and the closer to the park, the lower the price. By housing type, apartments respond most sensitively to the distance from the subway, and in the impact analysis with parks, it was found that the closer the APT, the higher the housing price, and the closer the others, the lower or not affect the housing price. Comparing with previous studies centering on housing sales price, the impact on transportation infrastructure showed a similar effect, while park infrastructure showed completely opposite results, confirming that the influence reflected on the housing sales price and the jeonse price is different. Through this study, it was confirmed how the supply of infrastructure for the purpose of improving the residential environment is reflected in the residential cost, and the results show how urban policies should be planned in response to rapidly changing households.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139201671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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