Pub Date : 2023-08-31DOI: 10.24957/hsr.2023.31.3.127
Tae-Young Kim, Doojin Ryu, Eunil Park
This study employs a machine learning model with a black box nature to explore the variables influencing Jeonse apartment prices in the Gangnam district. While traditional real estate finance has relied on Linear Regression, recent advancements have been made by sophisticated machine learning models such as XGBoost, leading to heightened performance. Nevertheless, the inherent opacity of XGBoost poses challenges in comprehending the factors guiding Jeonse prices. Addressing this limitation, we apply TreeSHAP, an eXplainable Artificial Intelligence (XAI) technique, to the XGBoost model, thus elucidating its contributions and facilitating an in-depth analysis of the determinants governing Jeonse prices in the Gangnam district. Our experiments confirm that XGBoost achieves superior performance, compared to linear regression. We delve into influential determinants such as the construction date, major construction companies, and transportation convenience via XAI. This study demonstrates that enhancing the reliability and usability of machine learning can improve the explanatory power of the Jeonse real estate market and its price determinants.
{"title":"Determinants of Jeonse Prices in Gangnam District: Machine Learning and Explainable Artificial Intelligence Approach","authors":"Tae-Young Kim, Doojin Ryu, Eunil Park","doi":"10.24957/hsr.2023.31.3.127","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.3.127","url":null,"abstract":"This study employs a machine learning model with a black box nature to explore the variables influencing Jeonse apartment prices in the Gangnam district. While traditional real estate finance has relied on Linear Regression, recent advancements have been made by sophisticated machine learning models such as XGBoost, leading to heightened performance. Nevertheless, the inherent opacity of XGBoost poses challenges in comprehending the factors guiding Jeonse prices. Addressing this limitation, we apply TreeSHAP, an eXplainable Artificial Intelligence (XAI) technique, to the XGBoost model, thus elucidating its contributions and facilitating an in-depth analysis of the determinants governing Jeonse prices in the Gangnam district. Our experiments confirm that XGBoost achieves superior performance, compared to linear regression. We delve into influential determinants such as the construction date, major construction companies, and transportation convenience via XAI. This study demonstrates that enhancing the reliability and usability of machine learning can improve the explanatory power of the Jeonse real estate market and its price determinants.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"355 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114753116","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 : 2023-08-31DOI: 10.24957/hsr.2023.31.3.5
Hyeon-Taek Park, Jin-Yhup Kim
Korea is facing the impending transition into a super-aged society, where over 20% of the total population is comprised of individuals aged 65 and older. In this trend, housing for the elderly is one of the most important issues for stable retirement design. This study examines the living conditions of elderly households aged 65 and above in Korea, focusing on low-income and disabled households, which are considered vulnerable groups. To accomplish this, we analyzed empirical data from 2020 Korea Housing Survey using binary logistic regression. The findings confirm that low-income and disabled elderly households are the most vulnerable group concerning their residence in housing with universal design. These households tend to live in homes with insufficient universal design, and face challenges in meeting their daily needs while enduring poor living environments. This study provides policy implications for the application of universal design in housing for Aging in Place (AIP) of the elderly households, whose numbers are expected to increase significantly in the future.
{"title":"The Effects of Elderly Household Characteristics on Residency in Universal Design Housing","authors":"Hyeon-Taek Park, Jin-Yhup Kim","doi":"10.24957/hsr.2023.31.3.5","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.3.5","url":null,"abstract":"Korea is facing the impending transition into a super-aged society, where over 20% of the total population is comprised of individuals aged 65 and older. In this trend, housing for the elderly is one of the most important issues for stable retirement design. This study examines the living conditions of elderly households aged 65 and above in Korea, focusing on low-income and disabled households, which are considered vulnerable groups. To accomplish this, we analyzed empirical data from 2020 Korea Housing Survey using binary logistic regression. The findings confirm that low-income and disabled elderly households are the most vulnerable group concerning their residence in housing with universal design. These households tend to live in homes with insufficient universal design, and face challenges in meeting their daily needs while enduring poor living environments. This study provides policy implications for the application of universal design in housing for Aging in Place (AIP) of the elderly households, whose numbers are expected to increase significantly in the future.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127439625","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 : 2023-08-31DOI: 10.24957/hsr.2023.31.3.93
Hyung Joon Chung, Jihee Ann
We establish a house price index for Seoul based on a Fisher Ideal aggregation of a two-way Blinder-Oaxaca (BO) decomposition, the FIBO index. Applying the BO decomposition to the apartment market decomposes the intercity differences in the mean house prices into two parts: (i) differences that are due to the differences in housing characteristics across areas (endowment effects) and (ii) differences that arise from the interarea differences in implicit prices of those characteristics (coefficient effects). Using actual transaction data for apartments in Seoul from 2017 to 2022, the FIBO index is constructed based on the estimated coefficient effects. Robustness tests show that our method is far less influenced by changes in sample sizes and selection of the reference. We also show that the FIBO index more accurately reflects the actual movement and fluctuation of apartment prices compared to existing indices, which suggests that the FIBO index could serve as a good complementary house price index.
{"title":"A New Approach to Establishing an Apartment Price Index in Seoul based on Blinder-Oaxaca Decomposition","authors":"Hyung Joon Chung, Jihee Ann","doi":"10.24957/hsr.2023.31.3.93","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.3.93","url":null,"abstract":"We establish a house price index for Seoul based on a Fisher Ideal aggregation of a two-way Blinder-Oaxaca (BO) decomposition, the FIBO index. Applying the BO decomposition to the apartment market decomposes the intercity differences in the mean house prices into two parts: (i) differences that are due to the differences in housing characteristics across areas (endowment effects) and (ii) differences that arise from the interarea differences in implicit prices of those characteristics (coefficient effects). Using actual transaction data for apartments in Seoul from 2017 to 2022, the FIBO index is constructed based on the estimated coefficient effects. Robustness tests show that our method is far less influenced by changes in sample sizes and selection of the reference. We also show that the FIBO index more accurately reflects the actual movement and fluctuation of apartment prices compared to existing indices, which suggests that the FIBO index could serve as a good complementary house price index.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121797490","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 : 2023-08-31DOI: 10.24957/hsr.2023.31.3.33
In Sook Kim, Jun-Hyung Kim
It is neither financially feasible to place all the elderly population in need of care into welfare facilities nor will it be welcomed by the elderly considering their preference for aging in place. Ultimately, it is essential to undertake home modification on the house that the elderly currently live in to ensure a safer and more convenient environment. The modification must be carried out on the premise of the consent of the elderly living in it, but many elderly people are in a contradictory situation where they do not feel the need for home modification. This study analyzes data from the 2021 Korea Housing Survey conducted jointly by the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government to examine which factors determine the needs of the elderly for home modification. The result shows that one of the reasons for not renovating houses is that their current housings are relatively in good condition. However, possibility of not feeling the need for home modification is clearly observed even though the housing is not in good shape. The reasons include cases where physical aging has not progressed to the point of requiring home modification, adapted to the discomforts of their homes over years of residence, their adult children provide support in uncomfortable or risky situations, and financially not able to bear the home modification costs. This underscores that even if the elderly do not require home modification, the modification should be carried on when an objective evaluation of the safety and convenience of their housing deems renovations necessary.
{"title":"Why Do Elderly Households Not Want to Modify Their Homes?: Focusing on Seoul","authors":"In Sook Kim, Jun-Hyung Kim","doi":"10.24957/hsr.2023.31.3.33","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.3.33","url":null,"abstract":"It is neither financially feasible to place all the elderly population in need of care into welfare facilities nor will it be welcomed by the elderly considering their preference for aging in place. Ultimately, it is essential to undertake home modification on the house that the elderly currently live in to ensure a safer and more convenient environment. The modification must be carried out on the premise of the consent of the elderly living in it, but many elderly people are in a contradictory situation where they do not feel the need for home modification. This study analyzes data from the 2021 Korea Housing Survey conducted jointly by the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government to examine which factors determine the needs of the elderly for home modification. The result shows that one of the reasons for not renovating houses is that their current housings are relatively in good condition. However, possibility of not feeling the need for home modification is clearly observed even though the housing is not in good shape. The reasons include cases where physical aging has not progressed to the point of requiring home modification, adapted to the discomforts of their homes over years of residence, their adult children provide support in uncomfortable or risky situations, and financially not able to bear the home modification costs. This underscores that even if the elderly do not require home modification, the modification should be carried on when an objective evaluation of the safety and convenience of their housing deems renovations necessary.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125648330","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 : 2023-08-31DOI: 10.24957/hsr.2023.31.3.63
Seong-Young Lee, Chang-heum Byeon
This study confirmed the effect of redeeming development gains from privately owned houses with public purpose and public sale houses by comparing the distribution ratio of development gains taken by the public and by individuals. Using the A2-1 block in Namyanrposegju’s Byeolnae district as a case site, the degree of distribution of development profits by each type is compared when the units are sold six years after moving in. As a result, the general type of public sale house (84.9%) is the type of housing for which the initial buyer takes more than 50% of the development profit, followed by the Newlyweds Hope Town B type (30% loan, 2 children) (73.4%), and the sharing type of public sale house (65%). The land leased house not only has minimal development gains taken by the initial buyer, but it is also likely that the original value of the building will be eroded due to increased depreciation costs over time. This study is meaningful as it can provide the basic data to compare the development gains distribution effects of the current intermediate housing model before developing various intermediate housing models that properly share development gains and continuously supply low-cost housing.
{"title":"A Study on the Comparison of Development Gains Distribution Effects of Privately-Owned House with Public Purpose","authors":"Seong-Young Lee, Chang-heum Byeon","doi":"10.24957/hsr.2023.31.3.63","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.3.63","url":null,"abstract":"This study confirmed the effect of redeeming development gains from privately owned houses with public purpose and public sale houses by comparing the distribution ratio of development gains taken by the public and by individuals. Using the A2-1 block in Namyanrposegju’s Byeolnae district as a case site, the degree of distribution of development profits by each type is compared when the units are sold six years after moving in. As a result, the general type of public sale house (84.9%) is the type of housing for which the initial buyer takes more than 50% of the development profit, followed by the Newlyweds Hope Town B type (30% loan, 2 children) (73.4%), and the sharing type of public sale house (65%). The land leased house not only has minimal development gains taken by the initial buyer, but it is also likely that the original value of the building will be eroded due to increased depreciation costs over time. This study is meaningful as it can provide the basic data to compare the development gains distribution effects of the current intermediate housing model before developing various intermediate housing models that properly share development gains and continuously supply low-cost housing.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132125875","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 : 2023-05-30DOI: 10.24957/hsr.2023.31.2.73
Chaeyoung Yoon, Jangik Jin
Living environment can be a significant factor that increases individual depression during the Covid-19 period. In a special situation where the time spent at home is extended, the characteristics of the house itself may exacerbate the negative psychological state of residents. This is because high-density housing not only makes it difficult to maintain the social distancing, but also increases anxiety of infection from neighbors, which can amplify feelings of depression. Additionally, the overall economic downturn due to the Covid-19 could present more serious potential threat to tenants than to homeowners. With this perspective, this study empirically analyzes the direct and indirect effects of residents’ housing type and housing tenure on depression caused by Covid-19 pandemic through the 2020 Seoul Survey data. Path analysis of the structural equation models is used to explain the complex relationship between variables. In addition, gender and age are classified to determine whether different characteristics appear between each housing and depression. Our results show that living in an apt is negatively related to the residents’ depression. However, findings show that housing tenure is not associated with the depression during the pandemic. The results of this study are meaningful in that we studied how people’s residence is related to depression in the prolonged Covid-19 period by empirical data.
{"title":"Depression during the Covid-19 Pandemic: Are there Differences by Type of Housing and Housing Tenure?","authors":"Chaeyoung Yoon, Jangik Jin","doi":"10.24957/hsr.2023.31.2.73","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.2.73","url":null,"abstract":"Living environment can be a significant factor that increases individual depression during the Covid-19 period. In a special situation where the time spent at home is extended, the characteristics of the house itself may exacerbate the negative psychological state of residents. This is because high-density housing not only makes it difficult to maintain the social distancing, but also increases anxiety of infection from neighbors, which can amplify feelings of depression. Additionally, the overall economic downturn due to the Covid-19 could present more serious potential threat to tenants than to homeowners. With this perspective, this study empirically analyzes the direct and indirect effects of residents’ housing type and housing tenure on depression caused by Covid-19 pandemic through the 2020 Seoul Survey data. Path analysis of the structural equation models is used to explain the complex relationship between variables. In addition, gender and age are classified to determine whether different characteristics appear between each housing and depression. Our results show that living in an apt is negatively related to the residents’ depression. However, findings show that housing tenure is not associated with the depression during the pandemic. The results of this study are meaningful in that we studied how people’s residence is related to depression in the prolonged Covid-19 period by empirical data.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125216848","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 : 2023-05-30DOI: 10.24957/hsr.2023.31.2.43
Hanming Gu, Kabsung . Kim
Young-adult single-person households have emerged as a socially vulnerable group facing housing instability in Korea. To improve insufficient housing policies for this social group, we must evaluate existing policies and provide feedback in a timely manner. In this study, we investigate the effectiveness of housing welfare programs targeting young adults, considering the increase in the supply of public rental housing for them. This study estimated the effect of residing in public rental housing on the intention to achieve homeownership and the mediation effect of residential satisfaction by employing structural equation modeling. The results confirm the following findings. First, when controlling households’ sociodemographic conditions, satisfaction with housing conditions is higher in public rental housing than in private rental housing. Second, high residential satisfaction among young-adult single-person households residing in public rental housing has a significant positive effect on their intention to achieve homeownership through high satisfaction with housing conditions. These findings suggest that public rental housing is an effective housing policy and a stepping stone toward homeownership for young-adult single-person households. This study concludes by emphasizing the necessity for a public rental housing policy considering these policy outcomes.
{"title":"Is Public Rental Housing a Stepping Stone for Young Adults’ Housing?: Effect of Rental Housing Type on the Intention to Achieve Homeownership and the Mediation Effect of Residential Satisfaction","authors":"Hanming Gu, Kabsung . Kim","doi":"10.24957/hsr.2023.31.2.43","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.2.43","url":null,"abstract":"Young-adult single-person households have emerged as a socially vulnerable group facing housing instability in Korea. To improve insufficient housing policies for this social group, we must evaluate existing policies and provide feedback in a timely manner. In this study, we investigate the effectiveness of housing welfare programs targeting young adults, considering the increase in the supply of public rental housing for them. This study estimated the effect of residing in public rental housing on the intention to achieve homeownership and the mediation effect of residential satisfaction by employing structural equation modeling. The results confirm the following findings. First, when controlling households’ sociodemographic conditions, satisfaction with housing conditions is higher in public rental housing than in private rental housing. Second, high residential satisfaction among young-adult single-person households residing in public rental housing has a significant positive effect on their intention to achieve homeownership through high satisfaction with housing conditions. These findings suggest that public rental housing is an effective housing policy and a stepping stone toward homeownership for young-adult single-person households. This study concludes by emphasizing the necessity for a public rental housing policy considering these policy outcomes.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126511405","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 : 2023-05-30DOI: 10.24957/hsr.2023.31.2.5
Hyun-jun Park, Changha Jin
We attempt to analyze longitudinal housing demand with the number of population and number of household size from the Korea Housing Survey from 2016 to 2020 using the Mankiw-Weil Method. We also include singles and couples in the young and the old age group to identify the relative housing demand. Furthermore, we extend our analysis to 17 regional housing markets and examine the regional housing demand to confirm whether heterogeneity of regional housing demand exists. Using the machine learning method, we also provide the relative importance of variables influencing housing demand. Thus, we expect to provide an efficient housing policy by monitoring critical changes in the influential variables affecting housing demand.
{"title":"A Study on Long-Term Housing Demand by Region using the Demographic and Household based Mankiw-Weil Method","authors":"Hyun-jun Park, Changha Jin","doi":"10.24957/hsr.2023.31.2.5","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.2.5","url":null,"abstract":"We attempt to analyze longitudinal housing demand with the number of population and number of household size from the Korea Housing Survey from 2016 to 2020 using the Mankiw-Weil Method. We also include singles and couples in the young and the old age group to identify the relative housing demand. Furthermore, we extend our analysis to 17 regional housing markets and examine the regional housing demand to confirm whether heterogeneity of regional housing demand exists. Using the machine learning method, we also provide the relative importance of variables influencing housing demand. Thus, we expect to provide an efficient housing policy by monitoring critical changes in the influential variables affecting housing demand.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115070539","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 : 2023-05-30DOI: 10.24957/hsr.2023.31.2.133
J. Seo, Mihwa Lim, Sanguk Han, S. U. Purwaningati, Jeongseob Kim
This study aimed to investigate the association between development density and housing prices in Seoul, utilizing a machine learning driven hedonic price model. The model employed actual transaction data of high-rise condominiums (apartments) spanning from January 2019 to December 2021. The study employed CatBoost algorithm and eXplainable AI techniques (SHAP) to explore the non-linear relationships between floor area ratio(FAR) and housing prices. The findings revealed that overall FAR had a negative relationship with housing prices for both general apartments and mixed-use development. However, the negative impact of FAR was relatively small in large-scale development. Furthermore, the negative impact of FAR may not be significant in some high-end mixed-use development. These findings imply the importance of proposing appropriate site plans to ensure a desirable residential environment when high-density development is necessary.
{"title":"Exploring the Nonlinear Relationship between Development Density and Housing Price: Focusing on eXplainable AI (XAI)","authors":"J. Seo, Mihwa Lim, Sanguk Han, S. U. Purwaningati, Jeongseob Kim","doi":"10.24957/hsr.2023.31.2.133","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.2.133","url":null,"abstract":"This study aimed to investigate the association between development density and housing prices in Seoul, utilizing a machine learning driven hedonic price model. The model employed actual transaction data of high-rise condominiums (apartments) spanning from January 2019 to December 2021. The study employed CatBoost algorithm and eXplainable AI techniques (SHAP) to explore the non-linear relationships between floor area ratio(FAR) and housing prices. The findings revealed that overall FAR had a negative relationship with housing prices for both general apartments and mixed-use development. However, the negative impact of FAR was relatively small in large-scale development. Furthermore, the negative impact of FAR may not be significant in some high-end mixed-use development. These findings imply the importance of proposing appropriate site plans to ensure a desirable residential environment when high-density development is necessary.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134357812","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 : 2023-05-30DOI: 10.24957/hsr.2023.31.2.109
Eun Kyeol Ko, Jeong-Ran Lee
In order to solve the housing problem of young people, the government announced a plan to supply public housing for sale that combine affordable housing prices and groundbreaking mortgage support. In this study, a survey was conducted to understand the young people's preference for the newly proposed public housing for sale, and the housing perception and demographic characteristics of young people who prefer public housing for sale were analyzed. In addition, through a survey on the policy direction and detailed conditions, it was intended to propose a model of public housing for sale that young people want. The results of analysis are summarized as follows. First, as a result of the survey, 49.8% of the respondents preferred public housing for sale, and such a high preference indicates the need to expand the supply of affordable public housing for sale. Second, since there are differences of opinion on the detailed conditions related to the benefits and restrictions of public housing for sale, it is necessary to set reasonable standards. Third, for young people with relatively lower assets, it is essential to provide cheonsei loans and public rental housing support to secure the current residential stability. Fourth, it is important to supply public housing with high-quality residential and educational environments for young people planning to marry and give birth. The results of the study are meaningful in that they clarify whether public housing for sale can serve as an alternative to solving the housing problem of young people, and present guidelines such as policy direction and detailed conditions.
{"title":"A Study on Young People’s Preference for Public Housing for Sale: Focusing on Perception of Housing and Demographic Characteristics","authors":"Eun Kyeol Ko, Jeong-Ran Lee","doi":"10.24957/hsr.2023.31.2.109","DOIUrl":"https://doi.org/10.24957/hsr.2023.31.2.109","url":null,"abstract":"In order to solve the housing problem of young people, the government announced a plan to supply public housing for sale that combine affordable housing prices and groundbreaking mortgage support. In this study, a survey was conducted to understand the young people's preference for the newly proposed public housing for sale, and the housing perception and demographic characteristics of young people who prefer public housing for sale were analyzed. In addition, through a survey on the policy direction and detailed conditions, it was intended to propose a model of public housing for sale that young people want. The results of analysis are summarized as follows. First, as a result of the survey, 49.8% of the respondents preferred public housing for sale, and such a high preference indicates the need to expand the supply of affordable public housing for sale. Second, since there are differences of opinion on the detailed conditions related to the benefits and restrictions of public housing for sale, it is necessary to set reasonable standards. Third, for young people with relatively lower assets, it is essential to provide cheonsei loans and public rental housing support to secure the current residential stability. Fourth, it is important to supply public housing with high-quality residential and educational environments for young people planning to marry and give birth. The results of the study are meaningful in that they clarify whether public housing for sale can serve as an alternative to solving the housing problem of young people, and present guidelines such as policy direction and detailed conditions.","PeriodicalId":255849,"journal":{"name":"Korean Association for Housing Policy Studies","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122138080","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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