• Korea Real Estate Review
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• v.28 no.1
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• pp.115-130
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• 2018

This study investigated the factors influencing the termination of the JooTeakYeonKeum contract according to its rate increase, and aimed to identify the differences in the factors affecting the cancellation of the contract according to the collateralized house price range. The results showed that the higher the cumulative increase rate of the mortgage housing price at the time of subscription is, the higher the monthly payment, the larger the gap between the monthly payment and the minimal living expenses for aging, the lower the net population moving rate in the previous month, and the lower the cumulative mortgage. Moreover, the JooTeakYeonKeum contract is terminated. The factors affecting the termination of the contract are different in each interval of the price range of the mortgage housing. To confirm this, a mortgage price range model was constructed and analyzed. The results showed that 60% of the elderly participants in the JooTeakYeonKeum program subscribed thereto with a below-average subsidized housing price. It was confirmed that the factors affecting the termination of the contract differ by price range. Lowering the risk of increasing the JooTeakYeonKeum termination rate will be a significant way of boosting the welfare of elderly people aged 65 and older, and of easing the impact of population aging.