• The Journal of Economics, Marketing and Management
• /
• v.12 no.3
• /
• pp.23-33
• /
• 2024

This study aims to enhance the accuracy of effective demand analysis for publicly supported private rental housing by integrating the RIR into the traditional Mankiw-Weil (MW) model. Traditional models like the M-W model, which account for household income, housing costs, and household size, often fall short in estimating demand driven by large-scale development projects. By integrating the RIR factor, this study introduces a more accurate and practical approach to analyzing effective housing demand. Findings show that the modified M-W model incorporating RIR predicts effective demand with greater precision than traditional methods. This advancement allows developers to plan projects more efficiently and aids governments and local authorities in implementing more effective housing policies. Furthermore, the study assesses the real housing cost burden on households, elucidating their capacity to pay housing costs based on household size and income quintile. This information enables policymakers to design targeted housing support policies for specific demographic groups. Additionally, the research provides comprehensive policy recommendations tailored to various regions and housing types. Overall, this study lays a vital groundwork for the long-term analysis of the effects of economic changes and housing market trends on effective demand.

• Land and Housing Review
• /
• v.11 no.3
• /
• pp.49-59
• /
• 2020

The Seoul's 2030 Youth-Housing is a policy to promote the development of private sector-built rental housing in a Station Influence Area (SIA). It is a representative policy to resolve a housing problem for the youth in Seoul. The Seoul Metropolitan Government has made continuous policy improvements to respond to earlier criticisms on the policy. In December 2018, the Seoul Metropolitan Government enlarged the possible spatial boundaries of the SIA that the private sector developer can carry out the housing development projects. This study attempts to assess the potential sites available in Seoul by considering the youth's demand. This study used the suitability modelling technique to evaluate the potential sites. In detail, we established three sub-models by reflecting rent, accessibility to living areas of the youth, and accessibility to living SOC for the youth's demand. According to the results, the Hanyang City Wall area, which was newly included by the recent policy revision, showed moderate scores to fit the housing projects, while some Gangbuk areas, which have high accessibility and relatively lower rents, showed the best scores appropriate for the projects. The age group of 20s preferred university districts, while the age group of 30s preferred to locate near Seoul's main office areas. We suggest that the Seoul metropolitan government develops better ways to guage and reflect the demand for differing youth groups and the demand by age groups.

• Journal of Families and Better Life
• /
• v.5 no.2
• /
• pp.65-82
• /
• 1987

Product characteristic approach and hedonic method were explained and applied to demand behavior of housing for 360 households sampled from four districts of Seoul. Th major findings are: 1) Housing prices are determined by housing characteristics, i.e., basic structure, interior space, interior quality, and neighborhood quality. 2) as income increase , the demand for basic structure, interior space, interior of quality, and neighbor hood quality increases. As compared to the counties that have advanced housing financial systems, income elasticity form housing characteristics was low. 3) householder's educational level has insignificant effects on the demand for neighborhood quality. 4) the housing need of family is different to a family life cycle. In the first stage, the increase of income enhances the demand for basic structure. interior space, and interior quality, but inversed with neighborhood quality. In the second and third stages, the demand for basic structure, interior space, and interior quality increases as the income increases. 5) It is predicted that the larger the family size, the more housing space is required. But in the low-income group, an increase in family size results in a decrease in the demand for interior space because expenses for food and education are indispensable ones. In the middle -income group the demand for interior space, interior quality increases as the family size increases, In the high-income group, the larger the family size the more interior quality is demanded. As mentioned above, the demand for housing is derived form characteristics and the demand behavior far housing characteristics is varied with individual household's characteristics. Therefore, the fact that different housing needs according to various income groups should be considered in housing policy.

• Journal of the Korean Regional Science Association
• /
• v.34 no.1
• /
• pp.49-60
• /
• 2018

The purpose of the study is to analyze the housing problems of single-person household in 20-35 age group. Using the survey of Household's Consumption in 2014, we estimated the housing demand function of young single-person household in Seoul. As a result, the coefficient of the permanent income for young single-person household housing was significantly lower than other groups and the housing demand was also lower than others. Since current income isn't come up to permanent income enough, the housing consumption of young single-person household shrinks. It implies the role of the housing financial market is less activated. That is, the difficulty of realization of permanent income and lack of housing finance are the main cause of the imbalance of housing demand of one young person. Therefore, it implies that in order to alleviate the housing problem of the young single-person household, a policy to balance the permanent income with the housing demand is needed.

• Journal of the Korean Home Economics Association
• /
• v.35 no.2
• /
• pp.297-308
• /
• 1997

The purpose of this study was to examine the environmental characteristics of housing for the elderly preferred by different age groups. By age groups, the result of the study may be described as follows: 1. The young people and the middle aged wanted to live in self-contained unit, but the aged tended to live in the three-generation sharing house to spend their declining years in the future. 2. In the interior housing environment, all three age groups were highly interested in the security facilities than the interior space arrangements of planning of elderly housing. especially, the result of demand of the interior space arrangements in the young people was higher than the old age's. In the exterior housing environment, the garden si the most important space in establishing housing plan.

• Korea journal of population studies
• /
• v.8 no.1
• /
• pp.65-86
• /
• 1985

Korean population is ecpected to reach about 50 million by year 2000. And per capita GNP might attain the $5,000 level. This is bound to have profound impact on housing. For one thing, population and income growth will accelerate new household formation thus increasing new housing needs. On the other, changes in the housing preference function in association with income growth and new way of life would mean increasing demand for better dwelling environment. In addition, by year 2000, there will be many more elderly households necessitating new approaches to housing. The question is whether or not Korea could cope with new housing perspectives. If Korean housing has made in the past some progress in housing quality, it has not been able to tackle the mounting housing shortage. This is attributable to the concentration of effective housing demand in the hands of upper income groups in association with skewed income distribution and sustained dwelling price hike. Korea needs some basic changes in housing policy. The public sector should produce much more small dwellings either for sales or renting. Second, mortgage loans should be expanded so as to increase the access to housing. Third, every thing must be done to cut down the dwelling price through tax cut, relaxation of some requlations, cyclical stabilization of dwelling construction and loan subsidies.

• International Journal of Human Ecology
• /
• v.6 no.1
• /
• pp.117-129
• /
• 2005

The purpose of this research was to study opinions on elderly housing and attitudes toward the problems related to elderly lives, which were due to dependence or independence in later life. The survey was conducted among middle-aged people in their fifties, living in Seoul. The final sample included 498 respondents. Since the statistical analysis was focused only on independent and dependent groups, total cases for the analysis were 373. The results of this study were as follows. Firstly, the group that was more independent in later life tended to be healthier, lived with a husband or wife, had no children, and had more monthly income and assets. Secondly, the group that was more independent in later life believed that they had the sole responsibility of resolving later life issues. The group that was more dependent believed that their family, not themselves, must resolve their later life problems. The independent group wanted to continue their work or enjoy leisure. Thirdly, the group that was more independent about elderly housing stated that they were responsible for it, while the other group stated that their family was. There were no significant differences between the two groups in terms of general idea, and social interest. However, the independent group answered that more development and management of elderly housing were needed. The expected living arrangement in their later lives was similar. Also, there were no differences between the two groups in living with family or the demand for service from elderly housing.

• Asian Journal of Business Environment
• /
• v.2 no.2
• /
• pp.23-26
• /
• 2012

Purpose - The study on the consumption structure of urban residents can help us to understand demand law and to grasp the changing consumption trend of people. Consumption structure is an important indicator reflecting the people's living standard. It is of realistic significance to study urban consumption structure. Research data and methodology - This study is carried out with data connected with urban residents from Shandong Statistical Yearbook for the period 2000-2010 analyzing eight commodity groups. The almost ideal demand system (AIDS) is one of the important models related to consumption structure. Results - This paper shows that firstly gives a brief introduction to AIDS. Then it makes an empirical analysis on the urban residents' consumption structure in Shandong province, China on the basis of AIDS model. Conclusions - the authorities are supposed to control the prices of HC, Foodstuff and Housing and encourage the consumption of HC, Housing, EE accordingly. At the same time, local government should increase the supply of goods connected with housing, HA, HC, and EE so as to attract more consumption from the urban residents in Shandong.

• Journal of the Korean housing association
• /
• v.21 no.1
• /
• pp.89-101
• /
• 2010

The purpose of this study is to investigate the concept, the necessity, and the increase of popularity of multi-habitation, a new life style in which inhabitants in urban areas reside in primarily condominiums during weekdays and retreat to dwellings in rural areas on the weekends. This paper also focuses on finding implication messages from analyzing the demand of multi-habitation in a survey which was conducted for 735 people who live in Seoul and the surrounding metropolitan areas in July 2009. Analysis of literature shows that based on five aspects (population structure, social economy, lifestyle, tourism, and housing market) this dynamic lifestyle, multi-habitation, is believed to be common in South Korea, and may increase in popularity in the near future. The results of the survey illustrate that the respondents show high interest in multi-habitation, and their most preferred locations are the green areas around the Seoul metropolitan area, which are one to two hours away by car. Moreover, regarding the participants' preferences in rural areas they were classified into three groups; those who want to reside in a nature environment, those who want to reside near family and in a close community, and those who want to reside in an environment that has essential facilities and easy accessibility.

• Korean Institute of Interior Design Journal
• /
• v.26 no.5
• /
• pp.52-64
• /
• 2017

Since 1960's Korea has undergone rapid modernization which has problem on the change of industrial society. This phenomena led the trend that tended to produce residence only in the quantity. However, supply-oriented policies for increasing the penetration rate of housing but only in the mass production of housing, the quality of life has not reached the demand of the residents. In this reason, the purpose of this study is to derive the factors of social integration plan through the public rental housing with characteristics of social housing. Therefore, the subjects of this study are social integration public rental housing in USA, Netherlands and Korea. Specially USA and Netherlands are advanced countries where public rental housing policies and design have been established long ago. In this reason, it is needed to analysis the cases and find a new method to compare with Korea's public rental housing. Accordingly it is expected that the result of case studies shows First, it is necessary to realize a community plan that continuously encourages communication and participation for social integration. Second, It should aim at a mixed community of small-income groups through private-public cooperation rather than government-led large scale public housing construction. Third, it is needed that develop various policies and systems and realize them in social integration plan.