• Journal of Digital Convergence
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• v.12 no.2
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• pp.45-59
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• 2014

Real estate has been the most preferable investment asset since 1980's has begun. Especially the ups and downs of housing price influence significantly on the household and national economy for a digital economy. In this analysis, monthly movement of apartment price of Seoul and its correlation with KOSPI, construction concerned shares, securities concerned shares, interest rate and exchange rate for 320 months(from January, 1987 to August, 2013) are shown. From the analysis, correlation coefficient of the price of apartment in Seoul and KOSPI is 0.8566 which is highly positive while the price of apartment in Seoul and interest rate are shown strong negative correlation which is -0.7846. The rise of stock market does affect the rise of the price of apartments in Seoul, on the contrary, the price goes down when the interest rate goes up.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.11a
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• pp.191-192
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• 2017

In response to the economic depression, the demand for fixed rent income has increased according to the easing construction regulations. it caused indiscriminated investment to stakeholders. This leads to oversupply in the multi-family Housing market and increases unsold housing and vacancy rates except specific area such as Gangnam-gu.In order to solve this issue, although studies on the optimization price of apartment houses has been conducted, the study is insufficient regarding on residential officetel. Therefore, the objective is to suggest a basic study on optimal price estimation model development by using probabilistic forecasting method in planning phase. To achieve the objective, first, variables are defined such as expenses, financial costs, income, etc. Second, causal loop diagram is suggested. Third, basic optimization prices estimation model is developed. In the future, this study can be used as one of decision making tools in planning phase of officetel development projects.

• Journal of the Korean Home Economics Association
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• v.44 no.4 s.218
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• pp.175-190
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• 2006

The purpose of this research is to investigate consumers' experience of using Internet used-item markets in order to determine their motives in such activity. In terms of the Internet used-item market, (1) it contributes to a sound culture of consumption by recycling, (2) as a C2C market, it retains characteristics fundamentally different from the existing one-way type of market, (3) and it offers different characteristics from existing offline-based flea markets. Two significant themes emerged from the study results. First, users of Internet used-item markets passed through various stages such as novice, addict, and expert and learned the techniques for utilizing the used-item market. Second, for fast transactions with generalized Internet banking and the increasing trend for price bargaining emotional exchange among members is being transformed into the pursuit of transactional efficiency.

• Architectural research
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• v.13 no.3
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• pp.31-40
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• 2011

Profit-keeping behaviors naturally occur in the market to satisfy consumers, and the logic behind it lies in the economies of scale. On the flip side, some commodities transacted in the market are not available or can not be easily acquired unless the demand is high enough. Under this proposition, some consumers rise and find their own solution to meet the services at a reasonable cost or at an adequate level. The commonly adopted way is to establish a cooperative, and it stirs purchasing power by pooling resources and further bargains price and service quality. As a consumer cooperative, housing cooperatives notably found in rural towns enable the elderly to continue independent living. This study is to take a closer look at residential life of the rural elderly in housing cooperatives. Utilizing in-depth focus group interviews with 40 residents in four housing cooperatives, this qualitative research draws main factors affecting the decision to move in, residential assessment, and strengths and weakness of living in a housing cooperative. The primary factor influencing the moving decision is to continue to independent living in a familiar community, and the bottom line is planning ahead. Frailty and bereavement are found to be the leading occasions for them to move. The participants are satisfied with the independent living arrangement, and particularly, cited such features as safety and security, elderly-friendly design, common spaces, freedom, social activities and efficient living. Also, it is stated that some cooperative natures such as control over the property and giving a voice on management render positive impacts on the satisfaction with communal living. In spite of all the benefits and strengths, participants face with a public notion that an independent living arrangement like a housing cooperative has never done before in rural towns, so that most people recognize it as part of dependent living arrangements like nursing home.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.665-668
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• 2006

After foreign exchange trouble, Korean government became effective an economy-invigorating policy that to raise the housing demand and transaction. In result, the rate economic growth kept up a high growth rate and the market recovered. But an economy-invigorating policy of continuance caused an excessive boom of housing market in the second half of 2001. Therefore Korean government enforced a speculation-restraint policy. But it caused a instability of economics. This study is to analyze the effect between the housing policy and the housing cost and is to apply the basis data of the next housing policy.

• Land and Housing Review
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• v.11 no.1
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• pp.21-38
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• 2020

This study examined the population movement of the young generation in accordance with the characteristics of housing market focusing on the housing problem of youth issues. Targeting 64 local governments in the seoul metropolitan area, the temporal range was decided as 2015. Setting up the rising population in 19-34 as a dependent variable, supposing that each age group shows different characteristics, it was divided into age groups in 19~34, 19~29, and 25~34. The population movement of the young generation in accordance with the characteristics of housing market was considered through the multiple regression analysis. In the results, the population movement of the young generation was influenced by the change in detached multi-family housing and the rate of housing supply. The increase of detached multi-family housing promoted the population inflow of the young generation while the population movement of the young generation was disturbed by the rising rate of housing supply. Also, when the local characteristics are not controlled, the young generation hesitates to enter the region where relatively high rent should be paid while the new housing supply focusing on apartment is hard to be selected by the young generation for residence because of the size and price. The population movement of the young generation looked quite different in each age group. The population inflow of the young generation in 19~29 was influenced when there were many officetels and non-apartments on top of detached multi-family housing. On the contrary, the population movement of the young generation in 25~34 was significantly influenced by the increase of the whole size of completed apartment area. Even though it was not the research subject of this study, among control variables, the financial independence and daily average number of get-on/off had effects on the movement of the young generation. It means that the housing type preferred by college students and social novices is different from the housing type preferred by the group with experiences in marriage and childbirth within the same young generation. Thus, it would be necessary to divide the purposes of policies for each subject when executing the youth housing policies.

• Journal of the Korea Society of Computer and Information
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• v.27 no.9
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• pp.243-251
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• 2022

In this paper, we propose a phenomenon that analyze the impact of market sentiment on China's real estate market through the perspective of behavioral economics. Previously, real estate market analyzation basically focus on some fundamental principles which include market price, monetary policies and income, etc. However, little research has explored market sentiment and its influence. By using principal components analysis (PCA), this study first creates buyer's sentiment and seller's sentiment to measure the heat of China's real estate market. Different from using traditional estimation method, the vector autoregressive model (VAR) is used to analyze how both sentiments affect real estate return. The overall results show that from unit root test and impulse response analyzation, the impact of seller's sentiment is positive to real estate market while buyer's sentiment is negative. At the same time, the higher seller's sentiment will have different influence on the housing market compared with the higher buyer's sentiment.

• Korea Real Estate Review
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• v.27 no.1
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• pp.33-44
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• 2017

The continuously rising housing prices in major Chinese cities have raised question about whether inflation is the main reason to drive up housing price to skyrocket in recent years. Based on the provincial panel dataset of China from 2006-2014, this paper investigates the impact of inflation on Chinese housing markets within the frameworks of both static and dynamic panel data models. Our empirical results show evidence that inflation has indeed been a main force of accumulating housing bubbles in these housing markets, especially in eastern region of China. We also find an interesting phenomenon in which Chinese housing bubble is, to a certain extent, affected by market self-adjustment mechanism.

• The Journal of Economics, Marketing and Management
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• v.12 no.4
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• pp.13-25
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• 2024

Purpose: Korea's construction industry has faced declining productivity and quality issues due to labor-intensive onsite construction and variables like weather, material price fluctuations, and labor shortages. The modular housing industry, introduced in Korea in 2003, offered benefits like reduced construction time and enhanced productivity through offsite manufacturing. However, its adoption remains limited due to high costs, quality concerns, and low consumer acceptance. Research Design, Data, and Methodology: This study explores the feasibility and impact of implementing smart factory technologies in the modular housing industry to overcome these barriers. Using survey data from 179 construction industry experts, the study employs frequency and regression analysis to identify key factors influencing the adoption of modular housing and the effectiveness of smart factories. Findings suggest that government-led educational programs and strong policy support are essential for successful implementation, enhancing productivity, reducing costs, and improving quality. Conclusions: The study emphasizes the need for standardization of modular housing, deregulation of relevant laws, and increased public awareness to stimulate market growth and innovation. Policy recommendations include financial support for modular manufacturers transitioning to smart factories, ensuring stable supply volumes, and promoting the benefits of modular housing to consumers. Integrating smart factory technologies can lead to significant advancements in the modular housing industry, contributing to the sustainable development and modernization of Korea's construction sector.

• Spatial Information Research
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• v.16 no.4
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• pp.489-497
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• 2008

Currently, GIS has been widely used in the hedonic analyses of urban apartment housing markets in Korea. In those analyses, the apartment complexes are typically represented as the points or the polygons on the GIS maps and the location variables of the analyses are measured based on the points or the polygons. In this study, the relative performance of the point based approach and the polygon based approach in a GIS based hedonic analysis was compared using the apartment housing market data from the north eastern part of the city of Seoul and Davidson and MacKinnon Test. The results from this study indicate two things. First, two approaches can produce substantially different results in a hedonic price model estimation. Second, the polygon based approach produces a hedonic price model which explains the price variations better than the point based approach. These findings suggest that Korean researchers who are interested in improving quality of hedonic price model estimations and use GIS to measure the location variables for hedonic price models should consider using the polygon based approach with the point based approach. This is because the polygon based approach can produce the location variables with the shortest straight line distances and can explain the housing price variations well.