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수도권 및 부산지역의 주택시장 분석(A study on Seoul metropolitan and busan regional housing market)

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  • 수도권 및 부산지역의 주택시장 분석(A study on Seoul metropolitan and busan regional housing market)
  • 국토개발연구원
  • 국토개발연구원


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Title 수도권 및 부산지역의 주택시장 분석(A study on Seoul metropolitan and busan regional housing market)
Similar Titles
Material Type Reports
Author(Korean)

국토개발연구원

Publisher

서울:국토개발연구원

Date 1991-12
Series Title; No 국토연 / 91-33
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Original Format pdf
Subject Territorial Development < General
Holding 국토개발연구원

Abstract

This study was intended to demonstrate the need for developing locally or regionally oriented housing policy. The tope down approach in housing policy, thus policy responses should differ. Consequently, centralized housing far being practiced, may not necessarily work nationwidely because all the local housing markets are unique and thus, policies must be gradually replaced by local ones. Besides, local autonomy will revive soon, but localities are little prepared for developing housing policy on their own, and this study is a small attempt for guiding governments, both central and local, to this direction.
Two regions are selected for the study, Seoul and Busan Metropolitan Regions for the claear reason that both regions have suffered most from various housing problems and thus, that most of the housing policies have been directed to solving them. The basic objectives of the study are twofold; to identify region-specific housing problems and to present a set of recommendations for alleviating them in the regional context.
The study is organized into six chapters. The chapter 2 describes present status of the study areas in terms of population, households, housing conditions, etc. And discussed in the chapter 3 are various theories and methodologies being widely used to analyze housing market both in Korea and in advanced countries. The chapter 4 analyzes the survey data with particular focus on behavioral aspects of housing consumption and residential mobility. The chapter 5 empirically tests various hypotheses using the models specified in chapter 3 and elsewhere. Included are bid-rent model, hedonic regression model, probabilistic choice model and user cost model. The modeling approach also generates some valuable information regarding household behavior in housing market. The final chapter summarizes the study results and presents ways to solve some of the housing problems both at the local and national level. And attached is an appendix to demonstrate the way in which housing policies are formulated taking advantage of information drawn from the market study. Residential land development scheme is taken as an example.
Some of the findings are highlighted as follows ;
1. Substantial level of housing consumption gap exists both regionwidely and among different income groups. The well-to-do enjoy significantly large amount of housing services whereas the poor underconsume while paying higher marginal cost per unit of housing service. The housing industry has not produced enough housing to house the low income households in both regions, and yet, many of the old units have been destroyed for renewal purpose, particularly in Seoul. Therefore, the low income households, the renters in particular, have moved continuously downward.
2. Residential suburbanization is rapidly taking place in Seoul metropolitan Area rather rapidly due largely to new town construction and to an increase in private automobile ownership. In fact, the consumers seem to view the whole metropolitan area as a housing market, and a majority of them are willing to reside in any location within the southern part of the region if transportation is accessible. However, the market is highly segmented in terms of household income and housing type particularly within the city of Seoul. The same is true with the housing market of Busan city. But unlike the Seoul Metropolitan market the Busan regional market is very segregated as evidenced by the fact that over 80 percent of Busan residents would not move elsewhere. The city is physically difficult to integrate with the surrounding localities. (The rest is omitted)

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