The objective of this study is to evaluate major regulations on the housing market introduced or expanded during 2003 and 2007. The study, as conclusion, suggests whether to deregulate the regulations or not and when to deregulate them if needed.
This research report is consisted of seven chapters. The first chapter is an introductory part where the objectives of study and research scope, methodologies are described. The methodologies employed in this study include B/C analysis, expert survey, workshops and the reviews on research papers and reports previously presented.
In chapter two, the theories of the regulation are briefly reviewed. Especially, problems that could be caused by inadequate regulations are explained. Also the criteria to evaluate regulations are introduced.
In chapter three, seven regulations which seem to have big impacts on the housing market, are described in detail. The seven regulations are ‘housing price ceiling regulations’, regulation on the sizes of newly built apartments’, ‘requirement of rental housing supply in the housing reconstruction project’, ‘recapturing levy on the profits from housing reconstruction projects’, ‘requirement of opening the housing construction costs of newly built housing’, ‘restriction on the resale of newly built housing’ and ‘designation of excessive speculation area’.
In chapter four, seven regulations introduced in chapter three, are evaluated by the criteria suggested by the prime minister’s office and the national regulatory reform committee. The evaluation criteria include ‘necessity of regulation to solve the problem of the market’, ‘the level of regulations’, ‘benefits and costs of regulations’ and ‘effectiveness of regulations in solving problems’.
In chapter five, the results of housing expert e-mail survey to find out experts’ positions about seven housing regulations. The survey questionnaire asked how they evaluate the regulations, and asked whether to deregulate or not, and when to deregulate if needed.
In chapter six, future directions of the seven housing regulations are suggested with the synthesis of the results of evaluation in chapter four and five. The final recommendations suggested in this chapter include the following:
〮To abolish the housing price ceiling regulation on the housing built in private land, while to maintain the regulation on the housing built in public land for the time being.
〮To maintain the regulation on housing sizes to ensure more than 20% of newly built housing units to be smaller than 60㎡ for the time being, but to replace the regulation with appropriate incentives in the future.
〮To replace the requirement of rental housing construction in the housing reconstruction project with the bulk ratio incentive to promote 「Bo-Keum-Ja-Ri」 housing construction in housing reconstruction projects, that was proposed by current administration.
〮To maintain ‘recapturing levy on the profits from housing reconstruction projects’ for the time being but to reevaluate the provision again in three years whether to abolish it or not considering the housing market situation at the time.
〮To maintain ‘requirement of opening the housing construction costs of newly built housing’ in case when built both in public land and private land in the areas designated as excessive speculation area.
〮To maintain current level of the restriction on the resale of newly built housing units, that was relaxed already in November of 2008.
〮To maintain the provision that allows to designate excessive speculation areas to control speculation effectively.
The seventh and the last chapter is closing part that include the summary of policy recommendations with expected contributions to policy making and some limitations of this study.
- 주요 주택규제의 평가와 개선방안 연구 (A study on housing regulation reform)
주요 주택규제의 평가와 개선방안 연구 (A study on housing regulation reform)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Territorial Development < General|