This research report is consisted of seven chapters. The first chapter is an introductory part that explains the background, objectives, limitation of the study as well as the methodologies of the study. The second chapter analyzes the characteristics of current and future housing stock, and points out the problems of the housing stock. The chapter three introduces current policies and programs on housing stock. It explains incentives and regulations on housing rehabilitation, remodeling and reconstruction as well as policy goals and objectives. The chapter four includes micro-economic analysis, structure modeling and policy simulation of structure model to analyze the impacts of policy alternatives. The data used for the econometric analysis are the time-series data of housing market prices in Seoul and macro time-series data such as GRDP, annual interest rate, etc.
The chapter five delineates the problems of policy directions, implementing system, and related policy programs regarding housing stock management. The chapter six suggests the long-term visions of housing stock and proposes new policy directions and strategies. Also various suggestions are made to improve the programs for housing reconstruction, remodeling and rehabilitation.
The chapter seven is a concluding part of the study that includes the summary of policy recommendations, the limitation of the study. The visions for housing stock and policy recommendations in chapter six and seven can be summarized as the following:
-Secure housing stock with various housing types and sizes
-Secure housing stock to accommodate the elderly
-Secure healthy, pleasant, convenient housing stock
-Secure durable and versatile housing stock
-Secure energy efficient stock
●Strategies for the Visions
-Establish a mid-term and long-term master plan for national local housing stock management
-Apply differentiated policies and programs for different localities according to their housing market and general economic situations.
-More incentives are needed to activate housing remodeling and rehabilitation of old units.
-To establish high quality urban spatial planning and community remodeling plan
-To prepare and apply future oriented housing standards
●Recommendation to improve current programs
-Differentiate incentives and regulations considering the market conditions of each locality.
-Improve policy measures considering long-term impacts as well as short-term impacts.
-Control reconstruction projects by spatial planning
-Develop remodeling programs coordinated with housing maintenance and rehabilitation programs
-Increase the incentives in the area outside the capitol region.
-Provide various incentives to activate remodeling single family detached housing.
-Relax the restriction on the area of new addition by housing remodeling
(The rest is omitted)