Journal of the Korean housing association (한국주거학회논문집)

The Korean Housing Association (한국주거학회)
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The Improvement of Housing Affordability by Transportation Savings in the Suburbs of Seoul Metropolitan

통근비용절감을 통한 서울근교도시 거주자의 주택구입능력 개선효과

  • 최정우 (한성대학교 경제.부동산학과) ;
  • 백성준 (한성대학교 부동산학과) ;
  • 이종훈 (한성대학교 부동산대학원)
  • Received : 2012.06.25
  • Accepted : 2012.09.27
  • Published : 2012.10.25
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Abstract

This study has analyzed the effect of the housing affordability improvement of the residents in the metropolitan areas, applying Transit Supportive Home Loan (TSHL) which extends the loan amount according to the transportation cost saving based on Location Efficiency Mortgage (LEM) System in the USA. The previous studies focused on introducing LEM system to Korea, whereas this study has analyzed TSHL effect for the first time, taking into account the situation in Korea. For analysis, The Transportation Savings (TS) is calculated and Housing Affordability Index (HAI) is drawn by applying increased TS and DTI (Debt to Income), so the improvements of housing purchasing ability is examined by HAI's improvement. As a result, transit commute 1 (having own car) and transit commute 2 (without having own cars) respectively produce the TS of monthly average 36 thousand won and 110 thousand won in comparison with car using commute. Each additional loan (TSHL) amounts to 16.57 million won and 54.07 million won. As the distance is farther and the house price cheaper, the improvement of HAI is more outstanding. City hall area showed the highest improvements of HAI by 9.3% (transit commute 1) and 21.9% (transit commute 2) increase, in comparison with car using commute.

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References

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