• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.43-51
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• 2018

We study the impact of economic policy uncertainty (EPU) of Asian four countries such as Korea, Japan, Hong Kong, and China on housing market returns in Korea. Also, we document the relationship between the EPU index of those four countries and the housing market including macroeconomic indicators in Korea. The EPU index of those four countries has significantly a negative effect on the housing purchase price index, housing lease price index in Korea. The EPU index in Korea and Japan has significantly a negative effect on the CPI. The EPU index in only Japan has significantly a negative effect on the PPI. The EPU index in Hong Kong and Korea has significantly a negative effect but the EPU index in China significantly has a positive effect on the stock price index in construction industry. The EPU index in only Korea has significantly a negative effect the stock price index in banking industry. This study shows the EPU index of the Korea has the negative relationships on the housing market economy rather than other countries by VECM. And this study has an important evidence of the spillover of several macroeconomic indicators in Korea for the EPU index of the Asian four countries.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.4
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• pp.743-763
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• 2016

This paper aims to figure out properties of housing system under the socialist market economy, which is formed after China's Reform and Opening-up. The characteristics of Chinese housing system under socialist market economy are actually a subtype of capitalist housing model because of the existing clear commodity housing market and the weakness of public land ownership. Furthermore, the government is leading agent of the capitalistic transition and marketization. Also this government-driven marketization has specialty on the feature based on the socialist tradition such as public land ownership.

• Journal of the Korea Institute of Building Construction
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• v.14 no.6
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• pp.631-637
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• 2014

Recently, following the application of modular housing techniques to not only residential sector, but also to business sector, the scope of modular housing market b expanding. In the case of other developed countries, such markets are entering into the maturity stage, though the market in Korea is not fully formed yet. Thus, it is difficult to check its trend to estimated mid- to long-term prospects of the market. In this context, the study predicted demand of the modular housing market by using a non-linear prediction model based on time series analysis. To get the prospects for the modular housing market, the quantity of housing supply was estimated based on the estimated quantity of newly built housings, and assumed that a portion of the supplied quantity would be the demand for modular housings. Based on the assumption of demand for modular housings, several scenarios were analyzed and the prospects of the modular housing market was obtained by utilizing the non-linear prediction model.

• Korean Institute of Interior Design Journal
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• no.37
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• pp.63-70
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• 2003

Housing market in korea has changed from seller's market to buyer's market since mid of 1990. The housing contractors also changed their conventional ideas and strategies of design of housing facilities in order to survive in the housing industry, They look for ways and means to better respond to client's needs and to better serve user's values. Recently customer relationship management(CRM) technique has been introduced in the housing business. CRM gives emphasis on ongoing relationship with customers. Housing cultural center is a place where customers and contractors can exchange informations. This study aims to extract design and operation issues of housing cultural center.

• Journal of the Korean association of regional geographers
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• v.15 no.1
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• pp.138-160
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• 2009

The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.

• Environmental and Resource Economics Review
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• v.18 no.2
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• pp.311-344
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• 2009

The hypothesis that the common market equilibria for housing attributes are attained within distinctive submarkets was tested. Markets for housing attributes with greater supply flexibility, i.e., structural variables, were found to be closer to their common equilibria than markets with less supply flexibility, i.e., neighborhood and distance variables. In addition, submarkets with greater mobility were found to achieve common market equilibria for more housing attributes with greater supply flexibility, but not for housing attributes with lower degree of supply flexibility. Results suggest supply flexibility and occupier mobility are both necessary conditions for achieving common market equilibria for housing attributes.

• Journal of the Korean housing association
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• v.18 no.2
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• pp.75-82
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• 2007

Under the premise that the housing market is not fixed, but changes organically according to social and systematic environment, it has important meaning as the object of this study to identify the recent housing market's movement by deducing the changed characteristics of the factors to compose the recent new houses. By using the following methodology, this study analyzed the characteristics and mutual relations of the economical and house-composing factors, categorized the investigation object into sub-markets, and executed comparative analysis. First, based on the leading studies analyzing the factors of house price determination and the assessment indicators of 'Green Building Certification Program', the composing factors are deduced. Second, the factors are categorized as economic, housing complex planning and geographical condition. Third, to identify the influence of housing environmental factors on economic factors, the correlation between the former and the latter, and the difference between economic factors are analyzed. Fourth, by segmenting and categorizing the housing market into time and location subgroups, the chronicle trend and the geographical characteristics are analyzed.

• Journal of the Korean Regional Science Association
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• v.6 no.1
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• pp.39-55
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• 1990

The principal measure of housing demand is income and the preferences expressed by households through their respective indifference curves. In this context, housing essentially becomes a derived demand, i.e., the household consumes land and a location (or distance-in time and money costs), according to its relative preferences for space, accessibility, and all other nonhousing goods. This paper attempts to deal with both aspects of housing (apartment) demand and household mobility in the Seoul Metropolitan Areas. Housing services will be measured using hedonic regression technique. From observations on the market prices of dwelling units and on the underlying characteristics of housing, one can estimte the relationships between the two empirically. In predicting the probability of the future moves into new towns in the Seoul Metropolitan areas, the best predictors of the future moves into new best predictors are found to be the degree of satisfaction not only with the current residence as a whole, but with some of the major amenities, accessibility and child education. The reasons for moving into new towns are diverse depending on the households' current situation; the most frequently cited is "improvement of housing conditions," followed by "improvement of living environment," "asset improvement" and "home ownership". It appears that people move houses because of a dissatisfaction with their current housing status, relative their income or needs, or a desire to improve their housing and neighborhood amenities, or both. On the other hand, it is clear that the development of new towns in the Seoul Metropolitan Areas should be based on the analysis of housing demand and the pattern of household mobility in Seoul housing market.sehold mobility in Seoul housing market.

• Journal of Korean Society for Geospatial Information Science
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• v.24 no.2
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• pp.63-70
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• 2016

A housing market in an urban area is not just a single market but a combination of regionally different submarkets. This study begins with a critical mind that previous researches did not consider the spatial autocorrelation of each area where the housings are located. The clustering analysis of housing submarket which considers spatial autocorrelation is performed as it follows. First, 4 housing market attribute variables are reducted to 1 variable by principle component analysis. Then, after calculating $Gi^*max$ by AMOEBA, 7 housing submarkets which have similar characteristics based on $Gi^*max$ are classified. The characteristics of each submarket are investigated, then political implication is deduced as the following. Different level of housing policy should be made to each cluster because each cluster has different level of spatial autocorrelation.

• Journal of the Korean housing association
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• v.25 no.1
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• pp.81-90
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• 2014

As an emerging market in central Asia, Kazakhstan's housing market is witnessing increasing demands. Though Korean construction industries have attempted to take advantage of this opportunity, inadequate understanding of the local living demands have kept the industries from successfully establishing themselves in the foreign context. The goal of this research is to derive architectural planning implications regarding the living demands by investigating changes being made to the housing structure. By analyzing 11 apartment unit plans, it was found that Kazakhs had a living demand for more spacious living rooms and functional spaces. In the effort to improve the livingroom environment and usability such as enlarging the livingroom, removing the living room wall for open space or expanding the inner space facing outside is understood that the living room is considered as an important space. The fact that spaces such as dress rooms and utility rooms are being added in the housing market, reflects the demand of functional spaces. These demands are considered as the reflection of the traditional life style of nomad culture and the cold local climate. Therefore, it can be said that the apartment unit plans distributed in the Korean housing market are quite compatible with the Kazakh housing market since they offer spatious living rooms, while the latter founding implies the changes that ought to be made for a successful establishment in the foreign market.