• The Journal of Economics, Marketing and Management
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• v.12 no.3
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• pp.23-33
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• 2024

This study aims to enhance the accuracy of effective demand analysis for publicly supported private rental housing by integrating the RIR into the traditional Mankiw-Weil (MW) model. Traditional models like the M-W model, which account for household income, housing costs, and household size, often fall short in estimating demand driven by large-scale development projects. By integrating the RIR factor, this study introduces a more accurate and practical approach to analyzing effective housing demand. Findings show that the modified M-W model incorporating RIR predicts effective demand with greater precision than traditional methods. This advancement allows developers to plan projects more efficiently and aids governments and local authorities in implementing more effective housing policies. Furthermore, the study assesses the real housing cost burden on households, elucidating their capacity to pay housing costs based on household size and income quintile. This information enables policymakers to design targeted housing support policies for specific demographic groups. Additionally, the research provides comprehensive policy recommendations tailored to various regions and housing types. Overall, this study lays a vital groundwork for the long-term analysis of the effects of economic changes and housing market trends on effective demand.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2008.11a
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• pp.87-91
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• 2008

With the rise in national GNP, there has been a surge in people requiring adequate housing. The most who are in need of adequate housing are fresh graduates who have entered the job market, and newly-wed couples. Given the current economic condition it is difficult for young people and newly-wed couples to find reasonably affordable accommodations. In response to this, the government is trying to formulate a new policy, with the aim of helping young married couples find decent accommodation in response to the housing shortage. Research was performed last July with the aim of looking at the differences between the newlyweds' expectation of the idealistic housing and conditions. Questionnaires were distributed to undergraduate and postgraduate research students to find out their requirements. The questionnaire investigated the social background and the condition of the inhabited area; housing type internal facilities; the space required for housing; interior finishing, and storage facilities. The survey results were analyzed using SPSS and found that the design of small residential areas, the space requirements of more diversified individualized areas were the most important concerns for undergraduate and postgraduate research students. From the study we hope this will form a foundation for the design of the future housing social stratum. It is hoped that the current results and conclusions of this survey will be of help for the korean community to provide a direction and a positive input in the future design of newly married housing.

• Land and Housing Review
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• v.7 no.2
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• pp.67-75
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• 2016

This research suggests improvement strategies for the problems of 'public housing supplied through the purchase of existing house' by understanding the situation of supply to lowest income class in Seoul where there are many demands. Due to the heavy housing expenditure burden, in spite of the fact that the needs for affordable housings are increasing, the number of 'public housing supplied through the purchase of existing house' which has been supplied to Seoul by LH & SH has decreased since 2009. It is caused by the low standard purchasing price set by government especially Seoul. Since 'the public housing supplied through the purchase of existing house' is targeted for indigenous inhabitants, different supply stocks among different regions cause equity problem. Generally regions with low income class are in short supply, on the contrary the supply is especially concentrated specific regions in outskirts of Seoul. The main reason of such new supply stagnation and regional concentration is the low standard purchasing price. Therefore, it is necessary to increase the government's standard price according to the actual transaction price. Also it is needed to associate actual transaction price's increasing rate with the government's standard price. The housing supply based on demands must be established. In addition, the provision of 'public housing supplied through the purchase of existing house' should be expanded to low-middle income inhabitants and low income youth in the regions where the supply of the affordable housing excess demands.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.869-875
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• 2020

As a basic element for sustainable development, the residential housing industry is vital and fundamental for every country in the world. Therefore, this study examines the impacts of financial considerations on house purchase decisions by housing investors in Auckland, New Zealand. 110 completed questionnaires were statistically analyzed. For testing the proposed hypotheses, Structural Equation Modelling (SEM) was used. The results show that house prices, income, and credit accessibility significantly influence housing investors' purchase decisions in a positive direction. It appears that more expensive houses offer more promising returns such that housing investors having higher levels of income and access to loans are brave enough to invest in such houses. This study aims to present the key factors influencing house purchase decisions from the viewpoint of housing investors as fundamental groups of stakeholders in the property market, which is rarely examined in previous studies. The implication of this study is to provide guidelines for housing regulators in New Zealand to develop affordable housing prices through the availability of land banks. This study also offers practical contributions to housing investors, particularly by providing key guidelines to make effective investment decisions.

• Journal of the Korean housing association
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• v.26 no.1
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• pp.71-79
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• 2015

This study was aimed to explore housing costs and housing cost burdens of early-career young renter households in Seoul Metropolitan area. Between March 10 and April 24, 2014, an online questionnaire survey was conducted to young professionals in Seoul Metropolitan area living apart from their parents. Among the responses collected, this study analyzed 476 useable responses from renter households. Major findings were as follows: (1) Jeon-se renters' deposit was average 2.24 times their annual income; deposit of monthly renters with deposit was average 6.7 times their monthly income and their monthly rent was 18.6 percent of their monthly income; and monthly rent of monthly renters without deposit was about 23 percent of their monthly income; (2) thirty percent of the respondents were found to have housing cost burden paying 25 percent or more of their income for rental costs; and (3) about 55 percent received parental supports to pay current housing costs. The study findings implies that it is critical to extend provision of affordable housing units with small or no deposit for beginning-stage professionals.

• The Journal of the Korea Contents Association
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• v.12 no.11
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• pp.469-481
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• 2012

The demand for small-sized housing has been increasing due to the recession of real-estate price and the increase of small-sized households. Especially, the demand for affordable housing has been increasing since the style of housing and the location fits the lifestyle of small-sized household. In addition, many investors have been buying it because it has advertised as an investment property holding high-return ratio. However, an empirical analysis about the selling price and the return ratio has not been done yet. Therefore, the purpose of the research is having the empirical analysis based on the selling price and return ration by examining the affordable housing in Seoul. The urban-life housing more than 50 generations of the Seoul was irradiated for the analysis. And the linear regression analysis and PLS(Partial Least Square Regression) analysis was used for the empirical analysis. The result of analysis, based on the linear regression analysis, showed that factors including neighboring housing price and subway catchment area have a significant effect to the determinant factors of housing price. The analysis for return ratio showed neighboring housing price, subway catchment area and amenities affects the ratio. Especially, the fault of using small sample was covered by using the partial least square regression in this research.

• 한국사회정책
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• v.25 no.3
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• pp.75-101
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• 2018

The purpose of the study was to examine the difference of housing welfare outcomes between public rental housing and market rental housing. Housing welfare is defined as living at adequate, affordable housing with stability and measured as substandard housing, unaffordable housing, unstable housing. This study was based on 2016 Housing Fact Finding Survey, sampled the households which their incomes are below 120% average income of city workers. This study controlled the socio-economic characters of householders to identify the difference of housing welfare performance between public and market rental housing. The study showed the ratios of public rental housing of substandard housing and unaffordable housing are not low. But It is revealed that the achievements of housing welfare of the public rental housing are better than market rental housing and the differences between them are more consistent after controlling the socio-economic characters of householders. The problems of substandard housing, unaffordable housing and unstable housing in market rental housing are more than public rental housing. This study provides the basis that the regulation for market tenant protection should be reinforced and the policy of public housing should be expanded and improved for housing welfare.

• Architectural research
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• v.15 no.1
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• pp.25-33
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• 2013

The amount of construction waste increased to 176,447 ton/day in 2008 from 28,400 ton/day in 2000, a 6-fold increase in just 10 years. Such dramatic increase in the waste of concrete, asphalt concrete, wood and metals was due to demolition of old buildings as well as a great number of building redevelopment projects and hurried city industrialization. Many buildings targeted for demolition today were built in line with the government policy to provide affordable housing to citizens in the shortest time possible and consequently, said buildings underwent rapid deterioration and required periodic repairs and reconstruction. Based on the above, we predict that construction waste will continue to increase for the foreseeable future. In particular, due to limited availability of suitable space to construct apartments and residential buildings in the city, old buildings are being torn down to make space for new development, further increasing construction waste. In light of that, efforts to recycle as well as reduce generated waste are urgently required.

• Human Ecology Research
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• v.54 no.6
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• pp.589-598
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• 2016

The study finds a constructive way to improve shared houses by analyzing shared house living conditions, satisfaction of the residents and potential consumer's needs. For this, a survey of 179 single-person university residents and interviews with seven young adults residing in shared house was conducted. The results showed that shared house tenants had high satisfaction in regard to bedrooms, common spaces, and rental costs. They successfully adapted to community life by frequently using the living, dining spaces, and common spaces with respect and consideration towards other tenants by following rules. Single-person university household should prefer single rooms and the biggest consideration when they move into a shared house is rent. Affordable rates were 300,000 to 350,000 Korean Won per month (40.5%) and deposit of 3 million won or less (64.3%). Results also showed a need for a professional manager residing in the house with a cleaning service for common spaces and a want to share hobbies with other tenants (3.25/5 point scale). It is very important in a housing welfare perspective that one experiences the value of living and emotional sharing to heighten the satisfaction through shared houses. It is essential to put effort into developing a service that reflects consumer's needs for shared houses to continue as a housing alternative model for young adults.

• Journal of the Korean housing association
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• v.24 no.3
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• pp.19-26
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• 2013

The purpose of this research is to provide basic data for the promotion strategy to activate modular construction system as residential facilities, through a study on the architectural planning, institutions and policies and research on connection details, for the use as residential facilities of the modular construction that is not actively supplied for the general residential facilities. As a result, I suggest sample model plan of domestic and foreign case analysis and characteristic of modular construction and practical application of modular construction for Residential Facilities. Owing to many advantages including short construction period structural stability and economic benefits, modular construction is expected to play a role as residential alternative of socially controversial affordable housing and weekend homes, and potential housing shortage after reunification; and to contribute to the development of design automation and industrialized constructions. Though Korea is still lacking development of the system that meets the domestic context, if supported by ongoing researches on the development of construction methods, materials and details, the settlement of appropriate modular residential facilities to suit the national situation will serve a possible alternative solution for many housing and environmental problems.