• Journal of the Economic Geographical Society of Korea
• /
• v.15 no.4
• /
• pp.585-600
• /
• 2012

The purpose of this study related to the liquidity impact of the housing market variables using vector auto-regressive model(VAR) and empirical analysis is to derive some policy implications. October 2003 until May 2012 using monthly data for liquidity variables mortgage rates, mortgage, financial liquidity, as the composite index and nation, Seoul, Gangnam, Gangbuk, the Apartment sales prices were analyzed. Granger Causality Test Results, mortgage rates and mortgage at a bargain price two regions had a strong causal relationship. Since the impulse response analysis, Geothermal difference there, but housing price housing price itself, the most significant ongoing positive (+) reactions were liquidity-related variables are mortgage loans is large and persistent positive (+), financial liquidity weakly positive (+), mortgage interest rates are negative (-), KOSPI, the negative (-) reacted. Liquidity and housing prices that the rise can be and Gangnam in Gangbuk is greater than the factor that housing investment was confirmed empirically. Government to consider the current economic situation, while maintaining low interest rates and liquidity of the market rather than the real estate industry must ensure that activities can be embedded and local enforcement policies should be differentiated according to the policy will be able to reap significant effect.

• Journal of the Korean housing association
• /
• v.5 no.2
• /
• pp.51-63
• /
• 1994

The purpose of this study are to examine the types and sources of information used for housing choices and to figure out the related factors. Data are collected through self-administered questionnaires designed for this study, and the sample consists of 396 households in Pusan and Ulsan. The purposes are accomplished through descriptive statistics and multiple regression analyses. Based on the results of analysis, housing information are divided into four specific types : economic. technical, housing unit, and neighborhood information. It is found that housing unit information including housing quality and economic information such as housing prices are identified as the most important ones for current and future housing choices. The most useful sources of housing information utilized for current housing are friends, relatives and neighbors. In addition, model house, real estate office, newspaper and adverizement are the another useful sources for housing information. Among them, the model house is the most helpful one for variety of housing information. Young households and those with a head whose occupation is professional/managerial tend to have higher recognition of the importance of housing information than do the other groups. The households currently living in small apartment and with a young eldest child are likely to have higher recognition of the importance of econimic information. Tenure type, the occupation of the household head, the age of the eldest child, and length of residence are the significant explanatory variables of the recognition of the importance of housing unit information.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.3
• /
• pp.518-527
• /
• 2016

The housing market is changing continuously according to the place and time and these changes have a ripple effect across various fields. On the other hand, the amount of housing that is consumed in the region also acts as a central cause of price movement. Moreover, the cause of variations in the housing market can be separated according to the characteristics of the housing consumer. In addition, the individual characteristics of the consumer varies according to the region. As a result, a study on the regional causal relationship of the housing market is underway. Although significant research has been done on the domestic home sales market, there has been limited research on the housing charter market. Therefore, in this paper, regional causal relationship of the housing market in the Gangnam and Gangbuk area in Seoul and Gyeonggi Province was analyzed using the vector error correction model, and is segmented by housing sale market and housing jeonse market. In addition, housing sale and housing jeonse of Gangam, Ganbuk and Gyeonggi province are defined as analysis variables, and time series data is the monthly material of June 2003 to November 2015. The results of the analysis, in the case of the housing sale market, showed that fluctuations in house prices in Gangnam area have a major influence on the fluctuations in house prices in the surrounding region. Similarly, in the case of the housing jeonse market, it was found that the jeonse price of Gangnam area has a significant impact on the jeonse price of housing in the surrounding area.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2023.11a
• /
• pp.213-214
• /
• 2023

The burden of housing heating costs has increased as energy prices such as global oil prices (28.1%), LNG (38%) and minerals (100%) have soared due to the Ukraine crisis. Accordingly, an electrically conductive cement composites had developed using waste carbon materials such as waste cathode materials, waste CNTs, and waste carbon fibers, and the heat generation performance was evaluated.

• The Journal of the Convergence on Culture Technology
• /
• v.7 no.4
• /
• pp.607-612
• /
• 2021

This study estimated the impact of the shock of housing price increase on the total fertility rate and the contribution of each variable to changes in the TFR. This study is differentiated by estimating the contribution rate of each variable to the fertility rate through the Shapley decomposition and the panel VAR's forecast error variance decomposition, which previous studies have not attempted. The main results of this study are as follows. First, the decline in the TFR in Korea has been strongly influenced by the recent decline in the total fertility rate, and this influence is expected to continue in the future. In the case of housing costs, in the past, housing sales prices had a relatively small contribution to changes in the total fertility rate compared to the jeonse prices, but their influence is expected to increase in the long term in the future. It has been demonstrated that private education expenses other than housing sale price and Jeonse price also acted as a major cause of the decline in the total fertility rate.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.1433-1439
• /
• 2009

Best value is the ultimate goal of the owner and can thus have diverse meanings according to the project characteristic, owner's purpose, user groups' payment capability, etc.. Recently, resettlement problems of the marginalized members in the urban regeneration area have been issued in Korea because they have no capability to purchase (or lease) redeveloped housing (or apartment). It means that a minimized production cost for reducing supply price of housing is a key factor in establishing the best value of the marginalized members. The lowest-price bidding system serves the purpose of ensuring a minimized production cost, but due to the low-cost investments, it creates various problems, such as sloppy construction, lowered quality, an increased LCC, and worsening profitability for builders. Thus, to help them resettle, it is necessary to supply affordable housing geared towards a certain appropriate quality and minimum construction costs. Towards this end, this study aimed to propose a cost reduction bidding system based on a technical proposal. The proposed technical-proposal-based cost reduction bidding system consists of the following components: work-unit-based, project-unit-based, and construction-period-reducing technical proposals. These components are evaluated to select the best bidder for a given project. The technical proposal based cost reduction bidding system proposed herein is expected to provide facilities with appropriate supply prices and appropriate quality levels, to bolster the technological competitiveness of builders.

• Journal of the Economic Geographical Society of Korea
• /
• v.22 no.4
• /
• pp.555-575
• /
• 2019

Though housing market varies spatially, housing policy is limited in reflecting detailed regional differentiation. This study looked at the differences in Seoul Gu Districts' response to housing policy for the efficient implementation of housing policies in the future. Housing policy index was established by each Gu-districts' according to investigated housing policies from 2003 to 2018, weighted in two categories(financial/urban planning) and the status of designated areas. The VECM model was established to analyze the impact of the housing policy on the housing market. According to the analysis, although housing policies were established in response to market prices change, the impact of policies on prices was lower than the impact of vice versa. The housing policy's impact to the housing market is limited in some areas in northeastern Seoul. These results show that there are differences in the responses to housing policy in Seoul districts', and therefore detailed consideration of the differences in the regional aspects of housing policy is needed.

• The Journal of Industrial Distribution & Business
• /
• v.7 no.3
• /
• pp.27-36
• /
• 2016

Purpose - Considering the importance of housing needs to real estate market, domestic studies on real estate prices from the perspective of demand are basically based on macro-data, but relatively few are associated with micro-data of urban real estate demand. We try to find a reliable relation of elasticity of demand and commercial housing market. Research design, data, and methodology - In this paper, we have derived housing demand theoretic method and have utilized micro-data of residential family housing survey of downtown area in Kunming City in October, 2015 to estimate income elasticity and price elasticity of housing demand respectively and make a comparative analysis. Results - The results indicate that income elasticity and price elasticity of families with owner-occupied housing are both larger than those of families with rental housing. Income elasticity of housing demand of urban residential families in Kunming is far below the foreign average and eastern coastal cities level, however, the corresponding price elasticity is far higher. Conclusions - We suggest that housing affordability of urban families in western China are constrained by the level of economic development, and the current housing price level has exceeded the economic affordability and psychological expectation of ordinary residents. Furthermore, noticing the great rigidity of housing demand, the expansion space of housing market for improvement and for commodity is limited.

• Journal of the Korean Data and Information Science Society
• /
• v.25 no.1
• /
• pp.65-76
• /
• 2014

Housing prices are influenced by external shock factors such as real estate policy or economy. Thus, the intervention effect is important for the development of forecasting model for housing price index. In this paper, we examined the degree of effective power of external shock factors for forecasting housing price index and analyzed time series models for efficient forecasting of housing price index. It is shown that intervention models are better than other models in forecasting results using real data based on the accuracy criteria.

• Proceeding of Spring/Autumn Annual Conference of KHA
• /
• 1992.11a
• /
• pp.45-51
• /
• 1992

The purpose of this study was to predict the spatial housing demand of households in Seoul with the use of residential choice probabilitics. An multinomial legit model is developed using socio-demographic and housing characteristics. SAS package was utilized to estimate this model. This study used the data obtained by the Korea Rosearch Institute for Human Settlemente in 1989. The sample size was 3941 households in Seoul.The residential choice probability varicd depending upon the residential area, head age, head age, tenure and work place. The households with students were more likely to choose kangnam are. The households without young children had higher probability to choose new town near Seoul. Prime reason of this two results were considered the chi Id education and their better housing, Kangnam area was known to be the first consideration for residential choice regardless of work place. Low level of choice probability of kangman area for future residences however, was evidenced. Prime reason of such seemingly contradicting phenomenon is suspected for higher housing prices and limited affordability of people surveyed.