Korea Real Estate Review 2021 KCI Impact Factor : 0.75

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pISSN : 2092-5395 / eISSN : 2733-8339

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2020, Vol.30, No.3

  • 1.

    A Study on Developing and Utilizing the Preservation Index of the Historical and Cultural Environment Based on a Land Price Index Table

    Song, Ha Seung , Lee, Jin Hui | 2020, 30(3) | pp.7~21 | number of Cited : 0
    Based on the Cultural Heritage Protection Act, the Historical and Cultural Environment District (HCED) belongs to the social regulation (planning regulation) for the benefit of the public. However, there is no community support program that is equivalent to the regulation. In order to introduce the program, it is necessary to discuss its validity and objective criterion for delivering incentives to the communities in HCED. For this reason, the main purpose of this study is to develop a preservation index (PI) of the historical and cultural environment by utilizing a land price index table. The PI, which is referred to as the degree of planning regulation, is calculated on the basis of a land price gap before and after the designation of the HCED. That is, the PI in a parcel can be higher, as the parcel is closer to urban land use and more restricted by the Cultural Heritage Protection Act. As a result of the preservation grade (PG) derived from the PI, the PG 1 and PG 2 regarding higher PI scores are estimated to be 17.0% (12.9 ㎢) and 19.2% (0.72 ㎢) of the HCED in Gyeongju and Suwon, respectively. In addition, the total amount of PI is 54.2 in Gyeongju and 33.1 in Suwon. Lastly, in terms of policy, this study suggests to utilize the developed PI (PG) as the criteria for determining the size of the incentives to communities, allocating a scale of subsidies to the local governments, and monitoring a nationwide PI.
  • 2.

    A Study on the Factors Affecting Net Wealth: Using Unconditional Quantile Regression

    Park, Hyun Jun , Jin, Chang Ha | 2020, 30(3) | pp.23~35 | number of Cited : 1
    Using the KLIPS (Korean Labor and Income Panel Study) from the period 2001~2017 and the unconditional quantile regression model, we analyze the factors affecting household net wealth. We adopt the unconditional quantile regression method which estimates a marginal effect of each quantile. We find that total income of households, living in the metropolitan area, the real estate asset ratio, real estate asset ratio without residential housing, and housing ownership period all strongly affect the net asset of 25, 50, 75 quantile of the households. Furthermore, we attempt to analyze the net asset gap of the age-group by employing RIF-decomposition for each sub-group. We find that housing ownership strongly causes the net asset gap between the respective age-group at the 25, 50, 75 quantile. By considering the different characteristics of households in each quantile and age-group, policymakers can further refine and reinforce the current policy.
  • 3.

    Characteristics of the Supply and Financing System of Affordable Housing in Major EU Member States and Domestic Use Measures - Comparative Case Analysis of France, the Netherlands, and Germany

    Park, Won Seok | 2020, 30(3) | pp.37~52 | number of Cited : 0
    Abstract PDF
    The purpose of this study is to analyze the characteristics of the supply and financing system of affordable housing, and to derive policy implications for domestic use measures. The study results are summarized as follows. Based on the perspective of the housing system theory, France, the Netherlands, and Germany all adopt a unitary rental system and selective general model/mass model, so the focus of the housing policy is on the expansion of affordable housing. The supplier of affordable housing is both public and private, and the target class of affordable housing is mainly below the middle income class. Furthermore, the rent is differentiated according to the income level. For the expansion of affordable housing, these countries have various financial support systems and private financing means for the sustainable operation of affordable housing. In Korea, it is necessary to expand affordable housing in order to reduce the blind spot for residential welfare. It is also necessary for institutional investors to prepare a supply plan for the systematic supply of affordable housing. In this way, the study proposed a non-profit enterprise model and a for-profit enterprise model.
  • 4.

    A Study on the Determinants of Sales in the Food Service Industry in the Transit Station Area in Seoul

    Kim, Yong Rae , Baek SungJoon | 2020, 30(3) | pp.53~70 | number of Cited : 2
    This study compared and analyzed the location factors affecting sales of the food service industry overall and sales of the Korean food service industry using the OLS model, SLM, and SEM spatial regression model by targeting commercial areas around the transit station area in Seoul. Results of the study are as follows. First, it was found that the food service industry overall and the Korean food industry had a spatial autocorrelation, exhibiting a strong tendency to cluster in GBDs rather than in CBDs and YBDs. Second, in terms of the model’s suitability, the SEM model was found to be superior over the OLS and SLM models for the food service industry overall and for the Korean food industry. Third, the ratio of apartment households and the number of entrances of subways and whether or not to transfer to express trains have a positive effect on sales and so does the number of large-commercial facilities. Fourth, among the transfer factors considered important in this study, the number of transit trains had a negative effect on sales of the food industry overall and the Korean food industry, but it is important that the result has a statistical significance on sales of the Korean food industry. In conclusion, this study has several merits. First, it focused on the factors of transportation and transfer that were not covered in previous studies. It is also important to examine the development of commercial areas around the subway and other public transportation stations when establishing a restaurant business in the transit station area. In addition, as the food service industry is clustered at the GBD, it is necessary to analyze the determinant factors and to formulate a meaningful policy for the development of the commercial areas around CBD.