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Inter-Temporal Comparison of the Characteristics and Backgrounds of Unsold Housings
Korea Real Estate Review
2009,
19(2), pp.259-278
Publisher : korea real estate research institute
Research Area : Law of Real Estate
Publisher : korea real estate research institute
Research Area : Law of Real Estate
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The main purpose of the paper is to make an inter-temporal comparison of the characteristics and backgrounds of unsold housings. For this it is assumed that unsold housings were happened three times after 1990s. And then the paper attempted to investigate the questions of whether there exists any differences or similarities among the three different periods of unsold housings. Some interesting findings are as follow: First, the pattern of unsold housings are different by region. In particular, the unsold housings problem in the Non-Capital Region is getting worse due to its high housing supply ratio as well as regional policy towards balanced regional development. Second, the average size of unsold housing units has become bigger and bigger since most of housing companies has focused on building the middle-size and large-size apartments to enjoy higher profits after abolishing the government's regulation on the size of housing units. Third, the unsold housings supplied by the private sector have continuously increased partly because the public sector has concentrated in constructing rental housings during the same period, and partly because the number of housing companies has sharply increased during the booming period.
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