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A Comparison of the Long-Term Housing Demands by Region

  • Korea Real Estate Review
  • 2019, 29(3), pp.93-103
  • DOI : 10.35136/krer.29.3.6
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Received : June 28, 2019
  • Accepted : September 6, 2019
  • Published : September 30, 2019

Hong Jengei 1 Choi, Han Jae 1 Song, Min Jae 1 Hong, Si On 1

1한동대학교

Accredited

ABSTRACT

This study estimates the long-term changes in the regional housing demands caused by the changes in the population structure, and compared the estimation results. Based on the household finance and welfare survey and the population projection of Statistics Korea, the modified M-W model is examined. The results show an increase in housing demand with an increase in age. The long-term housing demand forecast shows that the housing demand l continues to increase by 2045. It is expected that the housing demand increases steadily in the meantime due to the high growth rate of the housing demand in the Sejong, Jeju, and Chungcheong provinces. The growth rate of the housing demand in Seoul, Busan, Daegu, Ulsan, and Gwangju, however, slows down faster than in the other regions, leading to a decline in housing demand. The study shows that the differences in population structure changes by region are significant.

Citation status

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