@article{ART003384075},
author={Jeong, Haesu and Park, Dongha},
title={Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2026},
volume={36},
number={3},
pages={97-120},
doi={10.35136/krer.36.3.5}
TY - JOUR
AU - Jeong, Haesu
AU - Park, Dongha
TI - Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability
JO - Korea Real Estate Review
PY - 2026
VL - 36
IS - 3
PB - korea real estate research institute
SP - 97
EP - 120
SN - 2092-5395
AB - This study identifies institutional reforms that enable shared-equity public housing to function sustainably. Specifically, this study develops a public housing sustainability framework based on sustainability principles and develops a framework that divides housing sustainability into four dimensions: market responsiveness, demand-side needs, supplier acceptability, and institutional coherence. The analysis shows that the current shared-equity system is constrained by supplier liquidity, limited responsiveness to macroeconomic change, weak aliignment with the housing market, restrictions on resident mobility and equity choices, limited predictability of asset values, and inconsistent institutional operation and classification. This study addresses these limitations by proposing equity-adjustable public housing, in which equity shares can be structured flexibly, as a reform direction. This model can be understood as a mechanism through which the balance between ownership and rental characteristics can be adjusted as market conditions and residents’ circumstances change, improve cost recovery and residents’ equity choices, and clarify the intermediate position between rental and for-sale housing. This study contributes to the extant literature by diagnosing current limitations that undermine sustainability and proposing dimension-specific reform directions through equity-adjustable public housing.
KW - Shared-Equity Public Housing;Sustainability;Equity-Adjustable Public Housing
DO - 10.35136/krer.36.3.5
ER -
Jeong, Haesu and Park, Dongha. (2026). Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability. Korea Real Estate Review, 36(3), 97-120.
Jeong, Haesu and Park, Dongha. 2026, "Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability", Korea Real Estate Review, vol.36, no.3 pp.97-120. Available from: doi:10.35136/krer.36.3.5
Jeong, Haesu, Park, Dongha "Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability" Korea Real Estate Review 36.3 pp.97-120 (2026) : 97.
Jeong, Haesu, Park, Dongha. Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability. 2026; 36(3), 97-120. Available from: doi:10.35136/krer.36.3.5
Jeong, Haesu and Park, Dongha. "Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability" Korea Real Estate Review 36, no.3 (2026) : 97-120.doi: 10.35136/krer.36.3.5
Jeong, Haesu; Park, Dongha. Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability. Korea Real Estate Review, 36(3), 97-120. doi: 10.35136/krer.36.3.5
Jeong, Haesu; Park, Dongha. Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability. Korea Real Estate Review. 2026; 36(3) 97-120. doi: 10.35136/krer.36.3.5
Jeong, Haesu, Park, Dongha. Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability. 2026; 36(3), 97-120. Available from: doi:10.35136/krer.36.3.5
Jeong, Haesu and Park, Dongha. "Transition from Shared-Equity Public Housing to Equity-Adjustable Public Housing : From the Perspective of Public Housing Sustainability" Korea Real Estate Review 36, no.3 (2026) : 97-120.doi: 10.35136/krer.36.3.5
