@article{ART001455014},
author={Jang Kyoung-Seok and 허윤경 and 김형민},
title={The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2010},
volume={65},
pages={3-17},
doi={10.15793/kspr.2010.65..001}
TY - JOUR
AU - Jang Kyoung-Seok
AU - 허윤경
AU - 김형민
TI - The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea
JO - The Korea Spatial Planning Review
PY - 2010
VL - 65
IS - null
PB - 국토연구원
SP - 3
EP - 17
SN - 1229-8638
AB - Over the last three decades South Korea has attempted to ensure the affordability of housing through a policy of housing size-limit regulations. The regulations require that a specified portion of housing development projects undertaken by developers be limited to 85㎡. However, little is known about the direct effects of such regulations on the actual affordability of housing. This study analyses the differences in per meter squared prices of small and large sized housing in order to investigate the market effect of housing size-limit regulations. This study is based on the Fischel's market effect model in the land use regulation (1985). The data for this study is the quarterly basis ‘housing supply record,’ 2000 to 2009 (38 quarters) in the capital region. The results of the analysis show that, since 2000, there has been a growing per meter squared price differential between small and larger sized housing. The differentials reflect regional conditions with Seoul, Kyeonggi and Incheon respectively showing the first, second and third largest price differences. On the other hand, the price differentials per ㎡ in the capital region are increasing as the price change differences between the stocks of small housing, the supplies of small housing and housing size are getting larger and lager. This finding thus implies that, contrary to the policy objective that improves the affordability of housing, the size-limit regulation has brought about adverse effects that have increased the gap in prices between small and larger sized housing.
KW - Housing Size Regulation;Market Effects of Regulation;Panel Data Analysis
DO - 10.15793/kspr.2010.65..001
ER -
Jang Kyoung-Seok, 허윤경 and 김형민. (2010). The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea. The Korea Spatial Planning Review, 65, 3-17.
Jang Kyoung-Seok, 허윤경 and 김형민. 2010, "The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea", The Korea Spatial Planning Review, vol.65, pp.3-17. Available from: doi:10.15793/kspr.2010.65..001
Jang Kyoung-Seok, 허윤경, 김형민 "The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea" The Korea Spatial Planning Review 65 pp.3-17 (2010) : 3.
Jang Kyoung-Seok, 허윤경, 김형민. The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea. 2010; 65 3-17. Available from: doi:10.15793/kspr.2010.65..001
Jang Kyoung-Seok, 허윤경 and 김형민. "The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea" The Korea Spatial Planning Review 65(2010) : 3-17.doi: 10.15793/kspr.2010.65..001
Jang Kyoung-Seok; 허윤경; 김형민. The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea. The Korea Spatial Planning Review, 65, 3-17. doi: 10.15793/kspr.2010.65..001
Jang Kyoung-Seok; 허윤경; 김형민. The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea. The Korea Spatial Planning Review. 2010; 65 3-17. doi: 10.15793/kspr.2010.65..001
Jang Kyoung-Seok, 허윤경, 김형민. The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea. 2010; 65 3-17. Available from: doi:10.15793/kspr.2010.65..001
Jang Kyoung-Seok, 허윤경 and 김형민. "The Market Impact of Housing Size-limit Regulations in the Capital Region of South Korea" The Korea Spatial Planning Review 65(2010) : 3-17.doi: 10.15793/kspr.2010.65..001
