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Changes in Housing Tenure Rates and Housing Tenure Propensity in Seoul Metropolitan Area between 1995 and 2005

진홍철 1 강동우 1 Lee, SeongWoo 1

1서울대학교

Accredited

ABSTRACT

This paper examines the characteristics of change in housing tenure rate in Seoul Metropolitan Area(SMA), which has experienced rapid socio-economic changes since Financial Crisis in 1997, especially on housing tenure propensity change in age groups and regions. Decomposition Method was used to investigate housing tenure rate change from 1995 to 2005 in SMA. The statistical result shows that housing tenure rate has increased in SMA and that the disparity of housing tenure rate gap has decreased with regards to educational attainments and occupations even though it has increased with respect to gender and marital status. Also, housing tenure propensity has increased over age 46 and under age 36 largely but age group 36 to 45 has experienced small increasing and even decreasing in housing tenure propensity. Geographically, Seoul's housing tenure propensity has increased considerably and the rate of households who have strong housing tenure propensity has increased in Incheon and Gyeonggi-do. Based on these results, we drew two implications. First, during the period 1995 to 2005, socio-economic change had different impacts on age groups' housing tenure propensity, respectively. Second, since Financial Crisis in 1997, geographical housing tenure propensity in SMA changed distinctively thus this change would aggravate local housing market supply-demand mismatch.

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