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An Analysis of Residential Location Preferences: Accommodating Critical Levels of Residential Location Factors and Household Heterogeneity

Backjin LEE ORD ID 1,  Minho Seo 1,  Hyeran Kim 1,  정일호 1

1국토연구원

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ABSTRACT

Enhancing the linkage between housing and transportation policies is necessary to put a premium on the quality and the consumer’s preference rather than the quantitative expansion in providing housing and transportation facilities. An important issue in here is to investigate consumer’s preference more explicitly and in deeper detail. The paper aims to explicitly investigate the effects of transportation related factors on residential location choice and to analyze the heterogeneity of consumer’s preference. The paper newly introduces the concept of critical levels of housing price and commuter time, representing the maximum value that consumer can take underlying residential location into consideration. Stated preference(SP) survey was performed to collect respondents’ preferences on residential locations. Some results can be summarized as follow. A result of developing survival models showed that critical levels of housing price and commute time were significantly different by household characteristics. The explanatory power of residential location choice models was significantly improved by incorporating critical levels of commuter time and household heterogeneity.

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