Development Direction of Youth Housing Based on the Rental Housing Policy

September 30, 2023  |  Vol.9, No.9  |  PP. 199-214  | PDF

AUTHORS:

Nag Seung Kim, Dept of Real Estate Studies, Kongju National University, South Korea

Jae Hwan Kim, Dept of Real Estate Studies, Kongju National University, South Korea

Hee Cheol Shim, Dept of Real Estate Studies, Kongju National University, South Korea

KEYWORDS:

Public Rental Houses, Youth Housing, Real Estate Issues, Developed Country Model, Developing Country Model

Abstract

In Korea, even though the housing supply rate exceeds 104% as of 2021, there is a gap between ownership and demand where housing ownership is concentrated in some classes. In this situation, as the overall real estate price continues to rise, the possibility of social latecomers such as the younger generation purchasing housing is becoming increasingly distant. This study was conducted with the aim of deriving a sense of problem from this background and proposing a youth housing policy to distribute stable residential spaces to the younger generation. To this end, the history and current status of foreign rental housing policies were first investigated. As a result of the survey, it was confirmed that the overall rental housing policy has undergone a change from the so-called "developing country model" to the "developed country model." In the early industrial era, rental housing policies began as a typical developing country model that values quantity rather than quality of housing, but have since developed into an advanced country model by reflecting the needs of real users and introducing new theories. After defining the characteristics of the two models, a survey of youth housing policies in each region of Korea confirmed that Korea's youth housing policy is in a transition period from a developing country model to an advanced country model. Therefore, it can be seen that the main focus of Korea's youth housing policy in the future is to set an appropriate policy direction during this transition period. Accordingly, this study urged the establishment of a high-quality rental housing policy to secure youth housing that meets the requirements related to end-users.

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Citations:

APA:
Kim, N. S., Kim, J. H., Shim, H. C. (2023). Development Direction of Youth Housing Based on the Rental Housing Policy. Asia-pacific Journal of Convergent Research Interchange (APJCRI), ISSN: 2508-9080 (Print); 2671-5325 (Online), KCTRS, 9(9), 199-214. doi: 10.47116/apjcri.2023.09.16.

MLA:
Kim, Nag Seung, et al. “Development Direction of Youth Housing Based on the Rental Housing Policy.” Asia-pacific Journal of Convergent Research Interchange, ISSN: 2508-9080 (Print); 2671-5325 (Online), KCTRS, vol. 9, no. 9, 2023, pp. 199-214. APJCRI, http://apjcriweb.org/content/vol9no9/16.html.

IEEE:
[1] N. S. Kim, J. H. Kim, H. C. Shim, “Development Direction of Youth Housing Based on the Rental Housing Policy.” Asia-pacific Journal of Convergent Research Interchange (APJCRI), ISSN: 2508-9080 (Print); 2671-5325 (Online), KCTRS, vol. 9, no. 9, pp. 199-214, September 2023.


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