Abstract

This study investigates the type of housing tenure in investment preference groups and consumption preference groups by region and housing type using Korea housing survey data. The main findings of this study are summarized as follows. First, in the estimation by region and housing type, demographic characteristics have greater effects in the consumption preference group, but socio-economic characteristics have greater effect on tenure in the investment preference group. Second, it is confirmed that the metropolitan investment preference group has a greater transitory income effect, compared to non-metropolitan investment preference group, which indicates that the metropolitan area is more sensitive to the transitory income effect. Third, in the case of apartments, the investment preference group is very sensitive to transitory income while the effects of income, permanent income, and transitory income are not significantly observed in the housing investment preference group.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call