Abstract

The upswing of housing Jeonse prices has recently long lasted in the Jeonse market of Korea, and the lease market structure has switched rapidly from the Jeonse structure to the monthly-rent one. In general, Jeonse is the institution that low-income brackets or common people use, and so the excessive rise of the Jeonse price may have an adverse effect on the residential stability of common people. And the structural change of the housing lease market from Jeonse to monthly rent is an indispensable tendency but the monthly rent comes to reduce the disposable income of the tenant and derogate from the upward mobility of housing in a long-term period. Accordingly, the problem is that the structural change of the housing lease market has switched to the monthly rent structure with great rapidity. This study attempted to make a comparative analysis of the characteristic of the housing Jeonse and monthly rent markets in Seoul and that of other localities under this change of the market under consideration and analyze the balance between the housing Jeonse market and the monthly rent market. As a result, it was found that unlike localities, the rise of Jeonse prices in Seoul did not induce the sale price to rise any longer. And it was found that the rise of Jeonse prices would be inevitable for some time in the future for the balance between Jeonse and monthly rent markets to be achieved.

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