전월세시장 구조변화의 경제적 파급효과 - 소비지출구조에 따른 부가가치유발효과를 중심으로 -

Abstract

This paper analyzes economic effects on structural changes in residential rental markets using Statistics Korea’s Household Income and Expenditure Survey and Bank of Korea’s Input-Output table. For short-term, household consumption expenditure of leaseholders is increasing because household consumption expenditure of Monthly Rent includes monthly rental costs unlike Chonsei. In addition, the total household consumption expenditure of leaseholder is increasing since the increased number of Monthly Rent household is higher than the decreased amount of Chonsei’s household consumption expenditure. For long-term, this trend is expected to continue in residential rental markets, because monthly rental costs shift from leaseholders to landlords in spite of increasing in the housing affordability. Although the proportion of residential rental markets is decreasing due to the increase in proportion of homeowners, the scale of residential rental markets will increase with trade-off between the decrease in proportion of residential rental markets and the increase of total household in the future. Consequently, the structural change in residential rent market is expected to have positive effects for Korea’s economy because of increase in household expenditure and industrial production. Furthermore, the industrial development including Management of Rental Housing will create more employment opportunity which in turn can contribute positively to economic growth.