In the first year of the study, the goal was to establish a research methodology and establish basic data. First, the structure and characteristics of urban spaces, the characteristics of the housing market, the identification of sub-housing markets, ...
In the first year of the study, the goal was to establish a research methodology and establish basic data. First, the structure and characteristics of urban spaces, the characteristics of the housing market, the identification of sub-housing markets, and prior studies related to housing market policies were reviewed to examine pending issues, derive research topics and directions, and to analyze the housing market.
In the second year of the study, in order to establish a theoretical model for analyzing regional characteristics, the focus was on establishing basic data and establishing basic directions. In particular, as the supply and demand imbalance intensifies locally due to the discriminatory pattern affecting the supply and demand of large cities, the differentiation of regional housing markets was studied using sales prices and trading volumes, which are representative indicators of the characteristics of the housing market.
In the third year of the study, it was intended to subdivide the housing market by city and derive policy directions. In order to understand regional characteristics, basic data on variables representing population characteristics, household characteristics, housing and housing market characteristics, and location characteristics were constructed using indicators related to the housing market. Next, the housing market was subdivided based on the spatial characteristics and differentiation derived from each region to identify the sub-market, and the indicators shown by each city and sub-market were compared and evaluated, and the policy directions and implications required for the housing market were derived based on the results. Finally, by comprehensively comparing and analyzing various aspects of the city's residential environment, we tried to present a standard for multidimensional residential environment management by avoiding uniform housing supply projects that have focused on housing supply and reflecting social, cultural, economic factors and spatial values.
Accordingly, the research results and utilization plans are as follows.
First, in the process of dynamic urbanization, representative Korean large cities that contain the characteristics of complex urban spatial structures by region are separated by residential area, and spatial residential separation appears within the same city. Focusing on 205 administrative dongs in Busan, it was subdivided into sub-housing markets according to changes in housing prices and transaction volume, and attempted to analyze the aspects of residential preferred areas according to temporal and spatial volatility in 2010 and 2015. Through this, although it is a residential space distributed within the same city, the differentiation of residential areas appeared due to heterogeneous characteristics according to population, households, housing, and transactions. Therefore, the flow of the housing market is expected to be differentiated in the future, especially in areas where the supply of new houses may occur. In particular, not only Busan, which has been the spatial scope of the study, but also metropolitan areas are expected to have a clear tendency to prefer housing, especially in specific areas, and spatial differentiation is expected to continue.
Second, it was confirmed that the volatility of housing prices and transaction volumes is expanding in various patterns, centering on specific regions or cities due to local supply and demand imbalances and strong housing policies. Granger causality analysis, shock response analysis, and variance decomposition analysis were performed for seven large cities across the country, including Seoul, using the apartment sales price index and trading volume from January 2006 to December 2019. Through this, it was found that fluctuations in sales price and transaction volume had an effect with mutual causal relationship, but there were differences in correlation and influence by region. Korea's housing policy has repeatedly expanded housing supply quantitative expansion and suppression policies in terms of supply and demand in terms of the government's intervention in the market if efficient allocation of resources is not achieved through the market. In a situation where the government recognizes the inefficiency of the housing market and intervenes in the housing market, it is necessary to determine the policy by setting a long-term and short-term purpose to achieve the direction and policy effect suitable for the structure of supply and demand by region.
Third, indicators were selected to diagnose the decline and change of the entire city or some areas of the city in a situation where low growth and population decline were fixed, centering on six major metropolitan cities such as Busan, Daegu, and Incheon, and the complex decline index was calculated. In addition, in order to examine how the degree of decline in the region is changing compared to the past, the characteristics of decline were derived through comparison and analysis between 2010 and 2019. As a result of the analysis based on the complex decline index, it was found that the six metropolitan cities were declining throughout the city, and the degree of decline was more serious in certain areas inside the city, but there were areas where the level of decline improved during the same period. In the future, such research is expected to help establish countermeasures for urban regeneration and development policies by classifying regions in large cities according to the degree of decline and identifying regions with seriousness.