Special Report

Special Report is an English digest of KRIHS research reports, published to provide information about Korea`s key urban and regional issues to interested scholars and policy makers across the world. It highlights the outstanding research studies completed by the research fellows of KRIHS.

Special Report (Vol. 39)

  • 2018-04-18
  • Lee Eunmi /

Special Report Vol. 39 (2017)

 

 

Housing Support for Young Generation in Korea Responding to Socioeconomic Changes

 

Chapter I. Introduction

 

Chapter II. Changing Environment for Housing Policy

1. The Development of Housing Policy

2. Changing Household Structures: Sharp Rise in Single-person Households, Sharp Dip in Average Household Size

3. Late Marriage, Lifelong Singlehood, Low Birth Rate, and Aging

4. Need to Prepare for the Future

 

Chapter III. Residential Conditions for Young Households and the Severity of the Housing Cost Burden

1. Instability to Entering the Housing Market

2. Limited Accessibility to Public Fund and Increased Reliance on Parents

3. Issues in the Housing Finding, Leasing, and Residing and Subsequent Effects

4. Vulnerable Housing Condition

5. Threat of Housing Cost Burden to Expand Working Poor

 

Chapter IV. Policy Measures to Support Young Generation

1. Central Government Policy toward Housing Support for Young Generation

2. Local Government Policy toward Housing Support for the Young Generation

 

Chapter V. Future Directions of Housing Support for Young Generation

 

 1. Basic Principles of Support

2. Policy Measures for Housing Support for the Young Generation

Summary

 

     Young Single Adults in Korea recently have faced extended transitional period due to longer education, higher housing price, and gloomy outlook of job market situation. During last three decades, one-person households have emerged from the least popular household type to the most prevalent one, which leads to huge impact on housing demand and policy. However, due to the severe housing shortage, housing policy in Korea has been focused on the massive production of new apartments, support for the households with dependents, and owner-occupation during last several decades. As a result, single person households and young people have hardly regarded as the priority target group to be considered and rather excluded from the policy consideration, even though it is not intended to. Moreover, housing price is not affordable for young-single and private rental market requires higher deposit and/or higher monthly rent for young generation including college students, newly graduate, and newly-weds.

      This research is to investigate the housing conditions of young-single in Korea including housing tenure, affordability, rent burden, living conditions, and their housing policy needs. In addition, questionnaire survey results are incorporated to explore their needs and difficulties in the process of searching, contracting, residing in the private rental market. Finally, the author investigates the question on how the current housing situation has impact on the future life course decision such as seeing someone, getting marriage, having and raising a child, and possessing homeownership.

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