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홍콩은 집값이 왜 비싼가? : 홍콩 주택시장의 구조와 특성

Why are houses so expensive in Hong Kong? : The structure and characteristics of the Hong Kong housing market

김수현
서울연구원 (The Seoul Institute)|2020.12|서울도시연구 (Seoul Studies)|제21권 제4호|pp. 109-125|DOI 10.23129/seouls.21.4.202012.109

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키워드

local tax exemption and reductionintergovernmental fiscal relationshipsocial welfare programs주택의 금융화동아시아 주택체제홍콩 주택시장홍콩 토지제도
주제분류국제/지역개발

초록

최근 홍콩 주택시장은 계속되는 가격상승과 높은 주거비, 낮은 주거수준으로 잘 알려져 있다. 일반적으로 이 같은 홍콩 주택시장 상황은 제한된 토지, 세계적인 금융 중심지에다 막대한 중국의 자본유입, 그리고 중화권 특유의 부동산에 대한 집착 등이 영향을 끼쳤다고 할 수 있다. 그러나 주택연구 차원에서는 보다 체계적인 접근이 필요하다. 이 연구는 홍콩 주택시장과 주택정책을 종합적으로 이해하기 위해, 관련 조사, 연구들을 전반적으로 검토·정리(literature review)했다. 동아시아 주택체제론, 최근 학계에서 관심을 끌고 있는 주택의 금융(상품)화(financialization of housing)론 등을 살펴보았고, 홍콩의 특수한 조건을 이해하기 위해 소규모 개방형 경제와 유동성 문제, 또 특유의 토지공급 시스템 등도 검토했다. 이와 함께 홍콩 사례가 우리나라에 주는 시사점을 제시했다.

Abstract

The recent Hong Kong housing market is well known for its soaring prices, high housing costs, and low housing conditions. This situation in Hong Kong's housing market is generally regarded as affected by limited land, massive direct investment from mainland China in the global financial center, and an obsession with real estate unique to Chinese culture. However, in terms of housing research, a more systematic approach is required. This study reviews all possible surveys and studies for a comprehensive understanding of Hong Kong housing market and housing policy. To this end, the theory of the East Asian housing system and the theory of financialization of housing were reviewed. In addition, in order to understand Hong Kong's specific conditions, a small open economy, excess liquidity issues, and a unique land supply system were also reviewed. Finally, the implications for Korea were presented.

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