Housing Submarkets in the City of Seoul and the Degree of Spatial Disparities in House Prices and Rent Levels across Seoul, 1988-2000
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This research focuses on the spatial segmentation of housing markets in Seoul, and the analysis of changes in house prices and rent (chonsei) levels between 1988 and 2000 at the intra-urban scale. In so doing, this paper attempts to discover both the spatiality and temporality of housing submarkets in Seoul and examine the configuration of spatial housing submarkets. Attention to the changes in house prices and rent levels of each spatial housing submarket in Seoul can provide a vantage point to analyze how real estate wealth was unequally (re)distributed. In particular, in order to link the economic restructuring at the national scale with the changes in housing submarkets at the local scale, this research explores how the financial crisis in 1997 in Korea influenced housing submarkets in Seoul. The contrasting spatial variations in the degree of vulnerability to the financial crisis differently redistributed real estate wealth at the intra-urban scale. The Theil index analysis demonstrates that the degree of spatial inequalities in house prices and rent levels within Seoul increased between 1988 and 2000, and was reinforced by the financial crisis.
Abstract
This research focuses on the spatial segmentation of housing markets in Seoul, and the analysis of changes in house prices and rent (chonsei) levels between 1988 and 2000 at the intra-urban scale. In so doing, this paper attempts to discover both the spatiality and temporality of housing submarkets in Seoul and examine the configuration of spatial housing submarkets. Attention to the changes in house prices and rent levels of each spatial housing submarket in Seoul can provide a vantage point to analyze how real estate wealth was unequally (re)distributed. In particular, in order to link the economic restructuring at the national scale with the changes in housing submarkets at the local scale, this research explores how the financial crisis in 1997 in Korea influenced housing submarkets in Seoul. The contrasting spatial variations in the degree of vulnerability to the financial crisis differently redistributed real estate wealth at the intra-urban scale. The Theil index analysis demonstrates that the degree of spatial inequalities in house prices and rent levels within Seoul increased between 1988 and 2000, and was reinforced by the financial crisis.
참고문헌 (30)
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