A Study on Factors Affecting Demand for Housing in Innovation Cities - Focusing on Residential Satisfaction, Settlement Intention and Recommendation Intention among Housing Residents -

Abstract

Our study aimed to draw residential satisfaction factors from those who moved to the largest new innovation city due to office relocation, analyze the effect of such factors on settlement intention as well as recommendation intention, and suggest ways to revitalize innovation cities. In conclusion, we would suggest solutions to boost innovation cities as below. Demographic features showed that women and senior people groups showed higher residential satisfaction, settlement intention and recommendation intention. Large size of houses and more family members led to a high level of both settlement and recommendation intentions. In this regard, innovation cities are deemed family-centered, human-friendly city in compliance with its original objective. However, population inflow is deemed to be emanated from little understanding of advantages and marked features of this innovation city. To this end, the local governments should consider draw up ideas to promote its advantages and encourage people to get first-hand experiences from this city. Second, it was founded that the residents in the innovation city were highly satisfied with living, while their long-term settlement intention and recommendation intention, as an active factor forpromoting demand, were low. Such finding notes one of the primary causes, which is a lack of secondary educational environment coming up according to Korea’s university entrance exam policies. In order to promote population inflow as an innovation city, hosting foreign language high schools and reputable private academy is necessary to form better educational environment where secondary education can be provided. Third, connection with and role of neighboring cities are essential as medium-sized innovation city has limited capacity to provide convenience and culture services for modern life like big cities. It is imperative to reorganize administrative distrcits, integrate them into one and introduce shuttle bus system by expanding public transports to ensure a single living sphere. As shown in the Gwangju-Jeonnam joint innovation city case, introducing luxurious commercial facilities such as department store is a better way to meet demand in the city, while boosting local economy in a way that attracting people from neighboring cities in order to narrow the distance between the innovation city and neighboring cities. In the end, management and sense of community factors in apartment complex had an impact on residential satisfaction. Therefore, it is better to either build professional and integrated management systems to make available and support community activities in apartments or assign the responsibility of management to entities specialized in real estate asset management agency.