Analysis of Seoul Apartment Prices during Population Decline Era
Name
Cho_mhcho21_msred_cre_2024_Thesis.pdf
Description
Thesis PDF
Size
13.18 MB
Format
Adobe PDF
Checksum (MD5)
33a21a303c25a7c8edf204b13ce07def
Author(s)
Cho, Moohyun
Advisor(s)
Sant'Anna, Vinicios
Date Issued
September 2024
Publisher
Massachusetts Institute of Technology
Abstract
Since the early 2020s, South Korea has faced a population decrease due to the lowest birth rates globally, but the apartment prices in capital regions covering Seoul, capital city of South Korea and Gyeonggi-do, have ironically shown a consistent upward trend. This thesis explores the persistent rise in apartment prices despite diminishing population in Seoul, providing insights into the economic and social factors affecting this trend. Through an analysis of the characteristics of Seoul apartments, including the unique Jeonse system, and the impacts of population trends by region, this research demonstrates the broader implications of single person household trends and aging population demographics. Furthermore, comparative case studies from Japan and France supports the relationship between aging populations and housing markets. By applying various indices related to apartment prices, this study demonstrates the correlations between apartment prices and demographic changes, consequently exploring the potential future scenarios for the housing market in Seoul.
MIT Department
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.
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