Population Aging and Housing Space Needs in the Seoul Metropolitan Region

Simon Choi, Southern California Association of Governments
Seong-Kyu Ha, Chung-Ang University

The most significant demographic characteristic of the recent Korea population is aging. With world lowest birth rates and very limited international net immigration, Korea rapidly develops into an aging society. The purpose of this study is to estimate the future housing size demand of the Seoul Metropolitan Region in Korea, and to discuss housing policy responses to the low income and middle/large sized rental housing needs. The study uses a two step process of projecting middle/large sized rental housing needs. The first step is to develop total housing needs using the household headship rate method with assumptions of replacements needs and vacancy needs. The second step is to decompose projected housing units into different sized housing unit needs by tenure using household-housing transition probability. The study will also discuss housing policies to properly respond to the low income and large sized rental housing needs.