Factors Contributing to Residential Vacancy and Some Approaches to Management in Gyeonggi Province, Korea

Abstract

With the decrease in the demand for large-scale apartments as a result of an aging society and a decrease in population, there has been an increase in vacant houses due to a supply that exceeds the projected demands. As a method of urban regeneration in rural areas and activation of citizen communities, the utilization of vacant houses has become one of the ways to promote a new lifestyle, active movement for citizen participation, and business model for long-term revitalization. This study aims to uncover and examine the major causes and factors behind the upswing in vacant houses. We investigated the current state of vacant houses, the recent policies concerning them, and the types of vacant houses in Korea's Gyeonggi province. We then categorized and analyzed the causes of houses being vacant, their types, and the methods of utilizing them under different local conditions in order to understand the efficient processes and strategies for their utilization. The results showed that an excess of building construction (especially recent construction permits), the number of recipients of the national basic livelihood scheme, and the number of elderly people showed the strongest correlation with vacant houses. of 22fishing areas, or the outskirts of cities. The number of vacant houses when compared by region is remarkably high in urban regions. This is the result of unsold apartments from oversupply, cancellation of new downtown regions in old city centers, changes in the city's industrial structure, a shift in central administration, etc.To systematically manage and use the increasing number of vacant houses, a long-term system must be established and supported by a shift in social awareness. In Korea, 20 different regions throughout the country enacted regulations for vacant house management in response to this increase [3]. Vacant house management does not necessarily require massive investment, nor does it need to involve blind demolition; rather, it is about precise management and usage. Objective standards that select and govern demolition, management, and usage-instead of blind demolition-must be administratively established at a provincial level in such a way that regional attributes are enhanced for each type of vacant house and can be used as regional assets.This study examines the cause of vacant houses and their usage plans in Gyeonggi Province in Korea by looking at actual cases steadily arising from population decrease and an aging society. We will also deduce political implications and practical measures by analyzing the supporting details and related subjects. We will subsequently find ways to use the increasing number of vacant houses through strategies that create spaces for the local community, which would enable the continual growth and independence of the region. Furthermore, we will present a detailed methodology that validates regional resources.

Different Factors Affecting Vacant Housing According to Regional Characteristics in South Korea

“…Such negative impacts caused by housing vacancy could spread to surrounding areas leading to further housing abandonment and regional decline [11][12][13]. In recent years, with social and demographic changes such as low fertility rate and rapid aging, this phenomenon is being exacerbated and increasingly recognized as a significant urban issue in many countries [14].…”

“…The ratio of housing supply to households, housing or land price and housing type can be categorized under housing market factors [14,24,25]. According to the principle of supply and demand, excessive housing supply causes vacant housing.…”

Between Abuja and Lagos: Insights of Price and Value in Residential Real Estate

“…But in 2011-2015 they were more pronounced in Abuja at a time when its prices were far higher than Lagos'. Residential or household vacancies exist when completed property available for occupation is either unoccupied or unsold for one reason or another over a length of time which may differ from country to country as the vacancy phenomenon is observable in different parts of the world (Nam et al, 2016). However, if the percentage or extent of vacancies is unusually high, they are considered to be a disadvantage.…”

“…Where incomes are low and urban growth rapid, as experienced in developing countries, vacancies are linked with an inadequacy of dwellings and affordability issues. Research on South Korea (Nam et al, 2016) finds that vacancies as symptoms of regional issues consequent upon urban development may also arise from reasons such as rapid and excessive supply, an ageing population, the growth of slums, migration or city shrinkage. These situations may lead to more houses being unoccupied.…”

Sustainability for Shrinking Cities

“…The differences in how residential landscapes are managed in occupied lots across regions may indicate a potential for differences in how vacant land is managed as well. Nam et al [50] looks at housing vacancy throughout Korea and examines in-depth the correlated drivers in a single province. The authors found an excess of construction activity has led to a large number of apartment vacancies.…”