Willingness to Pay for Accessible Elderly Housing in Korea

Lee, So Young; Yoo, Sungeun

doi:10.3846/ijspm.2019.11095

Cited by 9 publications

(6 citation statements)

References 22 publications

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“…Economic status also affects older adults’ emotional attitudes toward home modifications, with those who can afford it willing to pay more for home modifications. A study from South Korea found that older respondents were willing to pay a higher price for accessible housing ( S. Y. Lee & Yoo, 2020 ). Another survey of households in Barcelona and Madrid found that older individuals were willing to pay an additional 12.5% for accessible housing on average ( Fernando, 2002 ).…”

Section: Discussionmentioning

confidence: 99%

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How to Influence Behavioral Intention Toward Age-Friendly Home Modifications in Urban Older People Aged 70+

Wang

Zhang

2023

Gerontology and Geriatric Medicine

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Aging in place with a suitable living environment is essential for the health and well-being of older adults. However, the willingness of older people to modify their housing to meet their needs is not strong. Using the Analytic Network Process (ANP) method, the study first explores the weights of factors, such as perceived behavioral control, policies, and market conditions that influence older adults’ behavioral intention. Then, a structural equation modeling (SEM) approach was used to dissect the psychological factors which account for the largest proportion. Using data from 560 people aged 70 or older from Beijing, results suggest that effectiveness perception, cost perception, and subjective norms can influence older people’s behavioral intention directly or indirectly through emotional attitudes. Risk perception can moderate the level of behavioral intention triggered by cost perceptions. This study provides new evidence for the impact of factors and interaction mechanism on older adults’ behavioral intentions toward age-friendly home modifications.

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Section: Discussionmentioning

confidence: 99%

“…A study from South Korea found that older respondents were willing to pay a higher price for accessible housing (S. Y. Lee & Yoo, 2020). Another survey of households in Barcelona and Madrid found that older individuals were willing to pay an additional 12.5% for accessible housing on average (Fernando, 2002).…”

Section: Discussionmentioning

confidence: 99%

How to Influence Behavioral Intention Toward Age-Friendly Home Modifications in Urban Older People Aged 70+

Wang

Zhang

2023

Gerontology and Geriatric Medicine

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“…The study finds that for elders, barriers and conditions for safety in the home are essential and that elders need better, person-centered informed support to adapt housing conditions to their needs. Another South Korean study (16) revealed that barrier-free housing is an important choice for older people and can be adopted by them as an affordable housing option. The value of barrier-free housing can exceed its cost in this regard.…”

Section: Those Moving In Older Age Could Have An Advantage In Barrier...mentioning

confidence: 99%

Mobility restriction and barrier-reduced housing among people aged 65 or older in Germany: Do those who need it live in barrier-reduced residences?

Nowossadeck

Gordo

Alcántara

2023

Front. Public Health

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IntroductionOlder people spend a lot of time at home and in the area near where they live. Housing conditions ensure their ability to participate in social life, especially when they suffer from mobility restrictions. Barrier-free access to the residence and to rooms within the residence is a key condition for their everyday mobility. As a result, this is what we define as minimal criteria for barrier-reduced residences. This article examines the extent to which people aged 65 and over (including people with mobility issues) live in barrier-reduced housing and what factors influence the chance of living in such residences.Data and methodCross-sectional data from the German Ageing Survey (DEAS) 2020/21 (persons aged 65 and over, n = 2,854) were used. The DEAS is a representative cross-sectional and longitudinal survey of the population aged 40 and over in Germany. In our analyses, we used logistic regression models to investigate the probability of living in a barrier-reduced residence. We defined housing as barrier-reduced when the apartment/house and the rooms inside it can be reached without steps or stairs. As explanatory variable, we considered mobility restrictions, defined as limited ability to climb a flight of stairs. In addition, the model includes other individual factors (age, gender, equivalized household income), regional factors (living in East vs. West Germany, in urban vs. rural region) and moving to the current residence after the age of 65.Results and discussionOf all individuals aged 65 or older, 19.3 percent live in a barrier-reduced residence. Also, of mobility-restricted elders, only 21.4 percent have such residences. The logistic regression results show that mobility restrictions are associated with a higher probability of living in a barrier-reduced residence. Compared to the lowest income group, older people in the highest income group are more likely to live in barrier-reduced housing. East Germans and people in urban areas are less likely to live in a barrier-reduced home. The likelihood of barrier-reduced living is higher among seniors who moved into their current residence after age 65. No significant differences were found for age groups and gender. The findings show that not enough seniors have barrier-reduced access to their homes and rooms, even if they suffer from mobility restrictions. Preventing functional restrictions must therefore also include improvements in the residential environment, especially in disadvantaged residential areas.

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“…In both the academic and industry literature, attributes of healthy buildings can be categorized into 2 groups. First and foremost, healthy buildings are measured with industry IEQ attributes, such as indoor air quality (IAQ), ventilation, lighting, view, noise, heat, moisture, dust, pests, and biophilia (Grayson 2019;Allen and Macomber 2020;Simons and Throupe 2005;Benson et al 1998;Benjamin et al 2001;Lee and Yoo 2020;Szczepańska et al 2020;Hamilton et al 2016;Kuehnel and Moeckel 2020;Kim et al 2007). The second category of attributes revolve around design (interior layout), active design, look and feel, amenities, location, etc.…”

Section: Measuring Healthy Building Attributes In Real Estate Marketmentioning

confidence: 99%

“…Some nascent research links one or a few specific features of IEQ to higher rental or asset price premiums and higher willingness to pay (Pivo and Fisher 2011;Simons and Throupe 2005;Benson et al 1998;Hardin and Cheng 2003;Benjamin et al 2001;Lee and Yoo 2020;Szczepańska et al 2020Hamilton et al 2016Kuehnel and Moeckel 2020;Kim et al 2007). However, those empirical studies only focus on one specific IEQ feature at a specific time and in a specific setting, such as indoor air quality, acoustics, light quality, view or safety.…”

Section: Real Estate Value Premiums For Healthy Buildingsmentioning

confidence: 99%

International Real Estate Review

Tan¹,

Zheng²,

Palacios³

et al. 2021

IRER

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Our paper aims to examine the healthy building adoption patterns by first asking two critical questions that are relevant to the market conditions: What are healthy buildings? What is their financial value for tenants and owners? We then synthesize the existing academic and industry literature. We find some early evidence of a real estate price premium for specific indoor environment quality (IEQ) and design features. In terms of health-focused building certification systems (BCSs), no empirical and quantitative research has been done on the financial performance of healthy buildings, except for theoretical models. We then proceed to conduct interviews with executives of 15 real estate corporations across the globe to understand the perspectives of real estate owner operators and their strategies for this emerging market. The interviews results confirm that the scarcity of empirical evidence that links healthy building attributes to financial returns inhibits the adoption of healthy buildings in mainstream designs. Moreover, differences in the adoption patterns of healthy buildings are due to the building ownership structure at the firm level, tenants, end-users and building conditions. The strategies of firms in pursuing a healthy building range from risk mitigation to proactive pursuit of new growth opportunities. Private equity funds and real estate investment trust (REIT) firms tend to focus on risk mitigation, while direct real estate investment firms are more likely to carry out the latter to position themselves as a leader within the real estate industry.

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Willingness to Pay for Accessible Elderly Housing in Korea

Cited by 9 publications

References 22 publications

How to Influence Behavioral Intention Toward Age-Friendly Home Modifications in Urban Older People Aged 70+

How to Influence Behavioral Intention Toward Age-Friendly Home Modifications in Urban Older People Aged 70+

Mobility restriction and barrier-reduced housing among people aged 65 or older in Germany: Do those who need it live in barrier-reduced residences?

International Real Estate Review

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