Demand for Rental Housing in Korea with Some Estimation Issues
Publication: Journal of Urban Planning and Development
Volume 121, Issue 2
Abstract
The purpose of this study is to estimate the determinants of rental-housing demand for three types of cities in Korea. The study focuses on the statistical estimation issues encountered in calibrating rental-housing demand: selectivity bias, estimation of hedonic prices, application of the permanent income hypothesis, and functional forms of rental housing demand. The procedure for the estimation of the demand function consists of a logit and ordinary least square to address the first three issues. These estimated values are then used as explanatory variables for the final housing-demand function in a two-step procedure. It is shown that these procedures are both practical and suitable for an analysis of the Korean rental housing market.
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Information & Authors
Information
Published In
Journal of Urban Planning and Development
Volume 121 • Issue 2 • June 1995
Pages: 57 - 73
Copyright
Copyright © 1995 American Society of Civil Engineers.
History
Published online: Jun 1, 1995
Published in print: Jun 1995
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