A Study on the Factors Influencing Vacant Houses in Korea

Abstract

Recently, the number of vacant houses in Korea is increasing by 100,000 per year, and the number of houses that have been vacant for more than a year is approximately 390,000.  Vacant houses not only cause urban environments but also cause various social problems.Vacant houses cause various problems such as crime, fire, and bad smells.In particular, in Korea, the problem of vacant houses in small and medium-sized local cities is a big problem. 

This study analyzed the factors affecting vacant houses based on the physical characteristics of individual houses, housing prices, and regional characteristics. As a result, all variables used in the analysis were found to have significant influence. However, the influence was greater in variables representing regional characteristics.  In particular, the ratio of regular workers in companies and businesses to the local population had a great influence, and it was found that the fewer regular workers there are, the more vacant houses there are.

This shows that vacant houses are occurring in places where there are not many jobs in the area. Looking at the results of this study, it is predicted that vacant houses can be solved only when local jobs and industries are revitalized.