A Study on Speed of Housing Supply by Project Type: Focused on Comparing Land Readjustment and Housing Site Preparation Projects of Seoul, Republic of Korea

초록

Housing project should be designed carefully because each type has distinct promises and pitfalls. It is important to examine the experiences of housing projects to reveal its characteristics that policymakers could refer to. Seoul Metropolitan City, Republic of Korea, merits investigation not only because it once went through a developing stage, but also because it experienced various types of housing projects simultaneously. Against this backdrop, this study examines the Land Readjustment and Housing Site Preparation projects in Seoul Metropolitan City, Republic of Korea, using quantitative and statistic approaches. An extended Cox model is employed to investigate the difference in speed of housing supply between the two projects, based on the housing data that is restored for the analysis. The results demonstrate that while the Housing Site Project contributed to supplying a small number of housings relatively promptly, the Land Readjustment Project contributed to a large number of housings in a relatively delayed time. This implies that multiple types of housing projects could be implemented simultaneously to complement each other’s strengths and weaknesses.

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