The Changes of the Housing Demand by Aging

The aging population in Korea is very quickly increasing, which is unprecedented in human history. In order to know the impact of aging on the housing demand, therefore, we analyze the micro data of the Korean census. Focusing on the population aging, the results are the following: First, the homeownership rate by elderly households decreased from 78.1% in 1995 to 74.8% in 2010. Second, the living rate in multiple household, such as an apartment, increased. Moreover, the rate of elderly households under minimum housing standards rapidly decreased from 64.8% in 1995 to 15.3% in 2010.