In-movers' housing choice and gentrification in Seoul

Abstract

The Seoul metropolitan government has focused on the expansion of the housing supply to address housing shortage through housing and urban redevelopment programs. The introduction of urban redevelopment programs has resulted in significant improvements in both the quality and quantity of housing in Seoul. However, urban redevelopment programs have produced gentrification and have contributed to profits for both property owners and developers. It is necessary to identify who is moving into gentrifying neighbourhoods in Seoul and why they engage in gentrification. In order to contribute to a more in-depth analysis, we explore in-movers' socio-economic characteristics and their residential mobility. These questions are analysed using the Korea Housing Survey data. The findings indicate that the majority of in-movers upward homeowners, who are more educated, have a higher income, and are relatively younger. In the Korean urban context, these in-movers can be identified as gentrifiers and key figures in urban and housing regeneration programs.