주택도시금융연구(Journal of Housing and Urban Finance)

About Journal of Housing and Urban Finance

한국연구재단 등재학술지 주택도시금융연구는 주택도시보증공사가 발간하는 학술지로, 주택·도시·금융 분야 연구 활성화와 정책 아이디어 개발을 목적으로 2016년 창간하여 연 2회(6월 30일/12월 31일) 발간하고 있습니다. 연구논문 투고자는 주택도시보증공사의 연구윤리기준을 준수해야 하고, 타 학술지에 게재 혹은 출판된 적이 없는 논문이어야 하며, 타 학술지에 투고하여 심사 중인 논문은 미게재 확정 후 본 학술지에 투고할 수 있습니다. 주택도시금융연구에 게재된 연구논문 투고자에게는 소정의 연구지원금이 지급됩니다.
About Korea Housing & Urban Guarantee Corporation

주택도시보증공사는 주거복지 증진과 도시재생활성화를 지원하기 위한 각종 보증업무 및 정책사업을 수행합니다. 주택도시기금의 효율적인 운용 및 관리를 통해 경영혁신을 이루고 한 발 앞선 주거정책시행으로 서민주거안정을 이끌어 나가며, 주택에서 도시까지 국민의 더 나은 삶을 책임지는 전문 공기업입니다. 주택도시보증공사는 주거복지 증진과 도시재생 활성화를 지원하기 위한 각종 보증업무 및 정책사업 수행과 주택도시기금을 효율적으로 운용·관리함으로써 국민의 삶의 질 향상에 이바지하기 위해 설립되었습니다. 지난 30여년간 국내 유일의 주택보증 전문기관으로서 보증공급을 통해 국민 주거안정 실현에 기여하였습니다. 세계적으로 인정받는 분양보증제도를 토대로 주택사업 전 단계에 걸친 보증상품을 운영함으로써 주택사업자의 원활한 사업추진과 주택금융시장의 안정에 기여하고, 정부의 정책목표 달성을 뒷받침하고 있습니다.
Article

Dec 31, 2025

Analyzing the short- and long-term effects of housing supply on jeonse price fluctuations and their spatial spillovers
주택 공급이 전세가격 변동에 미치는 장 · 단기 효과 및 공간적 파급 분석

Jin Choi, Chang Ha Jin
최진, 진창하

J. Hous. Urban Finance 2025;10(2):5-28.
https://doi.org/10.38100/jhuf.2025.10.2.5

This study empirically analyzes the impact of housing demolition and new completions on apartment rental prices across 25 districts in Seoul. To quantify the temporal and scale-dependent effects of supply shocks, panel regression, panel autoregressive distributed lag, and spatial econometric models were employed, allowing for a multidimensional assessment of the relationship between supply and rental prices. The results showed that demolition leads to short-term increases in rental prices, with stronger effects in large-scale cases. By contrast...
Article

Dec 31, 2025

The impact of regional housing price changes on voluntary termination of reverse mortgages: Focusing on age-group differences controlling for mortality risk
지역 주택가격 변화가 주택연금의 자발적 해지에 미치는 영향: 사망 위험 통제를 통한 연령층별 차이를 중심으로

Seong Won Lee
이성원

J. Hous. Urban Finance 2025;10(2):29-44.
https://doi.org/10.38100/jhuf.2025.10.2.29

This study aims to overcome the limitations of previous research by distinguishing between terminations due to death and those due to voluntary choice and by addressing the insufficient reflection of micro-level price changes in regional housing markets. We construct quarterly panel data at the subscriber level, utilizing the complete dataset of reverse mortgage subscribers for apartments up to the end of June 2025 and incorporating sales price indices at the district level. Furthermore, we aim to identify the pure effect of economic factors on...
Article

Dec 31, 2025

The effect of choense deposit defaults on the number of foreclosure auctions: Focusing on the Seoul metropolitan area
전세보증금 채무불이행이 경매건수에 미치는 영향: 수도권을 중심으로

Sung-chan Kim, Joo-han Sung
김성찬, 성주한

J. Hous. Urban Finance 2025;10(2):45-68.
https://doi.org/10.38100/jhuf.2025.10.2.45

The purpose of this study is to empirically identify the impact of jeonse deposit defaults on the number of housing auctions in the Seoul Metropolitan Area (Seoul, Gyeonggi, and Incheon) and to analyze the structure and regional heterogeneity of the transmission of default indicators to the auction market. To this end, we constructed a monthly panel dataset from August 2022 to April 2025 and adopted a fixed-effects model as the baseline specification based on the Hausman test. The results show that the apartment sales price index and apartment ...
Article

Dec 31, 2025

Comparative analysis of mobility intentions among households in public and private rental housing
공공임대주택과 민간임대주택 거주가구의 주거이동 의향 결정요인 비교 분석

Su Sang Kim, Nam Jung Kim
김수상, 김남정

J. Hous. Urban Finance 2025;10(2):69-91.
https://doi.org/10.38100/jhuf.2025.10.2.69

Satisfaction with the residential environment and personal needs influences residential mobility, while factors such as life cycle, economic characteristics, and external environmental changes affect housing choices. Given the distinct occupant characteristics and policy goals of public and private rental housing, a comparative analysis of mobility intentions in these sectors can inform strategies to enhance residential stability. This study used data from the 2022 Ministry of Land, Infrastructure, and Transport Housing Status Survey to examine...
Article

Dec 31, 2025

Constructing a multi-family housing sales price index using machine learning: Focusing on small-area units in Seoul
머신러닝을 활용한 다세대주택 매매가격지수 산정에 관한 연구: 서울시 소지역 단위를 중심으로

Soyoung Lee, Kyung-min Kim
이소영, 김경민

J. Hous. Urban Finance 2025;10(2):93-127.
https://doi.org/10.38100/jhuf.2025.10.2.93

This study highlights the importance of constructing reliable price indices for multi-family housing and empirically examines the feasibility of developing such indices at both citywide and subregional levels within Seoul. Using LightGBM, a tree-based machine learning model well-suited for capturing heterogeneous submarket dynamics, the study estimated monthly transaction prices for individual multi-family units in Seoul from 2006 to 2024, based on publicly disclosed actual transaction data and housing registry records. The final model achieved...

CURRENT ISSUE: Dec 2025, Vol. 10 , No. 2

Article Analyzing the short- and long-term effects of housing supply on jeonse price fluctuations and their spatial spillovers 주택 공급이 전세가격 변동에 미치는 장 · 단기 효과 및 공간적 파급 분석 Jin Choi, Chang Ha Jin 최진, 진창하 J. Hous. Urban Finance 2025;10(2):5-28. https://doi.org/10.38100/jhuf.2025.10.2.5 HTML PDF PubReader	Article The impact of regional housing price changes on voluntary termination of reverse mortgages: Focusing on age-group differences controlling for mortality risk 지역 주택가격 변화가 주택연금의 자발적 해지에 미치는 영향: 사망 위험 통제를 통한 연령층별 차이를 중심으로 Seong Won Lee 이성원 J. Hous. Urban Finance 2025;10(2):29-44. https://doi.org/10.38100/jhuf.2025.10.2.29 HTML PDF PubReader
Article The effect of choense deposit defaults on the number of foreclosure auctions: Focusing on the Seoul metropolitan area 전세보증금 채무불이행이 경매건수에 미치는 영향: 수도권을 중심으로 Sung-chan Kim, Joo-han Sung 김성찬, 성주한 J. Hous. Urban Finance 2025;10(2):45-68. https://doi.org/10.38100/jhuf.2025.10.2.45 HTML PDF PubReader	Article Comparative analysis of mobility intentions among households in public and private rental housing 공공임대주택과 민간임대주택 거주가구의 주거이동 의향 결정요인 비교 분석 Su Sang Kim, Nam Jung Kim 김수상, 김남정 J. Hous. Urban Finance 2025;10(2):69-91. https://doi.org/10.38100/jhuf.2025.10.2.69 HTML PDF PubReader
Article Constructing a multi-family housing sales price index using machine learning: Focusing on small-area units in Seoul 머신러닝을 활용한 다세대주택 매매가격지수 산정에 관한 연구: 서울시 소지역 단위를 중심으로 Soyoung Lee, Kyung-min Kim 이소영, 김경민 J. Hous. Urban Finance 2025;10(2):93-127. https://doi.org/10.38100/jhuf.2025.10.2.93 HTML PDF PubReader

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