This file photo, taken June 21, 2022, shows apartment buildings in Seoul. (Yonhap)
SEOUL, July 29 (Korea Bizwire) — Increases in the price of housing have a negative impact on the rate of marriage and childbirth, a report showed Thursday.
The Korea Institute of Public Finance conducted a survey on employees at public agencies, which showed that a 100 percent rise in housing prices resulted in 0.1 to 0.3 fewer births per person over an eight-year span.
Those who didn’t own homes gave birth to 0.15 to 0.45 fewer people.
Soaring housing prices reduced the birthrate of each household, particularly those who didn’t own a home.
Those who did not own homes last year were 4.0 to 5.7 percent less likely to get married, supposing that housing prices increased by 100 percent between 2013 and 2019.
The institute said that high housing prices significantly undermine marriage and childbirth.
The institute also said that sudden fluctuations in housing prices and the price of deposit-based rent may not affect the rate of marriage or childbirth in the short term, but they may accumulate to have a long-term impact.
H. M. Kang (hmkang@koreabizwire.com)
