Journal of the Korean Housing Association ISSN:2234-3571(Print) 2234-2257(Online) 한국주거학회논문집

The purpose of this study is to devise alternative models for public housing to meet middle and low-income households’ demands for home-ownership. Based on the need to transform public housing for sale as an intermediate tenure, this study tried to derive alternative models that can increase the availability of consumers. First, the availability of consumers was defined as a set of affordability, profitability, and sustainability, and based on this, issues about existing public housing policy and criteria for alternative models were drawn. As a result, the profit-sharing model, the land lease model I, and the land lease model II were presented as alternative models. According to simulation analysis, it was found that the alternative model can further increase the availability of consumers compared to private housing or existing public housing. In particular, the profit-sharing model had the advantage of being accessible even with low household income, and the land lease model had the advantage of a low initial price. And the land lease model II had the advantage of maintaining affordability even during the next sale, similar to the profit-sharing model, Accordingly, this study suggested that different alternative models could be selectively used depending on the situation of the public housing provider.