Urban regeneration is the main topic in urban planning in most recent. Urban regeneration, urban revitalization, urban renewal, gentrification, and etc. many terms are confused widely.
The aim of this study is to evaluate the progress of gentrification by index of population groups, housing and land groups and etc groups, also to arrange urban regeneration conditions by redevelopment projects and newtown projects in Busan. And this study empirically analyzes the evaluations and determinants on residential resettlements in accordance with urban regeneration by variables of owner's characteristics, land and building characteristics, housing complex characteristics, and location characteristics.
First, the major findings on actual conditions for gentrification and urban regeneration in Busan are as follows;
It is found that Busan's Central Business Districts didn't show the outstanding evidences relation to gentrification yet. Only Busanjin-gu do not undergo severe decline of downtown in Central Business Districts, Jung-gu and Dong-gu show severe decline of downtown in the aspect of durable diminution of population and rapid increase of old age more than 65. To make things worse, they may maintain poor environment for some time because of low ratio of housing ownership and few amount of new housing supply.
On the contrary, subcenter of city's gentrification is better conditions. Population's concentration for the Haeundae-gu and Dongnae-gu in class of excellent scholarship and people in the upper income brackets is connected to residential preference of Dongbusan Circles. They show rising trend in land price not only residential districts, but also commerce districts. In particular, Haeundae area is growing up subcenter of city where threaten Central Business Districts in accordance with increasing the function of commerce and business. Moreover housing redevelopment projects are proceeding rapidly than other areas, owing to high ratio of residence' resettlements in these areas.
Second, the major finding on determinants on residential resettlements in accordance with urban regeneration are as follows;
A binary logit model for determinants on residential resettlements in accordance with urban regeneration are composed of owner's characteristics, land and building characteristics, housing complex characteristics, and location characteristics. The significant variables in relation to owner's characteristics are owner's age, owner's place of residence, the possession period against property and investment intention. This result means that redevelopment project focus on apartment conducts younger people's resettlement instead of elder peopler's secession. Besides household's economic strength is important factor owing to new apartment's expensive price, but it brings about collapsing existing community by affordable households who are investor expecting redevelopment.
As a result of logit model for residential resettlements, it shows that the variables in relation to land and building characteristics are the land classification, the use of building, the size of land or building, the permission of building and the appraisal price on land and building. This result means that actual customer's investment connect to resettlement after redevelopment project.
The other side, the housing complex variables consist of the brand of construction company, the ratio of large size housing and floor area ratio shows that improvable conditions for housing value are important factor to induce residence's resettlement. Contrary to our expectation, discount for members of association give negative impression to residence on success possibility of project. The location variables show that Dongbusan has higher probability, the reverse Jungbusan has lower probability in residential resettlement likewise residential preference.
The last, it is found that Tobit model is more appropriate to evaluate expense for residential resettlements by reason of model's bias. Expesnce for residential resettlement is the difference of new housing lotting price and existing housing appraisal price, so we don't measure expense if they didn't resettlement. This brings about model's bias.
As a result of Tobit model for expense for residential resettlement in accordance with urban regeneration, it shows that expense for residential resettlement decrease in case of elder owner, another address, and larger size of land or building. If the building's use is a detached housing or new apartment size is bigger, it is natural the expense for residential resettlement increase. And if the ratio of rental apartment increase or the ratio of big size housing decrease, residence's expense for residential resettlement will reduce. Also housing submarket price is important factor to determine residential resettlement.
This study deals with 7.396 datum to analyze of evaluations and determinants on residential resettlements in accordance with urban regeneration empirically. But this study has limit in use of restricted variables to analyze. More developed study will be requested in the future.