Housing Finance Index K-HAI K-HOI Overall Average Regional Comparison By Housing Size About K-HAI Detail Housing Affordability Index > Whole Average Time Housing Affordability Index Housing Price*(KRW 10,000) Loan Interest Rate**(%) Household Income***(KRW 10,000) Index Change from Previous Term Price Change from Previous Term Interest Change from Previous Term Income Change from Previous Term * Housing Price : Median price of market prices by the Korea Real Estate Board ** Loan Interest Rate : Mortgage loan interest rates for new loans from deposit banks connected to the Bank of Korea *** Household Income : Median household income calculated using the data for urban household (2 members or more) income (“Household Trend Survey” by Statistics Korea) and the data for regional conversion rate of monthly income earned by workers in companies with 5 or more employees (“Monthly Labor Statistics” by the Ministry of Employment and Labor) [Close] Year search 2017 Quarter search Quarter 1 Detail Housing Affordability Index > Regional Comparison Regional Index Change from Previous Term Year search 2017 Detail Housing Affordability Index > By Housing Size Time 60㎡ Below 60 ~ 85㎡ Below 85 ~ 135㎡ Below 135㎡ Excess K-HAI(Korea-Housing Affordability Index) "Housing Affordability Index" : An index indicating the loan repayment for median income families purchasing a median-priced home with a standard loan. Key Indices in Housing Loan Repayment Burden The lower Korea Housing Affordability Index (K-HAI), the larger housing affordability. Purpose : To continuously identify the ability of median income families in Korea to afford a home to use the data for establishing national housing and housing finance policies. Definition : The loan repayment burden for a median income family purchasing a median-priced home with a standard loan. Formula : K-HAI = Available Income for Loan Repayment / Median Household Income X 100 * Housing Price : Median price in the Korea Appraisal Board housing prices ** Loan Interest Rate : Mortgage loan interest rates for new loans from deposit banks connected to the Bank of Korea *** Household Income : Median household income calculated using the data for urban household (2 members or more) income (“Household Trend Survey” by Statistics Korea) and the data for regional conversion rate of monthly income earned by workers in companies with 5 or more employees (“Monthly Labor Statistics” by the Ministry of Employment and Labor) Meaning of Index Numbers : A K-HAI of 90.1 in Seoul indicates that when a median income household in the city buys a median-priced home, it spends 90.1% of adequate amount (approximately 25% of the household income) to repay its housing mortgage. Higher numbers indicate higher burdens in purchasing a home. Overall Average Regional Comparison About K-HOI Detail Housing Opportunity Index > Overall Average Year Overall Seoul Busan Daegu Incheon Gwangju Daejeon Ulsan Gyeonggi Gangwon Chungbuk Chungnam Jeonbuk Jeonnam Gyeongbuk Gyeongnam Jeju Year search 2017 Detail Housing Opportunity Index > Regional Comparison Year Overall Seoul Busan Daegu Incheon Gwangju Daejeon Ulsan Gyeonggi Gangwon Chungbuk Chungnam Jeonbuk Jeonnam Gyeongbuk Gyeongnam Jeju K-HOI(Korea-Housing Opportunity Index) "Korea Housing Opportunity Index" : Percentage of all homes in Korea that is considered to be affordable, indicating the quantity of affordable homes. Key Indices of Housing Finance Opportunity Korea Housing Opportunity Index (K-HOI) is a measure of housing affordability, estimated as the percentage of homes affordable for a median income family. A High K-HOI indicates a larger number of homes affordable for a median income family. The K-HOI of 100 means that a median income family can afford any house in the area. Background : K-HOI is a Korean adaptation of Housing Opportunity Index (HOI) currently used in the U.S. Market. Definition : The number of houses considered affordable median income families divided by the number of all houses (including apartments). Formula : K-HOI = Number of Affordable Homes * (n) / Number of All Homes (N) X 100 Meaning of Index Numbers : A K-HOI of 27.4 in Seoul means that a family earning the median income in the city can afford 27.4% of all homes in Seoul using its own capital and loans. A lower number indicates a higher burden of affording housing in the area, while a higher number means that it is easier to purchase a home. K-HAI · K-HOI Comparison Chart K-HAI · K-HOI Comparison Chart Category K-HAI K-HOI Key Variables Loan Interest Rate/Household Income/Housing Price Same as Left, Housing Inventory, Household Net Asset Ease of Home Purchase Easier to purchase a home when the index is smaller (lower burden) Easier to purchase a home when the index is smaller (lower burden) Announce Cycle Quarter (of a year) During the course of a year
