English III

Housing Tenure Type


Home ownership types include owned, exclusive lease, security rent, non-security rent, prepaid rent, and free rent. The "owned" type indicates a practical ownership of a house regardless of legal ownership. For example, a house with a mortgage is considered "owned" by the resident even if legal ownership is with a bank or a mortgage company. The exclusive lease type, a.k.a. "Chonse" requires a deposit of a lump-sum amount up front, but there is no monthly rent. The security rent type has a deposit of an upfront se- curity amount and monthly rent is also paid. The non-security rent type has no security deposit up front but rent is paid monthly. The

prepaid rent type has no security deposit, but a lump sum for multi- ple months’ rent is prepaid, and monthly rents are deducted from the lump sum. The free rent type is rent-free and is applicable to cases such as government of cial residences, company housing, or free boarding at a relative’s house or other private residence.

The home ownership type trends show that owned homes com- prises the largest proportion; owned homes are increasing in overall numbers, but decreasing in proportion. The proportion of owned homes was 84% in 1984, and decreased to 54% in 2014. The trends show increasing proportions of exclusive lease and security rent

homes. In 2014, security rent homes surpassed exclusive lease homes.

The 2010 home ownership statistics show that owned homes ac- counted for the largest proportion (54.2%), followed by exclusive lease homes (21.7%) and security rent homes (18.2%). The home ownership types are also closely related to house types. Apartments account for the highest proportion of the owned home category. However, for exclusive lease homes and security rent homes, the proportion of detached houses is similar to or slightly higher than that of apartment style housing.