This study examines the factors of residential location choice by considering the characteristics of the
Korean housing market. From various factors of the residential location choice of a household, this study
focuses on the effect of opportunities to engage in other activities, represented by accessibility, and the
variety of housing tenure types—i.e., owner-occupied, Chonsei, and monthly rent—and the change of each
type’s share of the market. The results of this empirical study indicate that households will most often
choose to live in districts with more accessibility (a representative variable of demand-driven market),
more permitted housing floor space (that of supply-driven one), higher rents, and lower housing prices
in the Seoul Metropolitan Area (SMA). That is to say, the rapidly changing Korean housing market indicates
a transition phase from a supply-driven to a demand-driven one. The significance of the variables
and their effects were different for each housing tenure type. This means that the tenure type choice of a
household is influenced by the level of income and assets. The results of this study are significant in
understanding the characteristics of residential location choices of Korea and the countries in the transition
as well.