The Impact of Real Estate Factors on Voter Turnout: Local Elections in Korea

Abstract

This study investigates the factors that affect voter turnout in local elections in Korea by using a panel fixed effects model. Cross-sectional analyses for each election compare the influence of these factors over time. In the panel fixed effects model, the coefficients for non-urban and urban areas point in the opposite directions. From an urban perspective, owner-occupied housing rates positively affect voter turnout, while apartment resident rates negatively affect it. Thus, increasing apartment supply without a rise in owner-occupied status can reduce voter turnout. Among the social factors, an aging population positively affects turnout, while an increase in foreigners has a negative effect. With urbanization continuing globally, promoting housing finance markets and effective housing supply policies to increase owner-occupied housing can enhance housing welfare and democratic development.

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