Determinants of residential duration for the elderly: The effectiveness of universal design in housing

In the rising trend of population aging, housing issue of the older population is an important factor for stable retirement design. In particular, aging in place (AIP) is a critical issue regarding their housing. This study empirically analyzes the determinants of residential duration that are directly related to AIP. This study focuses on the effect of universal design in housing on residential duration. The regression models using the 2020 Korean Housing Survey data found the following. In the case of small-scale renovation, such as removing stairs and installing safety handles, residential duration showed a negative (−) trend. Presumably, after retirement, the elderly move to a house with a basic universal design through housing consumption. However, in the case of medium-scale renovation (installing a kitchen workbench) and large-scale renovation (the wheelchair doorway of the house and installation of an emergency bell in the house), residential duration showed a positive (+) trend. AIP is expected to be attempted through home modifications in the place where the elderly live without residential mobility. This study presents policy implications for improving housing stability for the elderly through AIP.