Housing turnover analysis in developed nations has grown increasingly sophisticated in its 40 years of use. Unfortunately, the use of turnover analysis and vacancy chain research has been far more limited for developing nations. Here we review and critique past efforts and then turn to vacancy chain analysis to examine the housing market in Seoul, emphasizing: 1) the formal market's links to the informal housing sector; 2) tests for evidence of upward housing filtering and downward raiding by the middle and upper- middle classes; and 3) the location of the sequence of vacancies, including partial rental housing. We also discuss the policy implications of using turnover analysis including how emphasizing locational aspects of vacancy chains could be particularly helpful to planners who must contend with the locational spillovers of multiplier effects.
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