This study sets out to analyze the cases of urban housing for the elderly-what we call ‘silver housing’ in Asian countries - that were recently developed and marketed to the senior citizens in the upper and middle class. Several methodologies are applied to achieve these study goals. First, theoretical study was conducted through literature review. The cases of the housing for the elderly in the U.S., Japan, and Europe are also examined. Second, a case study is carried out by visiting the cases of Korea's housing for the elderly and gathering data from April to October 2007. The criteria of choosing the housing for the elderly for the study includes 180 households or more that were sold around October 2006 and 70% of sales and moving-in rates. Four cases are selected and analyzed in terms of location, building type, cost, a running system, spatial organization, facilities, and services. Also, the legal and institutional problems with the housing for the elderly that are currently marketed and operated are also identified. The investigation and analysis have led to the following results. First, seen from the perspective of residence and service, the urban nursing homes analyzed in the study turn out to provide high-grade residential facilities by arranging the living space efficiently and using high quality materials. However, their extremely expensive selling prices and monthly management fees are problematic, being attributed to the excessively luxurious mammoth facilities and reckless emulations of foreign cases. Secondly, the legal and institutional problems with the urban nursing homes are analyzed to suggest four directions in their development. 1) As for directions in law and policy, improvements are suggested with regard to the regulations of the time to apply for a facility permit at a senior citizen’s paid welfare housing,the government policies, and the capital adequacy ratio of the construction companies. 2) As for directions in tax and financial supports, taxation regulations and financial support for the elderly should be changed. 3) As for directions in facility planning, improvements are suggested for the planning of residential and public space as well as the location conditions. 4) As for directions in facility service, suggestions are made in regard to medical service providers and leisure activities programs.