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• 영문명: A Study on Determination of Apartment Price and Net Gain Price by Hedonic Model
• 발행기관: 한국부동산학회
• 저자명: 천인호(Cheon In Ho)
• 간행물 정보: 『부동산학보』不動産學報 第32輯, 296~310쪽, 전체 15쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2008.02.28

영문 초록

  1. CONTENTS
  (1) RESEARCH OBJECTIVES
  In Korea real estate becomes a useful asset for investment. Investment is to obtain net gain of the transaction. Net gain of the transaction is the price difference between sale and purchase. In order for an apartment to be considered as investment target, the net gain should be high. Such a net gain in the transaction may be determined by various characteristics of the houses. Until now, transaction price is used as dependent variable in the studies on price determination principle of houses. But this study is to study the principles determining the net gain of the house transaction.
  (2) RESEARCH METHOD
  empirical analysis : Hedonic Model, Liner model, Semi-logarithm model, Inversed semi-Iogarithm model, Double logarithm model
  (3) RESEARCH RESULTS
  In Busan. 5,570 houses were discretionarily selected as sample and various functional forms including linear model, semi-logarithm model, inversed semi-logarithm model and double logarithm model were applied to estimate the model of transaction price and the model of net gain of transaction. Of the functional forms estimated, the best model was determined to be double-logarithm model by AIC and SC standard.
  2. RESULTS
  In case of the model of net transaction gain, the independent variables which were estimated to have a positive effect on the price are Door location, direction to the south, fine view, apartment brand, parking capacity, number of years since construction, number of households, education and regional dummy variable. The independent variables which were estimated to have a negative effect on the price are size, noise, apartment accommodating commercial areas, elementary school, subway station, large-scale discount store and distance to city centre.
  The size variable showed a positive sign in the transaction price model, whereas it became negative in the net gain model. The sign of dummy variable which indicates the apartment accommodating commercial areas was positive in the transaction price model, but it showed a negative sign in the net gain model. The distance to the city centre had a positive effect on the transaction price, but it had a negative effect on the net transaction gain.

목차

ABSTRACT
Ⅰ. 서론
Ⅱ. 선행연구의 검토
Ⅲ. 변수의 선정
Ⅳ. 실증분석과 결과
Ⅴ. 결론
參考文獻

키워드

apartment price house price hedonic model net gain price