신규주택시장의 가격상승 발생원인 분석

An Empirical Analysis of rising in New Residence Price - A Case Study on Seoul Apartment

This study analyzes differentiating factors between the pre-sale price and equilibrium price observed at the move-in time in the apartment condominium market in Seoul. Regression model is used to estimate effects of various independent variables. The independent variables used in this analysis are market size, interest rate, bidding rate, risk variables etc. According to the results of this analysis under the prior housing installment sale system, new housing price is rising because new housing consumers have to bear various market risks during construction period. Also, this study analyzes the casual relationship between new housing price and old housing price using Granger Causality Test. The results show that new housing price is affected by old housing price, but that doesn't affect old housing price. To stabilize the housing market, old housing market policy should be considered ahead of new housing market policy.