오피스텔 매매가격 결정요인에 관한 실증연구

An Empirical Study on the Decision Factors of the Sale Price of Officetel

This study made an empirical analysis on the decision factors of the sale price of officetel located in downtown area in Seoul, Gangnam, Mapo, and Yeouido from December 2002 to February 2015 using vector auto regression(VAR). A proxy variable of economic growth was set to economically active population, interest rate to CD interest rate, and rent was set to regional annual returns of rent. As a result of the analysis, it was identified that there is difference by region but annual rent returns of officetel makes positive effect on the sale price of officetel, and it was verified that the sale price of officetel makes consistent positive effect on the annual rent returns. It was identified that the CD interest rate makes slightly positive response to the sale price of officetel, and economically active population makes positive effect on the sale price of officetel. As there is great possibility for officetel to be used as residence due to the rapid increase of single-member households and two-member households, the government authorities recognized officetel as housing that there is a need to monitor the rent and sale price constantly as the housing market.