제주특별자치도 주택시장 변동에 미치는 영향 요인 분석

An Investigation of the Factors Affecting Housing Market in Jeju Island, South Korea

Recent studies have investigated the different housing market fluctuations across heterogeneous local housing markets. However, little is known about factors associated with housing price fluctuations for segmented markets in the Jeju Island area, Korea. In this study, the housing market in Jeju is categorized into relatively stable and unstable areas based on sales and rental price fluctuations. We used PLS (Partial Least Squares or Projection to Latent Structure) regression to estimate the associations between neighborhood factors and sales and rental price fluctuations between 2015 and 2017. The results showed that the increases in land price, housing and land transactions, and the number of foreign buyers were important factors fluctuated sales and rental prices in Jeju housing market.