| 요약2 |
The purpose of this study is to analyze the influence factors on the trade volume of the apartment market in the Seoul metropolitan area. In this study, differences in the influence factors by housing size were also analyzed. The main analysis results using a dynamic panel model are as follows: First, when the trade volume was subdivided according to the size of housing, the lagged values of the dependant variables were proved to have a positive effect on the trade volume, and were mostly statistically significant. Second, the increase rate of housing price in the last quarter was proved to have a negative effect on the current trade volume, while the increase rate of housing price in this quarter had a positive effect. Third, the net migration and industrial production growth rate were found to have a positive effect on the trade volume, while the price ceiling system, DTI regulation, financial crisis dummy variable, and interest rates were revealed to have a negative effect. In particular, the trade volumes of small/medium-sized housing were proved to be highly affected by and sensitive to the housing price increase rates, and the economic conditions. |