@article{ART002093677},
author={Kim, Ji Hyun and Younyoung Choi},
title={A study on the Impact of Property Consumer Sentiment on Apartment Transaction},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2016},
volume={26},
number={1},
pages={7-17}
TY - JOUR
AU - Kim, Ji Hyun
AU - Younyoung Choi
TI - A study on the Impact of Property Consumer Sentiment on Apartment Transaction
JO - Korea Real Estate Review
PY - 2016
VL - 26
IS - 1
PB - korea real estate research institute
SP - 7
EP - 17
SN - 2092-5395
AB - The purpose of this study investigates the influence of consumer sentiment on apartment transaction through Hierarchical Linear Modeling (HLM). Consumers’ perceived current housing prices and future expectations toward their housing prices were used as a consumer sentiment factor in order to explain the apartment transaction volume. Two-levels HLM was conducted in terms of cities and counties level (1-level) and metropolitan and megalopolis level (2-level). The results showed that 61.4% of apartment transaction volume was explained on 1-level. At the 1-level, the variables of consumers’ current perceived housing prices and future expectations toward their housing prices were significantly negatively associated with the apartment transaction volume. However, consumer’ perceived current housing price had a negative association with apartment transaction volume at the 2-level. In addition, future expectation toward their housing prices and consumer sentiment index had a positive association with apartment transaction volume. Therefore, this study suggests that consumer sentiment variables including consumers’ perceived current housing prices and future expectations are likely to be important factors to explain apartment transaction volume as well as an economic variable such as Consumer Price Index.
KW - consumer sentiment;hierachical linear model (HLM;) regional hierarchy;housing market;trade quantity of apartment
DO -
UR -
ER -
Kim, Ji Hyun and Younyoung Choi. (2016). A study on the Impact of Property Consumer Sentiment on Apartment Transaction. Korea Real Estate Review, 26(1), 7-17.
Kim, Ji Hyun and Younyoung Choi. 2016, "A study on the Impact of Property Consumer Sentiment on Apartment Transaction", Korea Real Estate Review, vol.26, no.1 pp.7-17.
Kim, Ji Hyun, Younyoung Choi "A study on the Impact of Property Consumer Sentiment on Apartment Transaction" Korea Real Estate Review 26.1 pp.7-17 (2016) : 7.
Kim, Ji Hyun, Younyoung Choi. A study on the Impact of Property Consumer Sentiment on Apartment Transaction. 2016; 26(1), 7-17.
Kim, Ji Hyun and Younyoung Choi. "A study on the Impact of Property Consumer Sentiment on Apartment Transaction" Korea Real Estate Review 26, no.1 (2016) : 7-17.
Kim, Ji Hyun; Younyoung Choi. A study on the Impact of Property Consumer Sentiment on Apartment Transaction. Korea Real Estate Review, 26(1), 7-17.
Kim, Ji Hyun; Younyoung Choi. A study on the Impact of Property Consumer Sentiment on Apartment Transaction. Korea Real Estate Review. 2016; 26(1) 7-17.
Kim, Ji Hyun, Younyoung Choi. A study on the Impact of Property Consumer Sentiment on Apartment Transaction. 2016; 26(1), 7-17.
Kim, Ji Hyun and Younyoung Choi. "A study on the Impact of Property Consumer Sentiment on Apartment Transaction" Korea Real Estate Review 26, no.1 (2016) : 7-17.