@article{ART002538983},
author={Lee, Da Young and Lee, Sang Kyeong},
title={Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2019},
volume={29},
number={4},
pages={43-54},
doi={10.35136/krer.29.4.3}
TY - JOUR
AU - Lee, Da Young
AU - Lee, Sang Kyeong
TI - Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent
JO - Korea Real Estate Review
PY - 2019
VL - 29
IS - 4
PB - korea real estate research institute
SP - 43
EP - 54
SN - 2092-5395
AB - The aim of this study is to identify the determinants of transaction volume according to housing rent type using spatial regression models. Housing rent is classified into four types: monthly rent, semi-monthly rent, semi-chonsei and chonsei. The area targeted is Seoul city and data collected for analysis are built up in terms of an administrative unit, dong. The spatial error model turns out to be the best spatial regression model. The result of the analysis is as follows. Monthly rent and semi-monthly rent have similar determinants: the number of single households and foreigner ratio have positive effects but the elderly population ratio, number of housing and employee ratio have negative effects. Chonsei and semi-chonsei have similar determinants: apartment ratio and housing price have positive effects but the number of single households, the elderly population ratio and the number of business have negative effects. In both semi-monthly rent and semi-chonsei, renters pay monthly rent but they have different characteristics. The number of single households has opposite effects. The transaction volume of semi-chonsei in all other regions is significantly lower than in the Southeast region but that of semi-monthly rent is only significant lower in the Southwest region. Consequently, semi-monthly rent is similar to monthly rent, while semi-chonsei is similar to chonsei. This study is meaningful in that it identifies the structural characteristics of housing rent markets by analyzing the determinants of transaction volume according to housing rent type.
KW - chonsei;monthy rent;transaction volumes of chonsei and monthly rent;spatial autocorrelation;spatial error model
DO - 10.35136/krer.29.4.3
ER -
Lee, Da Young and Lee, Sang Kyeong. (2019). Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent. Korea Real Estate Review, 29(4), 43-54.
Lee, Da Young and Lee, Sang Kyeong. 2019, "Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent", Korea Real Estate Review, vol.29, no.4 pp.43-54. Available from: doi:10.35136/krer.29.4.3
Lee, Da Young, Lee, Sang Kyeong "Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent" Korea Real Estate Review 29.4 pp.43-54 (2019) : 43.
Lee, Da Young, Lee, Sang Kyeong. Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent. 2019; 29(4), 43-54. Available from: doi:10.35136/krer.29.4.3
Lee, Da Young and Lee, Sang Kyeong. "Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent" Korea Real Estate Review 29, no.4 (2019) : 43-54.doi: 10.35136/krer.29.4.3
Lee, Da Young; Lee, Sang Kyeong. Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent. Korea Real Estate Review, 29(4), 43-54. doi: 10.35136/krer.29.4.3
Lee, Da Young; Lee, Sang Kyeong. Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent. Korea Real Estate Review. 2019; 29(4) 43-54. doi: 10.35136/krer.29.4.3
Lee, Da Young, Lee, Sang Kyeong. Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent. 2019; 29(4), 43-54. Available from: doi:10.35136/krer.29.4.3
Lee, Da Young and Lee, Sang Kyeong. "Determinants of Transaction Volumes by Type of Chonsei and Monthly Rent" Korea Real Estate Review 29, no.4 (2019) : 43-54.doi: 10.35136/krer.29.4.3
