@article{ART002824252},
author={Jin Yu and Chang-Moo Lee and Jung-Uk Jung},
title={Estimation of Building Age Effect on Condominium Price based on the APC Model},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2022},
volume={32},
number={1},
pages={25-39},
doi={10.35136/krer.32.1.2}
TY - JOUR
AU - Jin Yu
AU - Chang-Moo Lee
AU - Jung-Uk Jung
TI - Estimation of Building Age Effect on Condominium Price based on the APC Model
JO - Korea Real Estate Review
PY - 2022
VL - 32
IS - 1
PB - korea real estate research institute
SP - 25
EP - 39
SN - 2092-5395
AB - Redevelopment and reconstruction have been restrained despite the construction of new condominiums with improved quality in developed urban area. Due to limitations on the building age, its increases in the reconstruction requirements have affected condominium prices. By using the APC(Age- Period-Cohort) model, this study estimated the effect of building age on condominium prices when the quality of housing was controlled. An empirical analysis was conducted by dividing Seoul into two, north and south of the Han river. Results revealed that the construction year cohort effect exists, and that price increases have occurred corresponding to the quality standard requirements increasing around the 2000s. This is thought to have resulted from an imbalance in the supply and demand of high-quality housing. Therefore, this can be solved by supplying better quality housing through the reconstruction project. Also, Because of different patterns of building age effect by region, building age limitations should be flexible in different regions.
KW - Real Transaction Price;Age-Period-Cohort Model;Building Age Effect;Construction Cohort Effect
DO - 10.35136/krer.32.1.2
ER -
Jin Yu, Chang-Moo Lee and Jung-Uk Jung. (2022). Estimation of Building Age Effect on Condominium Price based on the APC Model. Korea Real Estate Review, 32(1), 25-39.
Jin Yu, Chang-Moo Lee and Jung-Uk Jung. 2022, "Estimation of Building Age Effect on Condominium Price based on the APC Model", Korea Real Estate Review, vol.32, no.1 pp.25-39. Available from: doi:10.35136/krer.32.1.2
Jin Yu, Chang-Moo Lee, Jung-Uk Jung "Estimation of Building Age Effect on Condominium Price based on the APC Model" Korea Real Estate Review 32.1 pp.25-39 (2022) : 25.
Jin Yu, Chang-Moo Lee, Jung-Uk Jung. Estimation of Building Age Effect on Condominium Price based on the APC Model. 2022; 32(1), 25-39. Available from: doi:10.35136/krer.32.1.2
Jin Yu, Chang-Moo Lee and Jung-Uk Jung. "Estimation of Building Age Effect on Condominium Price based on the APC Model" Korea Real Estate Review 32, no.1 (2022) : 25-39.doi: 10.35136/krer.32.1.2
Jin Yu; Chang-Moo Lee; Jung-Uk Jung. Estimation of Building Age Effect on Condominium Price based on the APC Model. Korea Real Estate Review, 32(1), 25-39. doi: 10.35136/krer.32.1.2
Jin Yu; Chang-Moo Lee; Jung-Uk Jung. Estimation of Building Age Effect on Condominium Price based on the APC Model. Korea Real Estate Review. 2022; 32(1) 25-39. doi: 10.35136/krer.32.1.2
Jin Yu, Chang-Moo Lee, Jung-Uk Jung. Estimation of Building Age Effect on Condominium Price based on the APC Model. 2022; 32(1), 25-39. Available from: doi:10.35136/krer.32.1.2
Jin Yu, Chang-Moo Lee and Jung-Uk Jung. "Estimation of Building Age Effect on Condominium Price based on the APC Model" Korea Real Estate Review 32, no.1 (2022) : 25-39.doi: 10.35136/krer.32.1.2