@article{ART001261514},
author={Han, Dong-Geun},
title={An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2008},
volume={57},
pages={79-97},
doi={10.15793/kspr.2008.57..005}
TY - JOUR
AU - Han, Dong-Geun
TI - An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities
JO - The Korea Spatial Planning Review
PY - 2008
VL - 57
IS - null
PB - 국토연구원
SP - 79
EP - 97
SN - 1229-8638
AB - This article explores the pattern of house price movements in Korean metropolitan cities during the period of mid 1980s to 2000s. The pattern is characterized by big discrepancy in increasing rates of house prices across big cities in 1980s, falling house prices at similar rates in 1990s, and heterogeneous changing rates of house prices with some cities experiencing soaring price while other cities experiencing falling price in 2000s. Regression analysis using panel data shows that real GRDP has the strongest impact on house price in respective cities, along with real GDP and real interest rates. Net inflow of population is estimated to have a positive impact whereas dishonored bill ratio has a negative impact. The result also indicates that region specific factors outweigh nation-wide macro factors in determining the regional house prices, and that trend becomes even stronger over time. This offers an explanation on the pattern of house price movements in metropolitan cities. Moreover, our study suggests that we need to introduce a region-specific housing policy.
KW - House Price;Housing Policy;Regional Housing Policy;Characteristics of House Price Movements by Periods
DO - 10.15793/kspr.2008.57..005
ER -
Han, Dong-Geun. (2008). An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities. The Korea Spatial Planning Review, 57, 79-97.
Han, Dong-Geun. 2008, "An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities", The Korea Spatial Planning Review, vol.57, pp.79-97. Available from: doi:10.15793/kspr.2008.57..005
Han, Dong-Geun "An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities" The Korea Spatial Planning Review 57 pp.79-97 (2008) : 79.
Han, Dong-Geun. An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities. 2008; 57 79-97. Available from: doi:10.15793/kspr.2008.57..005
Han, Dong-Geun. "An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities" The Korea Spatial Planning Review 57(2008) : 79-97.doi: 10.15793/kspr.2008.57..005
Han, Dong-Geun. An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities. The Korea Spatial Planning Review, 57, 79-97. doi: 10.15793/kspr.2008.57..005
Han, Dong-Geun. An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities. The Korea Spatial Planning Review. 2008; 57 79-97. doi: 10.15793/kspr.2008.57..005
Han, Dong-Geun. An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities. 2008; 57 79-97. Available from: doi:10.15793/kspr.2008.57..005
Han, Dong-Geun. "An Empirical Analysis of Housing Price Pattern and Causes in the Korean Metropolitan Cities" The Korea Spatial Planning Review 57(2008) : 79-97.doi: 10.15793/kspr.2008.57..005
