시세가격을 활용한 아파트 실거래가 반복매매지수 산정A Modified Repeat Sales Index for Apartments Using Both Transaction Price and Asking Prices
- Other Titles
- A Modified Repeat Sales Index for Apartments Using Both Transaction Price and Asking Prices
- Authors
- 이창무; 배익민
- Issue Date
- Aug-2008
- Publisher
- 한국부동산분석학회
- Keywords
- 수정반복매매모형; 실거래가; 동일주택가정; 시세; modified repeat sales model; real sale price; same house definition; SISE(asking price)
- Citation
- 부동산학연구, v.14, no.2, pp.21 - 37
- Indexed
- KCI
- Journal Title
- 부동산학연구
- Volume
- 14
- Number
- 2
- Start Page
- 21
- End Page
- 37
- URI
- https://scholarworks.bwise.kr/hanyang/handle/2021.sw.hanyang/178026
- ISSN
- 1229-4403
- Abstract
- In the beginning of 2006, reporting of transaction price was mandated in the Korean real estate market. Due to the regulation, transaction price, the motst important market information, can be utilized to analyze the real estate market. As a result, a big change is required in price indexing. Before the release of real transaction value, price indices for apartment, the main housing type in Korea, were based on asking prices and Laspeyres formula. Due to both unreliability of price data and limitations of the price indexing method, there have been continuous debates on the price indices for apartments. This study develops a new type of price index utilizing both transaction prices and asking prices in a modified form of repeat sales index. This methodology tries to overcome the well-known inefficiency problem of the basic repeat sales index and unreliability of asking prices. For the analysis, two years span of transaction price data in the Seoul apartment market is used. The results show that price indexing in a more detailed submarket level is possible in a statistically reliable level.
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