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|Other Titles: ||Research on the Bubble of Condominiums-The Case Study in Taichung City|
Lee, Wen-Chieh;Ning, Fang-Shii;Huang, Ya-Chi
Housing Bubble;Condominium;Hedonic Price Method
|Issue Date: ||2015-03-24 18:22:27 (UTC+8)|
Since there were not many papers focusing on the topic of the relationship between bubbles and housing characteristics, this paper studies the internal as well as the external causes of housing bubble by adopting the canonical Hedonic Pricing Method. By utilizing a constructed unique database composed of Taichung housing transactions, the detailed features of transactions on the condominiums can be investigated. The ＂Building Interior＂, ＂Education＂, ＂Leisure＂, ＂Living Infrastructure＂, ＂Location＂, ＂Transportation＂, ＂Security＂, and ＂NIMBY＂ are collected as the measurement of quality of life in housing characteristics to complement the Star School District impact in the educational buffer. Using the logarithm of house price bubbles as dependent variable, and the independent variable taking distance between condominiums and facility the form of logarithm, the discover what factors are used for house price speculation. The results show the resident of condominium prefers living in the prosperous urban area with serene environment. In other words, the closer the condominiums are with leisure facilities, such as public park, and the further they are with facilities that gathers crowd and traffic, such as transportation hub and entertainment facilities, the larger the bubble.
|Relation: ||建築與規劃學報, 15(2&3), 155-174|
|Data Type: ||article|
|Appears in Collections:||[經濟學系] 期刊論文|
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