공동주택 실거래가지수 산정에 관한 연구 = A New Condominium Price Index Based On Transaction Data

다국어 초록 (Multilingual Abstract)

Recently, real transaction price change has become more important in Korea. In fact, real transaction price had never been surveyed before the government enacted the Housing Real Transaction Price Report Regulation for capital gain tax in 2004. Therefore, almost all previous studies analyzed the housing market by examining the asking price. However, the asking price is generally different from the transaction price and the study results based on it can distort housing policy. If the asking price change does not exactly mirror the real housing transaction price change, housing policy based on it can distort housing market through inappropriate reaction. Therefore, in order to understand the real change of housing market and establish a more effective housing policy, it is necessary to analyze not only asking price but also transaction price. This study investigates asking price change and real transaction price change with 51 week(12 month) data reported by realtors. The results show the differences between two price indices. First, the transaction price fluctuates more widely than asking price. Especially, the price gap increases when the real transaction price index decreases. Second, the real transaction price change precedes asking price change. In conclusion, this study implicates that housing policy should be established according to the real transaction price change rather than asking price change.

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