Since its introduction in 1977, the price cap system for new apartment has been used as a strong housing regulation. However, until now, arguments against the effectiveness of the price cap system for new apartment have continued, and empirical studie...
Since its introduction in 1977, the price cap system for new apartment has been used as a strong housing regulation. However, until now, arguments against the effectiveness of the price cap system for new apartment have continued, and empirical studies on effectiveness of the price cap system for new apartment have not produced consistent results. Accordingly, the price cap system for new apartment has been repeatedly implemented and abolished. As housing price instability continues in recent years, the government is considering the improvement of the price cap system for new apartment. Therefore, this paper proposes evaluation indicators for evaluating the actual policy performance of the price cap system for new apartment. A multidimensional performance evaluation indicators are proposed, including market and economic influencing factors of the price cap system for new apartment, as well as social and policy influencing factors that have not been considered in the policy performance evaluation. In addition, in order to evaluate the actual performance of the price cap system for new apartment, the priority of evaluation indicators was analyzed through AHP. In the future, it is necessary to conduct empirical analysis using the evaluation indicators proposed in this paper.