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Comparison of Synchronization Phenomenon & the Changing Rate of the Charter Rates by major cities - Korea, Seoul, Busan, Daegu, Gwangju, Daejeon -

주요 도시별 전세가율의 동조화 현상과 변동률 비교 - 전국, 서울, 부산, 대구, 광주, 대전 -

  • Choi, Jeong-Il (Division of Business, SungKyul University) ;
  • Lee, Ok-Dong (Division of Urban Planning/Real Estate, SungKyul University)
  • 최정일 (성결대학교 경영학부) ;
  • 이옥동 (성결대학교 도시계획/부동산학부)
  • Received : 2019.12.19
  • Accepted : 2020.02.20
  • Published : 2020.02.28

Abstract

The purpose of this paper is to find the direction by analyzing the synchronization phenomenon and the change rate of apartment charter rate in Korea, Seoul, Busan, Daegu, Gwangju and Daejeon. For this purpose, this study used a total of 239 monthly data from January 2000 to November 2019 in Kookmin Bank housing statistics. In the correlation analysis, Korea showed the highest relationship in order of Seoul, Busan, Incheon and Daegu. Seoul showed a low figure of 0.3 without any distinctive features from other cities. On the other hand, Busan, Daejeon and Daegu showed high correlations. As a result of the regression analysis, Korea and 5 major cities were all moving in the same direction with positive(+) values. And Busan and Seoul responded significantly to Korea. In the shock response, Korea is most shocked by the change in Seoul. Daegu is relatively shocked by Busan and Daejeon. Seoul's charter rate has declined most strongly in the last three years. Therefore, it is time to be careful not to incur losses due to gap investment. If we look at the relationship between the charter rate and the sale price in future studies, we can better understand the Korean apartment market.

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