• Journal of Cadastre & Land InformatiX
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• v.50 no.1
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• pp.125-141
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• 2020

This study investigated the time-series relationship between housing consumer sentiment and housing prices in the five major districts in Seoul and also analyzed the effect of the housing consumer sentiment on housing prices using Granger Causality and VEC (Vector Error Correction) models. To describe the key results, first of all, housing consumer sentiment and regional housing market prices were closely related to each other, and the consumer sentiment strongly affected the change of housing prices. Second, the housing consumer sentiment was confirmed to have a discriminatory effect on the housing prices among the districts in Seoul in the short term. Specifically, the housing price of the east southern district (ESD) was the main reason for the change in housing consumer sentiment in Seoul, and that the resulting impact was transferred to other districts. Third, it was analyzed that regions other than the ESD would increase the housing prices in the long term as the housing consumer sentiment turned positive, but that the ESD would see a steady tone. Fourth, in the case of relative influence by district, housing (apartment) price fluctuation in a district was generally found to be most affected by adjacent or competitive districts. Through these findings, this study confirmed that there is a clear causality between housing consumer sentiment and housing prices in each district of Seoul and that there is a discriminatory influence on housing consumer sentiment among the districts.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.682-691
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• 2016

The purpose of this study is to explore the causal and precedence relationships between the housing sub-market and the results of a consumer sentiment survey about the housing market. This study investigates the relationships between the survey results and an apartment deal price index by size and bidding price rate in apartment auctions by extending research related to consumer sentiment surveys. We surveyed the Seoul Metropolitan Area and analyzed the results using a unit root test, cointegration test, Granger causality test, and cross-correlation test. It was confirmed that causality exists between the survey results and apartment deal price index by size and bidding price rate, and it was also confirmed that there are correlation and precedence relationships between them.

• Journal of Digital Convergence
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• v.19 no.9
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• pp.9-18
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• 2021

Constructing the Metropolitan Railway Express (the GTX) may have an impact on consumer confidence and housing sales price located near the planned route. This study looked at how consumers' psychology and housing prices change as the large-scale transport infrastructure plane was planned. Also, it looked at the relationship between consumer sentiment and housing prices to analyze the impact of new transportation facilities inflows. Using a correlation analysis, the relationship between the consumer sentiment index and the actual transaction price of apartments was identified. The impact of GTX on the consumer sentiment index and the actual transaction price of apartments was looked at using the Difference-in-Differences methodology. Our finding shows that the construction plan of a large-scale transportation infrastructure in the metropolitan area affects the sentiment of housing consumption and actual transactions. In a situation where the government is speeding up the construction of a wide-area transportation network such as GTX with the goal of becoming a city where people can commute to downtown Seoul within 30 minutes, policies that can stabilize the housing market in transportation hubs should be suggested.

• The Journal of the Convergence on Culture Technology
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• v.5 no.4
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• pp.43-49
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• 2019

The purpose of this study is to estimate the expenditure determinants of the leisure goods consumption market. In order to achieve the research purpose, 6597 samples of household trend survey data were used. Tobit model was applied to estimate expenditure determinants. As a result of analysis, expenditure determinants for sporting goods were influenced by marital status, education level, age, number of households, housing ownership and income level. The variables influencing spending on leisure items such as mountain climbing, fishing and hunting items were influenced by gender, marital status, education level, age, number of households, housing ownership and income level. The analysis results can be used as policy data for the establishment of leisure culture. The National Statistical Office's household trend survey is a yearly survey through a nationwide survey, but despite the fact that it is reliable data, it is not possible to apply various variables such as psychological characteristics to estimate consumer expenditure determinants more concretely. Has a limit of.

• Land and Housing Review
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• v.2 no.4
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• pp.367-377
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• 2011

This paper investigates the determination factors' variation of real estate price after sub-prime financial crisis, in korea, using a VAR model. The model includes land price, housing price, housing rent (Jensei) price, which time period is from 2000:1Q to 2011:2Q and uses interest rate, real GDP, consumer price index, KOSPI, the number of housing construction, the amount of land sales and practices to impulse response and variance decomposition analysis. Data cover two sub-periods and divided by 2008:3Q that occurred the sub-prime crisis; one is a period of 2000:1Q to 2008:3Q, the other is based a period of 2000:1Q to 2011:2Q. As a result, Comparing sub-prime crisis before and after, land price come out that the influence of real GDP is expanding, but current interest rate's variation is weaken due to the stagnation of current economic status and housing construction market. Housing price is few influenced to interest rate and real GDP, but it is influenced its own variation or Jensei price's variation. According to the Jensei price's rapidly increasing in nowadays, housing price might be increasing a rising possibility. Jensei price is also weaken the influence of all economic index, housing price, comparing before sub-prime financial crisis and it is influenced its own variation the same housing price. As you know, real estate price is weakened market basic value factors such as, interest rate, real GDP, because it is influenced exogenous economic factors such as population structural changes. Economic participators, economic officials, consumer, construction supplyers need to access an accurate observation about current real estate market and economic status.