Apartment Sales Research Articles

Determination of outliers when building a multivariate regression model of prices in residential real estate market of the region

The paper is aimed at selecting the optimal method for identifying outliers in the initial data when building a multivariate regression model of prices in the regional residential real estate market. The study was based on offers for sale of apartments in prefab flat blocks located in Irkutsk. In this regard, a basic multiplicative multivariate regression model was built, describing the dependence of cost indicators on the pricing factors of real estate. The identified outliers were iteratively removed from the basic model. The methods for detecting outliers included calculation of standard deviation (z-score), calculation of the Mahalanobis distance, as well as a method developed in the study for bringing the prices of objects to the characteristics of the reference object. The optimal method for detecting outliers in the initial data was selected by comparing the characteristics of the final variable-based multivariate regression models obtained after removing outliers from them. The analysis of the results proved the method of bringing the prices of objects to the characteristics of the reference object to be the optimal method of identifying outliers when building a multivariate regression model of prices in the regional residential real estate market. This method significantly reduces the approximation errors of the basic multivariate regression model of the market, thereby increasing the adequacy of the results of the real estate valuation conducted on its basis.

Influence of a traditional flea market on property prices in its surroundings – a case study in Porto Alegre, Brazil

Flea markets are important as economic and cultural phenomenon in several cities around the world. There is little attention to their influence on real estate prices. The “Brique da Redenção” occur every weekend since 1978 in Porto Alegre, Brazil. There could be positive effects on surrounding properties. However, the positioning of this flea market implies on reduce the accessibility on weekends to properties placed in the same street and it could reduce property prices. The aim of this paper is to evaluate the influence of this flea market in residential prices. It was developed hedonic models to explore these effects, with a sample of more than 5.3 thousand apartment sales. The analysis shows a satisfactory statistical performance of the hedonic model. The study indicates that Brique’ effect is capitalized in the market prices, with an average loss on value around to 7.8% to properties placed in front to the Brique.

Buy Back Guarantee between Developer and Creditors: Study of Apartment Sale and Purchase Agreements Based on the Pre-Project Selling System

This research aims to understand the Buy Back Guarantee guarantee for the Apartment sale and purchase agreement based on the Pre-Project Selling System in home ownership credit and efforts to resolve the sale and purchase of Apartments between the Developer and the buyer from the realization of the Buy Back Guarantee guarantee which can provide justice for the parties. The main focus of this research is guaranteeing the repurchase of apartment units for mortgage debtors, to efficiently resolve defaults or payment failures and protect banks. Even though it is not yet strictly regulated in Indonesian law, the Buy Back Guarantee fulfills the elements of Article 1820 of the Civil Code. The dispute resolution clause prioritizes deliberation, but goes to court if that fails, which takes time and costs too much. This research uses a normative juridical approach with a qualitative descriptive analysis method, examining various regulations, legal literature and relevant cases. The research results show that buy back guarantees play an important role in maintaining trust and legal certainty for creditors. However, the effectiveness of this guarantee is highly dependent on the clarity of the clauses in the PPJB, the developer's compliance with the agreement, as well as supervision from the relevant authorities. This study provides recommendations for improving legal protection for creditors through improving regulations and stricter law enforcement.

Functioning of the internal control system in construction organizations based on the business processes regulation

Subject. This article deals with the issues of regulation of business processes of the internal control system in the organizations of the construction complex of Russia. Objectives. The article aims to formulate the main methodological approaches to the arrangement of the internal control system based on the regulation of business processes. Methods. For the study, we used statistical, case, computational and constructive research methods, as well as analytical and substantive procedures. Results. The article finds that business processes need regulation, which helps systematize actions that are interrelated, which also helps implement strategic, tactical and operational plans of an economic entity. The article identifies the main reasons that hinder the development of building companies, and presents the regulations of the business process Apartment Sale in the form of a clear sequence of actions, which made it possible to develop a methodology for internal control with the involvement of almost all structural divisions of an economic entity. Conclusions and Relevance. Regulation of business processes is an important tool for improving the effectiveness of the internal control system, it contributes to the establishment of clear procedures and rules, standardization, business transparency and the efficiency of the business entity. The results of the study can be used as methodological recommendations for the creation of an internal control system based on the regulation of business processes.

시계열모형에 의한 서울 아파트시장 가격예측 분석

The purpose of this study is to make a model to forecasting apartment trade price and household rent price in apartment housing market using ARIMA model. On the basis of those models, I tried to forecast the fluctuations of short-term apartment trade price and household rent price in Seoul apartment market. To analyze the ARIMA model, quarterly data during 2011 1/4∼2023 4/4 are used for identification, estimation, diagnosis, and prediction of the ARIMA model. Using ARIMA model, the outcome ARIMA(1,1,0) model is applied to Sepol apartment trade price in the rate of apartment trade price forecasting model, and ARIMA(1,1,1) model is applied to Seoul apartment household rent price in the rate of apartment rent price. According to the forecast results of Seoul apartment trade price and apartment household rent price in the ARIMA model, looking at the quarterly rate of change in Seoul apartment sales prices, it appears that they will continue to go up the 2024 1/4, and will continue to rise but without significant fluctuations. Looking at the quarterly trend of Seoul apartment rental prices on the 2024 1/4 and continue until the 2024 4/4, and the upward trend will be larger than Seoul apt sale price. While the government's housing policy is sluggish, Seoul apartment sales prices and Jeonse prices are expected to be affected by a decrease in apartment supply and interest rates due to a decrease in permits and occupancy this year.

지역여건을 고려한 아파트 경매의 매각가격 결정요인

This study empirically analyzes the determinants of apartment sale prices in the auction market, focusing on apartments auctioned in Daegu as of 2021. Specifically, it aims to examine whether various factors based on regional characteristics influence sale prices and to explore the detailed impact of residential density. The main empirical findings are as follows. Auction characteristics were all significant. Forced auctions and the number of bidders increased sale prices, while the number of unsuccessful bidders and unpaid management fees decreased sale prices. In terms of Characteristics of goods, the construction period, parking spaces per household, and small and medium-sized area showed significant results. The elapsed years reduced sale prices, while parking spaces per household and small and medium-sized area increased sale prices. In terms of location characteristics, subway distance and school distance were significant. However, it was analyzed that the influence on sales prices was very low. Finally, the study looked at the impact of residential amenities, which hadn't been considered before. Over half of the sub-variables showed significance. Dense residential areas were found to increase sale prices, indicating a preference for housing with various amenities. The results of this study confirmed the determinants of apartment auction sale prices. Specifically, it was established that dense residential areas yield high sale prices in the auction market, attributed to their relatively superior amenities. This study suggests that equal amenities are needed to stabilize the prices of local housing markets.

종합부동산세의 정책적 변화가 아파트 매매가격에 미치는 영향에 관한 연구

1. CONTENTS
 (1) RESEARCH OBJECTIVES
 This study is a study on the impact of policy changes in comprehensive real estate tax on apartment sales prices. The purpose of this study is to examine the effects of real estate characteristics, macroeconomic characteristics, and comprehensive real estate tax characteristics on apartment sales prices in the metropolitan area, Seoul, Gyeonggi-do, and Incheon. In particular, we want to know how policy changes in comprehensive real estate holding tax affect apartment sales prices through the characteristics of comprehensive real estate tax.
 (2) RESEARCH METHOD
 This research method was analyzed as a fixed effect model using the Hausman test.
 (3) RESEARCH FINDINGS
 This study has the following implications. First, it examines the impact of policy changes in comprehensive real estate holding tax in the metropolitan area, Seoul, Gyeonggi-do, and Incheon on apartment sales prices. This study can be said to have implications at the present time in terms of comprehensive real estate holding tax changes due to the real estate recession. Second, this study was constructed with panel data combining time series and cross-sectional data, and attempted to determine the relevance of the apartment sales price index by dividing it into real estate characteristics, macroeconomic characteristics, and comprehensive real estate holding tax characteristics. Third, at a time when changes to the comprehensive real estate holding tax are taking place, research on the impact of the comprehensive real estate holding tax on apartment sales prices will be important, and regional differences in the metropolitan area on the impact of the comprehensive real estate holding tax by characteristics will be examined. This will be seen as meaningful.

딥러닝을 활용한 서울시 주택 유형별 전세가격에 영향을 미치는 요인분석

1. CONTENTS
 (1) RESEARCH OBJECTIVES This study used deep learning DNN model to empirically analyze the factors affecting Chonsei prices of each housing type in Seoul.
 (2) RESEARCH METHOD The output variables are set as the apartment Chonsei price index, the single-family home Chonsei price index, and the townhouse Chonsei price index, and the input variables are the apartment sales price index, single-family home sales price index, townhouse sales price index, number of employed people, and corporate bond yield. housing construction permit records. The spatial scope was set to Seoul, and the temporal scope was set from January 2007 to October 2023.
 (3) RESEARCH FINDINGS Looking at the LIME(Local Interpretable Model-agnostic Explanations) of each Chonsei prices input variable by housing type, when the apartment sale price index is -0.66 or less, the single-family house sale price index is in the range of -0.66 to -0.38, and the townhouse sale price index is -0.59 or less. it was found to have a negative impact on the Chonsei price index for each housing type. When the corporate bond yield was in the range of -0.89 to -0.23 for apartments, -0.89 to -0.23 for single-family homes, and -0.89 to -0.23 for townhouses, it was found to have a positive (+) impact on the Chonsei prices index for each housing type.
 2. RESULTS
 The implications are that although there are differences by housing type, the Chonsei price appears to be greatly influenced by the sale price and interest rates. Therefore, the government must continuously monitor the Chonsei price and sale price by housing type to ensure housing stability for the working class and middle class and appropriate liquidity management.

아파트 매매가격, 전세가격, 월세가격 변동성 결정요인

In this study, the financial time series trend is predicted using Hamilton's Markov regime-switching model to observe the factors of apartment sales, jeonse, and monthly rent prices that change from time to time from a Markov perspective. Inflation since the coronavirus pandemic has pushed the United States interest rate higher, and South Korea is also raising its benchmark interest rate to stabilize the economy. Due to the impact of this increase in the base rate, the mortgage interest rate has also risen, which has a chain effect on the sale price of apartments, the price of jeonse, and the price of monthly rent. Changes in the trend over the long term can be interpreted as exogenous shocks, economic measures, or structural changes. As a result of the Markov model analysis, apartment sales prices, jeonse prices, and monthly rent prices all showed a higher probability of maintaining a recession period, and among them, the recession period for apartment sales price, and jeonse prices was relatively more likely to last longer. In the case of the expected duration period, the duration of the depression phase of apartment sales prices and jeonse prices was similar, while the duration of the depression phase of apartment monthly rent prices was short and highly volatile. As a cause of volatility, loan interest rates were found to be a determinant.

Institutions, urban space, and residential markets in globalizing Shanghai: A comparative study of housing sale and rental prices

ABSTRACT China’s skyrocketing residential market has raised concerns about housing affordability in metropolitan areas. Current literature usually overlooks the various mechanisms between sale and rent, which may unfold more fundamental structural forces beyond housing location and attributes. This study constructs an analytical framework to investigate how global, regional, and local development contexts, including institutional forces, urban spatial structure, human capital, and neoclassical factors, affect apartment sales and rental prices in Shanghai, China. These factors collectively shape the city’s residential market, but renters and buyers may show different housing preferences. Such variation is highly related to their residential status, as renters may prioritize job opportunities while buyers value service amenities more. From the spatial perspective, suburban areas are more inclusive than urban centers, as globalization and institutional factors have exacerbated inequality in the residential housing market in urban centers, and homeownership is changing the patterns of segregation in Chinese cities.

Implementasi terkait Keberhasilan Pembangunan Apartemen Graha Aparna

Land limitations, especially in big cities like DKI Jakarta and Surabaya, have caused land prices to skyrocket in all areas. This has made apartments and condominiums a popular choice for consumers. Additionally, the strategic location of apartments makes them a more affordable option compared to very expensive condominiums in big cities. However, the increase in apartment sales has also led to an increase in fraudulent practices by real estate developers, causing consumers to suffer significant losses as a result of this phenomenon. The specific issue is the commercialization of housing construction projects that have not been implemented but have been publicly marketed. This research is conducted and addressed to the development of Graha Aparna Apartments with the aim of examining the community's perspective on the environmental and social conditions in the development area of Graha Aparna Apartments. The research method used is descriptive qualitative research and literature study of journals or books referenced in the process of examining these issues.

ДОСЛІДЖЕННЯ СУЧАСНИХ УМОВ ПРОВАДЖЕННЯ ДЕВЕЛОПЕРСЬКОЇ ДІЯЛЬНОСТІ В УКРАЇНІ

The article is devoted to the study of current trends in the real estate market, in the construction industry of Ukraine in order to identify the modern conditions in which companies related to the implementation of development projects operate. It has been established that development projects are characterized by particular complexity, and therefore their implementation requires taking into account external factors that can affect the results of the work of developers and other involved persons. The dynamics of the main indicators characterizing the real estate market from the standpoint of market volumes (number of signed contracts) and price changes in the primary and secondary housing markets were analyzed. The study of the number of real estate agreements (agreements on the alienation of real estate, land plots and land shares), including agreements for the purchase and sale of apartments and residential buildings, made it possible to identify the main trends in the real estate market. It was determined that prices on the primary housing market grew at an accelerated pace during the research period, while price fluctuations were more noticeable on the secondary housing market. The volumes of manufactured construction products and their dynamics, the activity of builders and the indicators of acceptance into operation of residential and non-residential buildings were studied. It has been established that the Indices of construction products are unstable in all their types and are characterized by significant fluctuations, that is, the rate of changes in the volume of construction products is characterized by high variability. It has been established that the construction industry and the real estate market are sensitive to changes in the internal and external political situation in the country. It has been proven that the full-scale invasion of Ukraine and the introduction of martial law led to a drop in the real estate market and a drop in construction. Despite the extreme fall of the last year, the housing market. and therefore the development market is gradually recovering, most developers have resumed their activities and are trying to reach the pre-war level in terms of their volumes, companies with unfinished construction have focused on housing completion. A number of construction companies focused on rebuilding damaged housing and real estate. Developers, who at the beginning of the full-scale invasion were in the initial stages of construction, demonstrate positive dynamics of construction work.

ARIMA 모형을 이용한 전국 아파트시장 가격 예측

The purpose of this study is to make a model to forecasting apartment trade price and household rent price in apartment housing market using ARIMA model. On the basis of those models, I tried to forecast the fluctuations of short-term apartment trade price and household rent price in national apartment market.
 To analyze the ARIMA model, quarterly data during 2011 1/4∼2023 3/4 are used for identification, estimation, diagnosis, and prediction of the ARIMA model. Using ARIMA model, the outcome ARIMA(2,1,1) model is applied to nationwide apartment trade price in the rate of apartment trade price forecasting model, and ARIMA(1,1,1) model is applied to nationwide apartment household rent price in the rate of apartment rent price.
 According to the forecast results of nationwide apartment trade price and apartment household rent price in the ARIMA model, looking at the quarterly rate of change in national apartment sales prices, it appears that they will continue to fall in the 2023 4/4, but will turn to an upward trend starting in the 2024 3/4, and will continue to rise slightly but without significant fluctuations. Looking at the quarterly trend of national apartment rental prices, the downward trend is expected to turn into an upward trend in the 2023 4/4 and continue until the 2024 4/4, but the upward trend will not be large.
 While the government's housing policy is sluggish, national apartment sales prices and Jeonse prices are expected to be affected by a decrease in apartment supply and interest rates due to a decrease in permits and occupancy next year.

Property Corporation Exit Strategy Planning and the Importance of Contingency Leadership

This study aims to describe exit strategies in the property development services industry and highlight the importance of implementing contingency leadership in XYZ companies. The focus is on a situation where the decline in apartment sales occurs due to the saturation of the property market and the impact of the Covid-19 pandemic. The main objective of the study is to provide an in-depth understanding of exit strategies in the property development industry and to evaluate the role of contingency leadership in dealing with such situations. This research is a descriptive research with a qualitative approach, which aims to describe and analyze the situation in the property development service industry. The subject of the study is Company XYZ, which represents companies in the property development industry. Data was collected through semi-structured interviews with related parties at Company XYZ. Data is analyzed with steps that include description, data reduction, data presentation, and verification. The results showed that the decline in apartment sales has occurred since 2018 due to the saturation of the property market and the Covid-19 pandemic, as well as the importance of implementing contingency leadership in dealing with the situation. This research provides a new understanding of exit strategies in the property development industry and the mechanisms for selecting them. It can be a basic policy guide for companies in the face of similar challenges. This research has a particular focus on Company XYZ.

Exploring the Potential of Metaverse Platforms in Real Estate Transactions

COVID-19 has posed significant challenges to face-to-face sales of apartments and requires innovative solutions. In order to solve this problem, this paper proposes a model of a metaverse apartment sales promotion system. The proposed system utilizes the Zep metaverse platform to provide customers with virtual model houses and comprehensive real estate information. It provides various views, including satellite maps and 360° video, allowing customers to remotely explore the location of their apartments. Customers can explore the interior of the apartment via avatar, access 2D drawings and immersive 360° 3D videos. In addition, detailed sales conditions can be conveniently checked through a YouTube link, and customer convenience has been enhanced through online consultation with a sales agent. The proposed system aims to enhance the apartment buying and selling process by providing an immersive and convenient metaverse experience.

Wind and Water: How Extreme Weather Conditions Impact Residential Real Estate in Developing Countries

The damaging effects of extreme weather is concerning for many countries across the globe. Though the impact of these events on the housing market has been studied extensively, one aspect that remains unexplored is the value of mortgages. Further, there is no clarity on the impact of the specific types of homes. This study analyzed mortgages and apartment values and included residential land sale prices over 16 years for different localities across Jamaica. The analysis revealed that mortgages are adversely affected by excess rainfall while apartment sale prices are reduced by hurricanes but increased by excess rain. However, residential land prices remain unaffected by both events. The results point to the importance of climate adaptation for the local real estate market and property investment.

Implementasi Terkait Keberhasilan Pembangunan Apartment Grha Aparna dalam Konteks Public Service Kepada Penghuni Apartemen Grha Aparna.

Limited land, especially in big cities such as DKI Jakarta and Surabaya, as well as other areas, has caused land prices to skyrocket in all areas, making housing types such as apartments and condominiums the preferred choice for market consumers. In addition, the apartment's strategic location makes it the right choice in terms of price compared to very expensive condos in big cities. In addition, the increase in apartment sales or what is known as apartments has led to many fraudulent practices carried out by real estate developers or developers, so that consumers suffer huge losses due to this phenomenon. A particular problem is the commercialization of residential construction projects that have not yet been implemented but have been publicly marketed. This research was conducted and addressed to the Grha Aparna Apartment Development with the hope that researchers can find study material, namely the community's perspective regarding environmental and societal conditions in the Grha Aparna Apartment development area, besides that the research method that will be used in discussing this study is a descriptive qualitative research method and Literature study of journals or books that will be referred to in the process of studying this problem
 Keywords: Limited Land, Implementation, Apartments.

Analysis of the Degree of Reflection of the Apartment Sale Price and Publicly Announced Apartment Price for the Value of the Han River View

Analysis of the Degree of Reflection of the Apartment Sale Price and Publicly Announced Apartment Price for the Value of the Han River View

아파트 실거래가를 기반한 전월세전환율의 영향요인 분석

This study examines the theoretical assumptions and previous studies on the factors affecting the conversion rate for Jeonse to Monthly Payment and conducts an empirical analysis of the determinants of the conversion rate for Jeonse to Monthly Payment. The study covers three regions in Seoul of Gangnam (Seocho-gu, Gangnam-gu, and Songpa-gu) and three regions in Seoul (Gangdong-gu, Yangcheon-gu, and Nowon-gu), which are the most active areas for apartment sales, rental, and leasing transactions. In order to empirically analyze the determinants of the conversion rate for Jeonse to Monthly Payment, this study uses the SVAR model based on theoretical constraints between variables, a methodology developed by Lee (2008). The main influencing factors of the conversion rate for Jeonse to Monthly Payment are the 3-year government bond yield, the conversion rate for Jeonse to Monthly Paymentby region, real estate market consumer sentiment index, and mortgage loan amount. The variables except for the real estate market sentiment index had an impact on the sublease conversion rate. By region, the effect was different, with the conversion rate for Jeonse to Monthly Payment in 3 regions (Gangdong-gu, Yangcheon-gu, and Nowon-gu) responding more strongly than in 3 regions (Gangnam (Seocho-gu, Gangnam-gu, and Songpa-gu).

아파트 실거래가를 기반한 전월세전환율의 영향요인 분석

This study examines the theoretical assumptions and previous studies on the factors affecting the conversion rate for Jeonse to Monthly Payment and conducts an empirical analysis of the determinants of the conversion rate for Jeonse to Monthly Payment. The study covers three regions in Seoul of Gangnam (Seocho-gu, Gangnam-gu, and Songpa-gu) and three regions in Seoul (Gangdong-gu, Yangcheon-gu, and Nowon-gu), which are the most active areas for apartment sales, rental, and leasing transactions. In order to empirically analyze the determinants of the conversion rate for Jeonse to Monthly Payment, this study uses the SVAR model based on theoretical constraints between variables, a methodology developed by Lee (2008). The main influencing factors of the conversion rate for Jeonse to Monthly Payment are the 3-year government bond yield, the conversion rate for Jeonse to Monthly Paymentby region, real estate market consumer sentiment index, and mortgage loan amount. The variables except for the real estate market sentiment index had an impact on the sublease conversion rate. By region, the effect was different, with the conversion rate for Jeonse to Monthly Payment in 3 regions (Gangdong-gu, Yangcheon-gu, and Nowon-gu) responding more strongly than in 3 regions (Gangnam (Seocho-gu, Gangnam-gu, and Songpa-gu).