House Sales Research Articles

AI 스마트 하우징 구축이 서울시 아파트 거래가격에 미치는 영향

The AI smart housing market is expected to grow, but there is no study on the effect of the installation of AI smart housing on housing prices in terms of activation. It was attempted to demonstrate whether there is a housing price as a characteristic of a house through the hedonic model, which is most commonly used.
 The empirical data was used by combining the K-apt apartment management fee disclosure data and the apartment price and apartment characteristics data provided by Real Estate 114 Reps. According to the apartment management cost information provided by K-apt, 2,144 (12.15%) of 17,638 apartment complexes nationwide for which the AI Smart Housing maintenance fee is charged as an AI Smart Housing were installed. In the case of Seoul, an AI Smart Housing was installed in 213 (8.59%) of the total 2,479 apartment complexes.
 As a result of attaching price information to the management cost information, a total of 12,073 apartment transaction price data were used, and 1,598 pieces of AI Smart Housing installation complexes were used for the analysis. As a result of the empirical analysis, as in the general hedonic model, the house sale price per unit area was higher as the transaction level increased, the number of years elapsed, the total number of households, and the common management cost per household increased. In the case of common management fees, in the case of apartments that are recently supplied, the common management fees are high according to the trend of supplying various resident convenience facilities such as swimming pools and golf driving ranges in the complex, as well as large lobby spaces, and this can be seen as a result of this part being reflected in the house sale price. . In addition, the fact that the smaller the exclusive area is, the higher the price per unit area is due to the fact that the preference for small flats due to the downsizing of the household size, such as the increase in one- or two-person households, is reflected. Lastly, it was found that the apartment price per unit area was higher when the AI Smart Housing, the subject of this study's interest, was installed, compared to the case where the AI Smart Housing was not installed.

Announcement of the first metro line and its impact on housing prices in Bogotá

Transport infrastructure investment impacts mobility and may significantly affect the capitalisation of the areas surrounding these infrastructure projects, even before the projects are completed. This paper analyses the impact that the announcement of the First Metro Line has on housing prices in the city of Bogotá. It combines innovative databases, web scraping and Google Maps with administrative records—such as the Bogotá Urban Development Institute (IDU, by its acronym in Spanish) databases—to assess how the announcement of the metro construction impacts the rental or sales market prices for the houses surrounding the infrastructure projects. The results show that the housing sale prices increased since October 2019, the time when the awarding of the contract for construction of the First Metro Line was announced. The flats and houses on sale located within 1.5 km from the future metro stations showed an increase of 10.5 and 6.5% in prices, respectively.

Analisis perbandingan kinerja keuangan sebelum dan saat terjadi pandemi covid – 19 pada PT. Bumi Serpong Damai tbk. periode 2019 – 2020

The Covid - 19 pandemic caused a fairly deep contraction for the Indonesian economy, which also had an impact on the property and real estate sector, where there was a decrease in public interest in housing sales, where PT. Bumi Serpong Damai Tbk. has a main sales segment, namely integrated city. This study aims to find out whether there has been a significant change in financial performance in the period before and during the Covid-19 pandemic at PT. Bumi Serpong Damai Tbk. period 2019 – 2020. The data used in this study includes quarterly financial data for the period 2019 – 2020, while the method used is quantitative descriptive analysis. Data analysis techniques using Descriptive Statistical Test and Wilcoxon Test. The results of this study indicate that there was no significant difference in the financial performance before and during the Covid-19 pandemic at PT. Bumi Serpong Damai Tbk Period 2019 – 2020.

House Price Prediction of Real Time Data (DHA Defence) Karachi Using Machine Learning

Pakistan’s real estate market has a large impact in GDP growth. Investment in real estate sector in Pakistan is encumbered with lucrative opportunities. The market demand for housing is ever increasing year by year. House sales prices keep on changing and increasing frequently, so there is a need for a system to forecast house sales prices in the future. Several factors that influence house sales price includes; location, physical attributes, number of bedrooms as well as several other economic factors. One of the main motivation of choosing Karachi for the house prediction is that Karachi is capital of Sindh and it has significant importance in country's economic as it is the major commercial and industrial center of Sindh. It is one of the main contribution of the work is that through this the house prediction model based on DHA Karachi data is developed and as per best of our knowledge till today there is no prediction of housing for the country’s important has been developed. has This research paper mainly focuses on real time Defense Housing Authority (DHA) Karachi data, applying different regression algorithms like Decision tree, Random forest and linear regression to find the sales price prediction of the house and compare the performance of these models. Random Forest algorithm gives 98% of accuracy. The proposed work will be very much helpful for the common people, real-estate people, investors and builders to inform them about making decision of selling or buying at Defense Housing Authority (DHA) Karachi.

Spatial Characteristics of the Abandonment Degree of Residential Quarters Based on Data of the Housing Sales Ratio—A Case Study of Kunming, China

The abandonment degree of an urban residential building can reflect the popularity of residential areas. This study uses this idea as a basis for proposing the concept of using residential quarters’ abandonment rate to measure the abandonment degree of an area. The spatial pattern of the abandonment rate and its clustering characteristics were obtained by taking 2517 residential quarters in Kunming’s Main Urban District as research object, and using their listing for sale ratio data. Thereafter, curve estimation was used to explore the influencing factors of abandonment rate. The results are as follows. (1) The abandonment rate of the four circles in Kunming’s Main Urban District increases from inside to outside, showing the pattern of the core area–second ring area–third ring area–new urban district, with evident “core–edge” characteristics. (2) The relationship between distance from the city center, housing ages, and abandonment rate can be well fitted using a quadratic function and shows an inverted “U”-shaped “rising–declining” trend. The relationship between housing prices and abandonment rate is fitted by the inverse function, showing an evident “up” trend. This study is a reference for managers of relevant departments and urban planners in formulating reasonable urban housing development policies.

Forecasting Monthly Housing Sales to Foreigners with Type 1 Fuzzy Regression Functions Approach Based on Ridge Regression

Artificial neural networks, fuzzy inference systems, and hybrid methods where these methods are used together have been frequently used in forecasting problems. Although fuzzy inference systems produce very effective results in forecasting problems, the fact that many classical fuzzy inference systems depend on the rule base makes it difficult to implement these methods. The type 1 fuzzy regression functions approach, which is not dependent on the rule base and has a simpler structure than many fuzzy inference systems, is frequently used in forecasting problems. Although the Type 1 fuzzy regression functions approach has superior forecasting performance, it is known that the method has a multicollinearity problem in the application process of this method. The type 1 fuzzy regression functions approach based on ridge regression both eliminates the multicollinearity problem of the Type 1 fuzzy regression functions approach and produce better forecasting results than the Type 1 fuzzy regression functions approach. In this study, the forecasting of monthly house sales to foreigners is carried out for the first time with the Type 1 fuzzy regression functions approach based on ridge regression, and the results of the analysis are compared with many methods suggested in the literature. As a result of the analysis, it is concluded that the forecasting results obtained with the Type 1 fuzzy regression functions approach based on ridge regression produce better results than some other methods in the literature.

Sistem Informasi Penjualan Online Rumah Hunian

At this time, which has entered the world of globalization, where humans are increasingly familiar with the world of increasingly advanced technology in making it easier to carry out various activities in life. At this time the world has recognized a technology that is often used in online shopping called the internet.The internet is able to make a person communicate with other people in various parts of the world, through the internet everyone can provide or obtain the information needed anytime and anywhere we are. In addition, with the presence of the internet, humans can do business easily. PT. Karya Utama Jaya Palembang is a company engaged in the sale of residential houses with various types in Palembang. In conducting sales activities PT. Karya Utama Jaya still uses simple information by employing sales personnel to distribute brochures at various points of location so that marketing and sales are not optimal, so housing sales have not been effective and efficient. In connection with the problem of many competitors selling housing and lack of marketing, it is necessary to create a web-based information system by utilizing the internet which serves to facilitate consumers in getting information and being able to place orders easily and can improve a company's performance in selling residential homes and in marketing.Keywords : System, information, house, Online

Um sonho à venda: a comercialização dos imóveis do PMCMV – faixa 1

Abstract Historically, in Brazil, the government’s actions regarding the housing agenda have been based on the home ownership ideology, opening up a possibility, even though irregular, for commercialization. This article analyzes the context of the sale of houses from the Minha Casa Minha Vida Program – range 1 (2009 to 2020). The methodological procedures include monitoring of advertisements, access to the notification control database of the federal bank Caixa Econômica Federal, and land use mapping of housing units. This research’s contribution is that it analyzes those processes in different analytical scales – federation unit (state of Rio Grande do Norte), metropolitan region of Natal, and medium-sized city (Mossoró) – with the same methodological approach.

독일의 토지공개념 운동(II)

In Germany, the population of large cities such as Berlin has increased rapidly due to industrialization and urbanization since modern times. The rental apartments for workers in large cities built during this period were called “rental barracks”(Mietskaserne), and the living conditions were very poor. As such, the demand for residential space in large cities continued to increase, and this resulted in an increase in demand for land, leading to a rapid rise in land prices. In the midst of this, American economist Henry George argued that the land value should be shared by society through the land value taxation, which collects land rent as a tax, and through this, the land problem could be solved. Influenced by Henry George's argument, Adolf Damashke appeared in Germany and the German Land Reformers Association (Bund Deutscher Bodenreformer) was formed. Due to their efforts, the Hereditary Land Rights Act was enacted in 1919, and Article 155 of the Weimar Constitution contained the content of the return of development profits. However, even if the constitution stipulates the return of development profits, the subsequent legislation was not implemented. This experience of Germany's past legislation can be used as a reference in Korea's current legislation related to land-rental housing for sale and the issue of stipulating the concept of land public in the Constitution.

The asymmetric effects of real variables on real housing prices: a nonlinear ARDL analysis for Turkey

PurposeThis study aims to examine the impact of some real variables such as real effective exchange rates, real mortgage rates, real money supply, real construction cost index and housing sales on the real housing prices.Design/methodology/approachThis study uses a nonlinear autoregressive distributed lag (NARDL) model in the monthly period of 2010:1–2021:10.FindingsThe real effective exchange rate has a positive and symmetric effect. The decreasing effect of negative changes in real money supply on real housing prices is higher than the increasing effect of positive changes. Only positive changes in the real construction cost index have an increasing and statistically significant effect on real house prices, while only negative changes in housing sales have a small negative sign and a small increasing effect on housing prices. The fact that the positive and negative changes in real mortgage rates are negative and positive, respectively, indicates that both have a reducing effect on real housing prices.Originality/valueThis study suggests the first NARDL model that investigates the asymmetric effects on real housing prices instead of nominal housing prices for Turkey. In addition, the study is the first, to the best of the authors’ knowledge, to examine the effects of the five real variables on real housing prices.

COMMODIFICATION OF RELIGION IN HOUSING

Indonesian society is pluralistic—many different ethnicities, cultures, and religions. One of the things that are currently booming is related to religious issues. The religion in question is Islam because the Indonesian people are the majority of the Muslim community. With the Muslim majority community, this is the field of business oriented capitalists. This capitalist tries to marry all business activities with the Islamic religion, called the commodification of religion. This study aims to describe the commodification of religion in terms of property, namely sharia housing. This research uses a Qualitative method. The Result Basically, the concept of sharia housing marries the idea of conventional housing that has existed before with the concept of religion to form a new lifestyle and identity among urban communities; marketing strategies with the gathering concept are various ways that developers use using religious symbols to sell their products. The use of religious symbols in the sale of sharia housing is considered a form of religious commodification.

Estimating land values using residential sales data

Land prices are at the heart of urban economics but are generally not observed directly. Though they are central to household and firm location choices, land-only sales in urban areas are rare and often outliers. Indeed, urban areas are in part defined by a largely contiguous area of high land-use intensity – those places in which developable land is scarce. In this paper, we make use of more-common market data to infer land prices: house sales. Using locally weighted regressions, we estimate the value of a standardized structure across two urban counties: Maricopa, Arizona and Sedgwick, Kansas. Because the value of the standardized structure should be invariant across different locations in a metropolitan area, any remaining variation in the value surface should reflect differences in land values. By pinning down this surface using vacant lot sales at the periphery, we are able to extract land values throughout the metropolitan area, even in locations where vacant land sales are rare.

New Institutional Design of Public Housing for Home-ownership in Korea Considering the Availability of Consumers

The purpose of this study is to devise alternative models for public housing to meet middle and low-income households’ demands for home-ownership. Based on the need to transform public housing for sale as an intermediate tenure, this study tried to derive alternative models that can increase the availability of consumers. First, the availability of consumers was defined as a set of affordability, profitability, and sustainability, and based on this, issues about existing public housing policy and criteria for alternative models were drawn. As a result, the profit-sharing model, the land lease model I, and the land lease model II were presented as alternative models. According to simulation analysis, it was found that the alternative model can further increase the availability of consumers compared to private housing or existing public housing. In particular, the profit-sharing model had the advantage of being accessible even with low household income, and the land lease model had the advantage of a low initial price. And the land lease model II had the advantage of maintaining affordability even during the next sale, similar to the profit-sharing model, Accordingly, this study suggested that different alternative models could be selectively used depending on the situation of the public housing provider.

Determining the Construction Costs for Basic Type to Estimate the Sale Prices of New Multi-Family Housing Projects

Over the past two decades, the South Korean government has been regulating the supply and prices of multi-family housing (MFH) projects to stabilize the national population. Recently, active research has been conducted on the construction costs for basic type (CCBT) calculation to formulate appropriate policies. However, related previous studies have focused on improving the predictability of the construction cost in early stages based on existing house sale prices. In contrast, the CCBT calculation approach mainly requires policy implementation in practical fields, without considering the requirements of academics. Therefore, it is necessary to academically discuss a different approach for the estimation of sale prices of new MFH in the construction stage. This study aimed to calculate the CCBT to determine the appropriate sale price for new MFH. We selected four sample projects to calculate the CCBT, and a weighted average method was applied to correct regional deviations. Case application, which is a comparison between the CCBT-based sale price and actual case-based sale price, produced cost values in the range of 98–104%, and they included additional expenses. The results of this study demonstrate an extremely high level of cost estimation accuracy according to the Association for the Advancement of Cost Engineering study. Furthermore, this study can facilitate the stabilization of national housing by determining an appropriate sale price and can contribute to cost management research conducted during the construction phase.

Signaling effects of recurrent list‐price reductions on the likelihood of house sales

Recurrent list-price reductions for a house may signal the impatience of sellers to conclude a sell transaction more quickly, leading to more visits and a higher likelihood of being sold (positive signal). Recurrent list-price reductions may also provide a market signal that the listing is problematic and thus harder to sell without a list-price reduction, leading to a lower likelihood of being sold (negative signal). Unlike standard survival analysis, we investigate which signal prevails using a joint frailty model that accounts for the interdependence among recurrent list-price reductions and the association between the recurrent reductions and the sold event. Our novel data set contains the time-dated recurrent list-price reductions for each house listed on the market. The results from the joint frailty model show time-varying negative impacts of list-price reductions on the likelihood of a house sale, supporting the dominance of the negative signaling effects of recurrent list-price reductions. Although listings with frequent list-price reductions are less likely to be sold, sold houses sell at a higher ratio of sold price to last list price, which incorporates current market conditions and fairer pricing, holding constant the initial list price and the aggregate list-price reduction from the initial list price.

통화정책의 불확실성은 주택가격에 영향을 미치는가?

This paper empirically examines the impact of different regimes of monetary policy uncertainty(MPU) index on housing sales and jeonse price volatility covering the period from January 1990 to December 2021 with adopting Markov regime switching. The anaysis result can be summarized as following. First, During the sample analysis period, it is found that the higher the MPU index, the more negatively the housing sales price at the high volatility regime 2(expansion period). Second, it is found that the higher the MPU index, regardless of regimes, is to affect a negative effect on the housing sales price during the post-global financial crisis period. Third, It ia found that the MPU index reacted asymmetrically to housing prices or jeonse prices. Therefore, in order to stabilize the economy, it is necessary to simultaneously consider not only traditional real economy stabilization policies such as interest rate policies but also market psychological factors such as the MPU index as policy goal management indicators.

STO를 활용한 고령자 소유 주택자산과 노인복지주택의 연계방안 연구

This study intends to propose a new model linking the asset securitization of housing owned by the elderly and securing funds for the construction of welfare housing for the elderly by using STO. This study proposes a five-relationship model consisting of five protocols, centered on the STO trading platform. As a result of simulations for multi-family houses owned by the elderly, the elderly who own a house can secure the occupancy fee and monthly payment of the elderly welfare housing without debt, and the STO investor has a stable investment return regardless of fluctuations in housing price. The model using the STO can be expected to provide liquidity to the elderly who have a high housing ownership rate and should burden high housing maintenance costs and to expand the supply of welfare housing for the elderly. In order to revitalize STO, it is necessary to revise the Capital Market Act to enable the issuance of STO, and to improve the guarantee system and system that allows for sale of housing for the elderly.

공공분양주택의 수요특성과 선택요인에 관한 연구

This study aims to propose a policy for improving the quality and expanding supply of public housing for sale by finding problems and improvements in public housing for sale by studying the demand characteristics and selection factors on the part of public housing for sale buyers. The results of the empirical analysis are as follows: First, the perception of public housing for sale was positive and the reason was because of its low selling price. As for the perception of brand image of public housing for sale, brands of private construction companies are preferred the most because of their higher value investment. As for the preferred housing area for public housing for sale, it was found that medium-sized housing was more preferred than small-sized housing. The selection factors of public housing for sale were convenience of transportation, high investment value, convenience of parking space, and excellent educational environment. Second, in case of the residential satisfaction, it turned out that residents feel generally satisfied with residence at above-average points. The reasons for satisfaction were in the order of ‘environmental friendliness,’ ‘high brand recognition,’ and ‘high investment value.’ On the other hand, the reasons for dissatisfaction were in order of ‘convenience of parking space,’ ‘convenience of traffic,’ and ‘excellent educational environment.’ The factors to be considered to improve the residential satisfaction were shown in order of ‘convenience of transportation,’ ‘excellent educational environment,’ and ‘convenience of amenities.’ Third, survey participants agreed on the necessity of expanding the supply of public housing for sale on some levels at above-average points. The items to be considered when supplying public housing for sale were ‘convenience of transportation,’ ‘excellent educational environment,’ and ‘convenience of using convenience facilities’ in their order. This is the same as the ones to be considered to improve residential satisfaction. In addition, the most common area of housing that needs to be expanded is 'more than 74㎡ to 85㎡,‘ the same as the preferred area of housing.

Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices

This study analyzed the impact of nearby redevelopment project characteristics on the apartment and single/multi-family house prices in all areas of Seoul. The impact of the distance to the redevelopment project area, the number of supply households, and the number of project areas were analyzed using the housing sale transaction price from 2006 to 2020, and all housing types show the same direction. Findings reveal that the closer the supply of households, the higher the transaction price. Moreover the number of project areas has a positive effect after a certain distance. This indicates a positive effect on factors such as price synchronization when new houses are supplied from nearby project areas, expectations as project candidates, and shares in the benefits of improving the residential environment. Redevelopment projects are likely to be used as large-scale housing supply assurance measures in the future. When designing an area, one must consider planning and progress by region so that the size, number of union members, and maintenance infrastructure ratio do not significantly impact the housing market. This study obtained general results for all regions in Seoul, yielding important policy implications and providing useful basic data to investors, public policymakers, and practitioners.

지역별 주택의 시장근본가격(market fundamental price)추정에 관한 실증연구

In this study, the market fundamental price of house price was estimated from August 2001 to April 2022 in based on the present value model and compared with the actual house sale price.
 As a result, First, the pattern of the difference between the actual housing sale price and the market fundamental price of each model was similar in other regions except Incheon, and although it was not exactly the same, it was divided into four periods. Second, The market fundamental price of houses estimated according to the three models showed different volatility by period and region. Third, the estimate of the third model showed less volatility compared to the estimates of other models and closely followed the actual apartment sale price. Fourth, Factors the interest rate and rent growth rate which are factors constituting the market fundamental price had different effects depending on the period.