서울시 주거용과 상업용 부동산 가격결정모형 비교분석에 관한 연구

1. CONTENTS (1) RESEARCH OBJECTIVES Linked to commercial real estate and residential real estate is one of the real estate market and want to study. To look at the correlation of each market pricing model of macroeconomic variables and configuration through the Granger causality test to determine the macroeconomic variables that affect residential real estate and commercial real estate. (2) RESEARCH METHOD In this study, research method was through time series analysis (VECM). (3) RESEARCH FINDINGS Granger causality test results, commercial and residential real estate and real estate causal relationship between residential real estate pricing models CD interest rates, gross domestic product, corporate bond yields, and commercial real estate pricing model construction permit area, the unemployment rate, the Korea Composite Stock Price Indexconfiguration.Impulse response analysis, apartment sale prices gross domestic product in the positive (+), corporate bond yields to the negative (-), CD interest rates was a reaction to the negative (-). Rent large office buildings, building permits in the area of ​​the negative (-), the unemployment rate in the negative (-), positive (+) reaction in the Korea Composite Stock Price Index showed. 2. RESULTS Appeared to be affected by the production of income and interest rates, while residential real estate commercial real estate economic activity and business activity indicators affected. Unlike the overseas real estate market, you can see that the residential real estate and commercial real estate markets in Korea are separated. Future as the overseas real estate market, commercial real estate and residential real estate, because you can move, however, government officials do not separate the two markets, one of the real estate market is the need to establish a policy enforcement is.