금리충격이 오피스텔의 월세 점유전환에 미치는 영향 연구

This study examined the determinants affecting the conversion of officetel tenancy from jeonse (lump-sum deposit lease) to monthly rent, focusing on factors like exclusive use area, geographical location, interest rates, and floor level. The data comprised actual officetel jeonse rental transactions from the Ministry of Land, Infrastructure and Transport, along with household loan interest rates from the Bank of Korea, spanning January 2011 to October 2022. Key findings include: Reduced exclusive use areas were associated with a preference for monthly rentals. Officetels in regional areas showed a stronger preference for monthly rent than those in metropolitan zones. If anticipated future interest rates exceed past rates, tenants are more inclined to opt for monthly rent over jeonse. This is attributed to the increased costs associated with procuring jeonse funds under high-interest environments. Higher floor officetels were more likely to switch to monthly rent. Using the Schoenfeld residual test, it was observed that the relationship with interest rate changes varied after 48 months of residence. Specifically, an increased interest rate influenced monthly rent preference more for tenancies exceeding 48 months than those under this duration. In summary, this research highlights the nuanced interplay of various factors on officetel tenancy preferences and underscores the pivotal role of interest rates, especially for longer-term residencies.