臺灣地區不動產市場流動性影響因素探討

The Liquidity of Real Estate Trade and Auction Markets in Taiwan

呂佳峰(Robert Lu)

指導教授 ： 邱建良

共同指導教授 ： 張鼎煥

淡江大學/商學院/財務金融學系碩士在職專班/碩士(2012年)

https://doi.org/10.6846/TKU.2012.00520

摘要

本研究係蒐集自2007年至2010年間臺灣地區本島22縣市為研究對象，共計285筆觀察值，運用縱橫資料(Panel Data)，探討需求面,交易面與金融經濟面指標如人口遷入與遷出比率、住宅存量變動率、核發使用執照樓地板面積等變數對不動產交易量之影響，藉此找出顯著影響不動產交易量之關聯因素。
實證結果顯示平均拍賣價格變動率、核發使用執照樓地板面積、新增購置住宅貸款平均貸款成數皆顯著正向影響總移轉面積。而人口自然增率、住宅存量變動率、逾放比則顯著負向影響總移轉面積。平均拍賣價格變動率、核發使用執照樓地板面積、新增購置住宅貸款平均利率、新增購置住宅貸款平均貸款成數皆顯著正向影響買賣移轉面積。而人口自然增率、人口社會增加率、逾放比則顯著負向影響買賣移轉面積。平均拍賣價格變動率、核發使用執照樓地板面積、皆顯著正向影響拍賣移轉面積，而住宅存量變動率則顯著負向影響拍賣移轉面積。

關鍵字

不動產流動性 ； 縱橫資料 ； 隨機效果

並列摘要

This study applies panel data to detect the interaction of real estate price and relative indicators in Taiwan. The quarterly data of real estate information from the first quarter 2008 to third quarter 2010 is made by the Construction and Planning Agency Ministry of the Interior (CPAMI) as a total of 22 counties and cities associated with 242 observations. To analyze the impact of factor in Taiwan’s real estate, mainly related to the impact factor of the sample and the whole metropolitan area , rural areas and areas of high real estate prices and low real estate prices and changes in areas of real estate prices are different factors, and its impact on real estate prices have a stable equilibrium relationship, and significant.
The empirical results show the relevance of higher real estate prices and real estate indicators, the supply side of residential stock in the rate of change, use license issued by floor area; have ownership in the transaction the first time face the registration area, the total transfer of the registration area; in the financial side a new housing loan and the average number of loans into new housing loan average interest rate of six indicators.

並列關鍵字

Real Estate Liquidity ； Panel Data ； Random effect

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