APC모형에 기초한 아파트 가격의 건축연령 효과 추정

초록

Redevelopment and reconstruction have been restrained despite the construction of new condominiums with improved quality in developed urban area. Due to limitations on the building age, its increases in the reconstruction requirements have affected condominium prices. By using the APC(Age- Period-Cohort) model, this study estimated the effect of building age on condominium prices when the quality of housing was controlled. An empirical analysis was conducted by dividing Seoul into two, north and south of the Han river. Results revealed that the construction year cohort effect exists, and that price increases have occurred corresponding to the quality standard requirements increasing around the 2000s. This is thought to have resulted from an imbalance in the supply and demand of high-quality housing. Therefore, this can be solved by supplying better quality housing through the reconstruction project. Also, Because of different patterns of building age effect by region, building age limitations should be flexible in different regions.

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