Journal of the Korea Institute of Building Construction (한국건축시공학회지)

The Korean Institute of Building Construction (한국건축시공학회)
권호 표지
DOI QR코드

DOI QR Code

Analysis of Short-Term Impact of Tax Policy on Housing Purchase Price in Small and Medium-sized Cities in Korea

세금정책이 중소도시의 공동주택 매매가격에 미치는 단기 영향분석

  • Oh, Kwon-Young (Department of Architectural Engineering, Hanbat University) ;
  • Jeong, Jin-Won (Department of Architectural Engineering, Hanbat University) ;
  • Lee, Donghoon (Department of Architectural Engineering, Hanbat University)
  • Received : 2021.12.29
  • Accepted : 2022.02.03
  • Published : 2022.02.20
Download PDF
⟨ Previous Next ⟩

Abstract

With apartment purchase prices rising, small and medium-sized cities have been highlighted as areas in which real estate speculation is overheated, and thus designated as target districts for adjustment. In addition, tax policy is constantly being adjusted in an attempt to stabilize real estate prices. The purpose of this study is to analyze the basic effect of tax policy on the purchase price of apartments in small and medium-sized cities. This study selected apartments in the Daejeon area that were constructed between 1990 and 2015. In addition, tax policy was divided into regulatory policy and easing policy based on tax increase and tax cut. This study analyzes the short-term difference of one year before and after the change in the purchase price of apartment houses. In addition, this study set the time when real estate policy was implemented and the actual transaction price of apartments in Daejeon as the analysis targets, and analyzed the correlation between tax policy and apartment sales prices through the NPV technique and T-test results. Through the study, it was found that most tax policies changed apartment purchase prices in the short term.

전국 공동주택 매매가격이 상승하고 중소도시 지역이 투기과열지구 및 조정대상지역 으로 선정되었다. 그리고 세금정책은 부동산 가격안정화를 위해 꾸준히 변화 되고 있다. 본 연구는 세금정책이 중소도시 공동주택 매매가격에 미치는 영향에 대한 기초적인 분석을 목적으로 한다. 본 연구는 준공년도가 1990년 이후 2015년 이전의 대전지역 공동주택을 선정하였다. 또한 세금정책을 증세와 감세를 기준으로 하여 규제정책과 완화정책으로 나누어 공동주택 매매가격 변동에 대하여 전후 1년의 단기적 차이를 분석한다. 또한 본 연구는 부동산 정책이 발현된 시점과 대전지역 공동주택 실거래가를 분석 대상으로 설정하였고, NPV 기법 및 T-Test 결과를 통해서 세금정책과 공동주택 매매가격의 상관관계를 분석하였다. 연구의 결과 대부분의 세금정책 발현시점에서 단기적으로는 공동주택 매매가격의 변화를 확인할 수 있었다.

Keywords

Acknowledgement

This research was supported by the research fund of Hanbat National University in 2021.

References

  1. Oh JS. A study on the categorization and evaluation of real estate policy in Korea - With the emphasis of housing policy. Koreanstudies Information Service System. 2005 Sept;17(3):51-60.
  2. monthly_sales price index comprehensive [Internet]. Korea Real Estate Agency: 2021- [cited 2021 Jun]. Available from: https://www.reb.or.kr/r-one/statistics/statisticsViewer.do?menuId=HOUSE_21111
  3. Im HS, Lee HD. Impact analysis on the market of the participatory government real estate policy by contents analysis. Residential Environment Institute of Korea. 2008 Dec;12:61-76.
  4. Noh JH, Han SH, Kim BS, Ko H, Kwon YH, Kim JJ. A effect analysis of the housing policy on the housing price. Proceedings of the Korean Institute Of Construction Engineering and Management; 2006 Nov 01; Seoul, Korea. Seoul (Korea): Korean Institute Construction Engineering and Management. 2006. p. 665-8.
  5. Jang JH, Nam J. A study on the time-series analysis of the relationship with real estate purchase price and taxes related with real estate. Proceedings of Korea Planning Association. 2006 Nov 03; Wonju, Korea. Seoul (Korea): Korea Planning Association. 2006. p. 957-65.
  6. Choi CS. A study on the effect of the real estate policy on the real estate market. Korea Real Estate Society 2010 Dec;10(28):69-91.