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http://dx.doi.org/10.5804/LHIJ.2020.11.4.35

A Study on Factors Affecting the Supply of Apartments in Changwon City  

Sung, Joo-Han (창신대학교 부동산금융학과)
Publication Information
Land and Housing Review / v.11, no.4, 2020 , pp. 35-50 More about this Journal
Abstract
The purpose of this study is to examine which factors are important in determining the amount of the apartment supply in Changwon City. Additionally, this study is to examine the changes in the determination of the amount of apartment supply in Changwon by dividing it into before and after 2016 as the city showed a large difference in apartment supply that caused structural changes during this time period. This study shows that the increase in the number of housing construction permits in Changwon before 2016 had a negative impact on the housing market as well as causing a decrease in the supply of apartments in Changwon after 2016. As a result of the shortsighted predictions on the housing market of Changwon from before 2016, it still affects the current housing market as of June 2020. The implication of this study is that through the housing market system of Changwon City, they can take the role as a control tower in Changwon City and propose principles and standards for supply control in order to better predict the demand of the housing market.
Keywords
Changwon City; The Amount of Apartment Supply; Control Tower; VECM; Impact Response Function; Variance Decomposition Analysis;
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