Price Increase Ratio Comparison by Type of Housing: Focused on Apartments, Single-Family Houses and Tenement houses

Abstract

Background/Objectives: The purpose of this study is to compare the rate of price increase for each type of apartment, single-family house and tenement house.

Methods/Statistical analysis: For this purpose, we examined the data of apartment, single-family house and tenement houses from January 2000 through the index analysis, numerical analysis and model analysis. As of the end of 2016, in the housing market it accounted apartments for 48.1%, single-family houses 35.3% and tenement houses 2.2%.

Findings: From January 2000(=100) to October 2017, the rate of increase is 245.5% for apartments, 173.1% for town houses and 134.4% for single-family houses. The investment value was in the order of apartments, tenement houses, and single-family houses. In the correlation analysis, the correlation coefficients are 0.773 for apartments and single houses, and 0.760 for apartments and tenement houses. In the regression Analysis, housing purchase price composite indices seem to have influenced the order of apartments, single-family houses and tenement houses. All of the apartments, single-family houses and tenement houses were statistically significant at t-statistic and p-value(≤0.001). In scatter charts analysis, compared with HPPCI, APT, HOU and TENE have a high degree of dispersion overall, showing high dynamic performance. In Quantile-Quantile Plot analysis, there are a lot of point(∘) showing temporary fluctuation at the top and bottom of apartment, single-family house and tenement houses. The housing market has changed a lot over the past 214 months.

Improvements/Applications: There is a very high correlation between single-family houses and tenement houses at 0.865. Apartments, single-family houses and tenement houses showed a very high degree of co-existence with a slight difference.

Keywords: By type of Housing, Price Increase Rate, Apartment, Single-family House, Tenement house