A Research of Housing Market Prices and Court Auction House Prices Applying Spatial Statistics Method-Example Taichung City

• Main Authors: Wen-ChI Huang, 黃文奇
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/78601915271822655855

碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 94 === The continuous decline in macro-economic conditions has contributed to a slump in real estate market cycle. As a result, there has been a steady increase in mortgage arrears. A large number of mortgage arrears have been released to the court auction housing market. Spatial parameters of data proposed by Pace and Gilley (1997) are used to improve the Simultaneous Autoregression Model (SAR Model for short) of estimated results and enhance accuracy of appraisals for an empirical study in this research. . Information on court auction houses determined by Taichung District Court from the first quarter of 2004 to the forth quarter of 2005 is collected. There are 423 court auction houses located in Taichung City; however, information from Department of Land Administration, Ministry of the Interior showed there were 1096 house transactions at market prices in the same area. The actual transaction prices of concluded real estate announced by Department of Land Administration, M. O. I. and real prices of court auction houses in the same period are served as dependent variables. Independent variables that may affect court auction houses are selected for regression analysis based on SAR to prove that court auction houses indeed have lower bid prices relatively. In the SAR model, main results are found (1)Prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 40.55% on average.(2)Middle district. East district.. South district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 38.74%.(3)West district. .North district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 30.23%.(4) Bei-Tewn district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 47.27% .(5)Cei-Tewn district.. Ann-Tewn district. prices of court auction houses are lower than those of general real estate transactions at market prices via house agents by about 36.87%