| Title |
A Study on Relationship between House Rental Price and Macroeconomic Variables |
| Authors |
Kim, Hyun-Woo ; Chin, Kyung-Ho ; Lee, Kyo-Sun |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2012.13.2.128 |
| Keywords |
House Rental Price ; Macroeconomic Variables ; Ordinary Least Squares Estimation(OLS) ; Time Series Data |
| Abstract |
In this study, we investigated the macroeconomic variables that affect housing prices thus creating a large impact on people’s lives as well as the real estate market. For the study, the macroeconomic variables able to influence the House Rental Price (housing price by lease or deposit) were used for an analysis as follows: housing sales price index, household loans rate, total household savings, the number of employees and a multiple regression analysis was performed using a time series for each macroeconomic variable. As a result of the analysis, the House Rental Price was affected by all of four macroeconomic variables. The House Rental Price increased as each variable enlarged. In conclusion, this study may be useful for finding a solution for stabilizing the House Rental Price as well as for the establishment of efficient and sustainable policies for the housing market. |