不動產
2019-08-05
Does Housing Age Influence on the Price of Parking Space in the Same Way of Property Value? -An Evidence from Taichung, Taiwan
Hsien-chi Hsieh、 Ho-wen Yang
 
Abstract:
With the rapid economic growth in Taiwan, the number of cars has grown rapidly, and the demand for parking spaces has increased. The issue of parking spaces has gradually gained attention. As the price of the property is revised downwards as the housing age increases, the parking space is relatively resistant due to the use value of the parking space. Due to the lack of domestic research on the price of parking spaces affected by housing age, the purpose of this study is to collect the actual price registration information of the residential buildings on the 10th to 15th floors of Xitun District, Taichung City in the past five years and to observe whether the influence of housing age on the price of parking space and the influence of housing age on the price of building are the same ?The age of the house in the data and other factors affecting the price of the parking space are treated as independent variables. The independent variables have 8 attributes, using the Hedonic Price Method to clarify the important factors affecting the price of parking space, including housing age and the square of the house age, the type of parking space, the single parking space area, the unit price of building, and floor interval, and the interaction between the single parking space area and the type of parking space, and the interaction between the unit price of building and floor interval, and observing whether the influence of housing age on the price of parking space and the influence of housing age on the price of building are the same? The empirical results show that the six independent variables such as housing age and the square of house age, the type of parking space, the single parking space area, the unit price of building, and the interaction between the single parking space area and the type of parking space have significant impact on the price of parking space. Among the factors affecting the parking space price selected by this study, the influence of the single parking space area is the largest, and the explanatory power of the model is 35.3%.The regression coefficient of housing age is positive, and the regression coefficient of the square of the house age is negative, that is, the influence of housing age on the parking space price is increased first and then decreased, and the parabolic is opening downwards, and the influence of housing age on the residential price is first reduced and then increased, and the parabolic is opening upwards. The parabola is in the opposite direction, shows the strange phenomenon that the price of parking space increases first and then decreases with the increase of housing age. It may be because the parking space is in short supply and the parking space emphasizes its use value, so the price of parking space is relatively resistant to the decline, and even the trend of rising against the trend.
 
Keywords: Hedonic Price Theory, Parking Space Price, Taichung City