정부의 부동산 대책이 아파트 가격에 미친 영향 -2018년 9.13 종합부동산세 강화를 중심으로-

종부세 강화 대책이 아파트 가격에 미친 영향을 분석했다.

This study analyzed the relative impact of the ratio of multi-homeowners on high housing prices for a year before and after the announcement of comprehensive real estate tax reinforcement measures among reinforced real estate measures in 2018 using double difference analysis based on the hedonic model. The real estate market has always been volatile under the influence of government measures. Among the real estate measures announced on September 13, 2018, the strengthening of the comprehensive real estate tax is considered a particularly significant case.

This measure significantly raised the comprehensive real estate tax rate for the purpose of suppressing speculation and stabilizing housing prices. The central interest of this study is how these changes in real estate measures have substantially affected multi-homeowners and how they have brought about changes in housing prices. Using the time of application of real estate measures, this study analyzes apartment complexes and low apartment complexes estimated to have a high proportion of multi-homeowners among apartment complexes with more than 1,000 households based on monthly rent transactions between 17 and 2018. As a research method, the double difference method using STATA was used.

As a result of the analysis, housing prices fell in complexes estimated to have a high proportion of multi-homeowners. In particular, since the first quarter of 2019, changes in apartment sales prices have been evident due to measures. In other words, the government's real estate measures showed the effect of suppressing the rise in sales prices of apartment complexes with a high proportion of multi-homeowners during the first and second quarters of 2019, but they were temporary.