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題名:不動產價值逆折舊之探討
書刊名:住宅學報
作者:梁仁旭
作者(外文):Liang, Jen-hsu
出版日期:2012
卷期:21:2
頁次:頁71-89
主題關鍵詞:折舊再開發價值特徵價格模型DepreciationRedevelopment valueHedonic price model
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(4) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:3
  • 共同引用共同引用:16
  • 點閱點閱:143
折舊係指資產價值隨時間經過而降低者;於不動產市場中普遍認知,因建築物發生實質毀損致使不動產價值呈現遞減趨勢。折舊之相關實證研究中,許多研究以屋齡及屋齡平方為自變數進行迴歸分析,兩者之係數往往達顯著性水準,顯示不動產價值在建築物耐用年數期間呈現價值先降後升的逆折舊現象,致使不動產價值遞減的折舊觀點受到質疑。本文以台北市房地產交易價格與租金資料進行複迴歸分析,於分別建立價格模型與租金模型後,自不動產交易價格中分離出使用價值與再開發價值,進行屋齡效果分析。研究發現不動產價值逆折舊現象,導因於不動產使用價值與土地再開發價值的交互作用,致呈現先降後升之現象。
Depreciation reflects the decline in an asset's value over time. The value of real estate will decrease gradually due to the building's physical deterioration. Most empirical studies thus adopt age and age-squared as proxies to measure depreciation, and the variables are often statistically significant. The empirical results suggest that there exists an upturn in the value of a property following a period of falling values over the property's economic life. Doubt is therefore cast on the conventional belief of a downward-only trend in property value. This article adopts multi-regression analysis to examine the pattern of use value and the redevelopment value of properties in Taipei City. The results show that the reversion of real property depreciation is due to the interaction of use value and redevelopment value. Therefore, a higher building age might yield a greater land redevelopment value.
期刊論文
1.Hulten, C. R.、Wykoff, F. C.(1981)。The Estimation of Economic Depreciation Using Vintage Asset Prices: An Application of the Box-Cox Power Transformation。Journal of Econometrics,15(3),367-396。  new window
2.曾建穎、張金鶚、花敬群(20051200)。不同空間、時間住宅租金與其房價關聯性之研究--臺北地區之實證現象分析。住宅學報,14(2),27-49。new window  延伸查詢new window
3.Sirmans, G. Stacy、Macpherson, David A.、Zietz, Emily N.(2005)。The Composition of Hedonic Pricing Models。Journal of Real Estate Literature,13(1),3-43。  new window
其他
1.Asabere, P. K. & Huffman, F. E.(1991)。Historic Districts and Land Values。  new window
2.Baum, A.(1991)。Property Investment Depreciation and Obsolescence。  new window
3.Cannaday, R. E. & Sunderman, M. A.(1986)。Estimation of Depreciation of Single-family Appraisals。  new window
4.Clapp, J. M. & Giaccotto, C.(1998)。Residential Hedonic Models: A Rational Expectations Approach to Age Effect。  new window
5.Clapp, J. M. & Salavei, K.(2010)。Hedonic Pricing with Redevelopment Options: A New Approach to Estimating Depreciation Effects。  new window
6.Coulson, N. E. & McMillen, D. P.(2008)。Estimating Time, Age and Vintage Effects in Housing Prices。  new window
7.Dunse, N. & Jones, C.(2005)。Rental Depreciation, Obsolescence and Location: The Case of Industrial Properties。  new window
8.Fisher, J. D., Smith, B. C., Stern, J. J. & Webb, R. B.(2005)。Analysis of Economic Depreciation for Multi-family Property。  new window
9.Goodman, A. C. & Thibodeau, T. G.(1995)。Age-related Heteroskedasticity in Hedonic Price Equations。  new window
10.Goodman, A. C. & Thibodeau, T. G.(1997)。Age-related Heteroskedasticity in Hedonic Price Equations: An Extension。  new window
11.Lee, B. S., Chung, E. C. & Kim, Y. H.(2005)。Dwelling Age, Redevelopment, and Housing Prices: The Case of Apartment Complexes in Seoul。  new window
12.Malpezzi, S., Ozanne, L. & Thibodeau, T. G.(1987)。Microeconomic Estimates of Housing Depreciation。  new window
13.Randolph, W. C.(1988)。Estimation of Housing Depreciation: Short-term Quality Change and Long-term Vintage Effects。  new window
14.Rubin, G. M.(1993)。Is Housing Age a Commodity? Hedonic Price Estimates of Unit Age。  new window
15.Salway, F.(1986)。Depreciation of Commercial Property。  new window
16.Samuelson, P. A.(1964)。Tax Deductibility of Economic Depreciation to Insure Invariant Valuations。  new window
17.Smith, B. C.(2004)。Economic Depreciation of Residential Real Estate: Microlevel Space and Time Analysis。  new window
18.Wilhelmsson, M.(2008)。House Price Depreciation Rates and Level of Maintenance。  new window
 
 
 
 
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