現在位置首頁 > 博碩士論文 > 詳目
  • 同意授權
論文中文名稱:The Determinants of Housing Purchase Decision in Taiwan [以論文名稱查詢館藏系統]
論文英文名稱:The Determinants of Housing Purchase Decision in Taiwan [以論文名稱查詢館藏系統]
院校名稱:臺北科技大學
學院名稱:管理學院
系所名稱:管理國際學生碩士專班 (IMBA)
畢業學年度:103
畢業學期:第二學期
出版年度:104
中文姓名:陳仙梅
英文姓名:Silviana Puspa Dewi
研究生學號:102988013
學位類別:碩士
口試日期:2015/06/22
指導教授中文名:林鳳儀
口試委員中文名:劉芬美;汪進揚
中文關鍵詞:housinghomeownershippurchase decisionaffordabilityTaiwanregression
英文關鍵詞:housing
論文中文摘要:Taiwan high housing Price – Income Ratio (PIR) creates housing affordability issue, where income raises cannot compete with house price. But the high homeownership rates in Taiwan arises such question as why and how Taiwanese people still purchase a house despite of the rocketing price. Using a survey data from Housing Demand Survey in Taiwan, this research examines the determinants of housing purchase decision of housing buyer and future buyer in Taiwan.
The research is conducted using regression model to find relationship of housing purchase decision, represented by respondents’ house price choice, with socio-economic and demographic background of the respondents. It is found that an individual’s self-perceived range of housing options when purchasing a house is dependent not only on his/her current and predictable economic and financial resources, but also on his/her occupation and socio-demographic characteristic and preferences.
The empirical findings reporting here help to deepen the understanding of the housing purchase decision in Taiwan, and other countries with high PIR and homeownership rates.
論文英文摘要:Taiwan high housing Price – Income Ratio (PIR) creates housing affordability issue, where income raises cannot compete with house price. But the high homeownership rates in Taiwan arises such question as why and how Taiwanese people still purchase a house despite of the rocketing price. Using a survey data from Housing Demand Survey in Taiwan, this research examines the determinants of housing purchase decision of housing buyer and future buyer in Taiwan.
The research is conducted using regression model to find relationship of housing purchase decision, represented by respondents’ house price choice, with socio-economic and demographic background of the respondents. It is found that an individual’s self-perceived range of housing options when purchasing a house is dependent not only on his/her current and predictable economic and financial resources, but also on his/her occupation and socio-demographic characteristic and preferences.
The empirical findings reporting here help to deepen the understanding of the housing purchase decision in Taiwan, and other countries with high PIR and homeownership rates.
論文目次:Table of Contents

ABSTRACT i
ACKNOWLEDGEMENTS ii
Table of Contents iii
List of Tables v
List of Figures and Graphs vi
Chapter 1 Introduction 1
1.1 Research Background 1
1.2 Motivation 2
1.3 Objectives 3
1.4 Research Structure 4
1.5 Study Structure 5
Chapter 2 Taiwan Housing Market 6
2.1 Taiwan Housing Demand 6
2.2 Taiwan Housing Price 9
2.3 Taiwan Housing Policy 12
2.3.1 Government Housing Subsidy Program 12
Chapter 3 Literature Review 16
3.1 Housing Affordability 16
3.1.1 Measuring Housing Affordability 16
3.1.2 Taiwan Housing Affordability 18
3.2 Determinant Factors of Homeownership 21
3.2.1 Financing Factors 22
A. Income and Permanent Income 22
B Liquidity to Homeownership 23
3.2.2 Socioeconomic and Demographic Factors 23
a. Age of Household Head 24
b. Education and Occupation 24
c. Gender of Household Head 25
d. Marital Status 25
e. Parental Homeownership 26
f. Family Size and Structure 26
3.2.3 Demographic Variables and Housing Preference 26
Chapter 4 Research Methodology 28
4.1 Data Source 28
4.3 Regression Model 32
4.3.1 Income Regression Model 33
4.3.2 Regression Model of Housing Purchase Decision Factors 36
Chapter 5 Empirical Findings and Analysis 39
5.1 Data and Statistic Descriptions 39
5.1.1 Data Percentage Details 42
5.2 Income Regression to Estimate Permanent Income 45
5.3 Affordability House Price Choice Regression to determine Housing Buying Decision 49
Chapter 6 Discussion and Conclusions 58
6.1 Finding and Discussion 58
6.2 Implications 60
6.3 Research Limitations and Suggestions 61
References 62
APPENDIXES 67
Appendix A 67
Appendix B 69
論文參考文獻:References
Abeysinghe, T. and Gu, J.Y. (2010) Lifetime income and housing affordability in Singapore, Urban Studies, 48(9), pp. 1875-1891.
ADB (Asia Development Bank) (2010) The rise of Asia’s middle class, in: Asia Development Bank (Ed.) Key Indicators for Asia and the Pacific 2010, Special Chapter. Metro Manila, Philippines: ADB.
Bertaud, A. (2009) Housing affordability in China: a stock and flow approach. Paper presented at The Symposium on Low-income Housing in China, Beijing University, July.
Bourassa, S. C, and Yin, M. (2006) Housing tenure choice in Australia and the United States: impacts of alternative subsidy policies, Real Estate Economics, 34(2), pp. 303-328.
Bourassa, S. C. and Peng, C. W. (2010) Why is Taiwan’s homeownership rate so high?,Urban Studies, 48(13), pp. 2887-2904.
Bourassa, S. C., (1995). A Model of Housing Tenure Choice in Australia,Journal of Urban Economics, Elsevier, vol. 37(2), pages 161-175, March.
Brown, W. M. and Lafrance, A. (2014) Trends in Homeownership by Age and Household Income: Factors Associated with the Decision to Own. Economic Analysis Research Paper Series, Canada.
Chen, J. M. and Chen, L. R. (2011) Housing Policy and Social Housing in Taiwan, International Housing and Construction Conference and Exhibition 2011.
Chen, M. C., Tsai, I. C., and Chang, C. O. (2007) House prices and household income: do they move apart? Evidence from Taiwan, Habitat International, 31, pp. 243-256.
Chou, Y. C. and Wang, Y. Y. (2004) Taiwanese housing policies from authoritarian to democratic: Possible effects of new housing policies, International Conference: Adequate and Affordable Housing for All. Centre for Urban and Community Studies, University of Toronto.
Demographia International, 2014. http://www.demographia.com/.
Diaz-Serrano, L. (2005) Labor income uncertainty, skewness and homeownership: a panel data study for Germany and Spain, Journal of Urban Economics, 58(1), pp. 156-176.
Disalvo, P. and Ermish, J. (1997) Analysis of the Dinamics of Housing Tenure Choice in Britain, Journal of Urban Economics, 42, pp. 1-17.
Dusansky, R. and Koc, Cagatay (2006) The Capital Gain Effects in The Demand of Housing, Journal of Urban Economics, 61, pp. 287-298.
Executive Yuan, (2013) National Statistic: Statistic from Statistical Bureau, The Survey of Family Income and Expenditure. http://eng.stat.gov.tw/np.asp?CtNode=1542.
Fisher, L. M. and Jaffe, A. J. (2003) Determinants of International Home Ownership Rates. Housing Finance International, September, 2003.
Fu, Y. (1995) Uncertainty, next term liquidity, and housing choices, Regional Science and Urban Economics, 25(2), pp. 223-236.
Gans, J. and King, S. (2004) The housing lifeline: a housing affordability policy, Agenda, 11, pp. 143-155.
Gathergood, J. (2009) Income uncertainty, house price uncertainty, and the transition into homeownership in the United Kingdom. Working Paper 09/07, Centre for Finance and Credit Markets.
Goodman, A. C. (1988) An Econometric Model of Housing Price, Permanent Income, Tenure Choice, and Housing Demand, Journal of Urban Economics, 23, pp. 327-353.
Groves, R., Murie, A., and Watson, C, (2007) Housing and the New Welfare State: Perspectives from East Asia and Europe. Aldershot: Ashgate.
Gyourko, J. and Linneman, P. (1996) Analysis of The Changing Influences on Traditional Households, Ownership Patterns, Journal of Urban Economics, 39, pp. 318-341.
Hancock, K. E. (1993) ‘Can pay? Won’t pay?’ or economic principles of ‘affordability’, Urban Studies, 30(1), pp. 127-145.
Haurin, D. R., Hendershott, P. H., Kim, D. (1994) Housing Decisions of American Youth, Journal of Urban Economics, Elsevier, vol 35(1), pp. 28-45.
Haurin, D. R., Hendershott, P. H., Ling, D. C. (1987) Homeownership Rates of Married Couples: An Econometric Investigation, NBER Working Papers 2305, National Bureau of Economic Research. Inc.
Hood, J. K. (1999) The Determinants of Homeownership: An Application of Human Capital Investment Theory to The Home Ownership Decision, The Park Place Economist, vol. VII.
Housing Demand Survey for Third Quarter 2012, The Institute for Phusical Planning and Information, http://www.ippi.org.tw/zh/researchresults/rr_detail.aspx?No=34.
Hsueh, L.–M. and Chen, H.-L. (1999) An analysis of home-ownership rate changes in Taiwan in the 1980s, Asian Economic Journal, 13(4), pp. 367-388.
Hulchanski, D. J. (1995) The concept of housing affordability: six contemporary uses of the housing expenditure-to-income ratio, Housing Studies, 10(4), pp. 471-492.
JLL (Jones Lang Lasalle) (2014) Taipei Property Market Snapshot 1Q14, On Point, Taipei, Taiwan, http://www.joneslanglasalle.com.tw.
Kang, H. H and Liu, S. B. (2014) The impact of the 2008 financial crisis on housing prices in China and Taiwan: A quintile regression analysis, Economic Modelling, 42, pp. 356-362.
Kutty, N. K. (2010) A new measure of housing affordability: estimates and analytical results, Housing Policy Debate, 16(1), pp. 113-142.
Kwong, H. Y. F. (1995) Housing for the middle income group: sandwich class housing loan scheme (1993). MA thesis, University of Hong Kong.
Lau, K. M. and Li, S. M. (2006) Commercial housing affordability in Beijing, 1992-2002. Habitat International, 30, pp. 614-627.
Lerman, D. L. and Reeder, W. J. (1987) The affordability of adequate housing, AREUEA Journal, 15, pp. 389-404.
Li, S. M. and Yi, Z. (2007) Financing home purchase in China, with special reference to Guangzhou, Housing Studies, 22(3), pp. 409-425.
Li, S., Whalley, J., Zhao, X. (2013) Housing price and household savings rates: evidence from China. J. Chin. Econ. Bus. Stud. 11(3), pp. 197-217.
Lin, Y.-J., Chang, C.-O., Chen, C. L. (2014) Why homebuyers have a high housing affordability problem: Quantile regression analysis, Habitat International, 43, pp. 41-47.
Linneman, P. D. and Megbolugbe, I. F. (1992) Housing affordability: myth or reality?,Urban Studies, 29(3), pp. 369-392.
Long, J. S. and Freese, J. (2006) Regression Models for Categorical Dependent Variables Using Stata, 2ndedn. College Station, TX: Stata Press.
Lu, H. C. and Chen, M. S. (2006) Cultural Norms? Investigating the High Homeownership in Taiwan.
Memery, C. (2001) The housing system and the Geltic Tiger: The state response to a housing crisis of affordability and access, European Journal of Housing Policy, 1(1), pp. 79-104.
Naga, R.A., and Burgess, R. (2001) Prediction and Determination of Household Permanent Income, University of Lausanne DEEP Working Paper 9705, October, 2001.
Quigley, J. M. and Raphael, S. (2004) Is housing unaffordable? Why isn’t it more affordable?, Journal of Economic Perspectives, 18, pp. 191-214.
RICS (Royal Institution of Chartered Surveyours) (2011) RICS housing research: 30% of Hong Kong households are sandwich class who may not afford to buy private housing. RICS Asia, Hong Kong (http://www.ricsasia.org/newsDetail.php? id=305&regionID=0).
Ronald, R. (2007) Comparing homeowner societies: can we construct an east-west model?, Housing Studies, 22(4), pp. 473-493.
Thalmann, P. (1999) Identifying households which need housing assistance, Urban Studies, 11, pp. 1933-1947.
Tsai, I.-C. and Peng, C.-W. (2011) Bubbles in the Taiwan housing market: The determinants and effects, Habitat International, 35, pp. 379-390.
Wei, S.-J., Zhang, X. and Liu, Y. (2012) Status competition and housing prices: some evidence from China. Working Paper No. 18000, National Bureau of Economic Research, Cambridge, MA.
Yang, L. P. (2004) Credit culture: consumers lead the way as buying houses and cars through bank loans becomes a way of life, Beijing Review, 2004(48). Available at http://www.bjreview.com.cn/200448/ Nation-200448(A).htm.
Yang, Z. and Wang, S. (2011) The impact of privatization of public housing on housing affordability in Beijing: an assessment using household survey data, Local Economy, 26(5), pp. 384-400.
Ying, Q., Luo, D. L., and Chen, J. (2012) The determinants of homeownership affordability among the ‘Sandwich Class’: empirical findings from Guangzhou, China, Urban Studies, 50(9), pp. 1870-1888.
Zheng, S., Fu, Y. and Liu, H. (2006) Housing-choice hindrances and urban spatial structure: evidence from matched location and location-preference data in Chinese cities, Journal of Urban Economics, 60(3), pp. 535-557
論文全文使用權限:同意授權於2015-07-07起公開