都市更新計畫對周邊房價影響之外溢效果： 臺灣的實證研究

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張家綺(Jia-Qi Zhang) 查詢紙本館藏

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財務金融學系

論文名稱

都市更新計畫對周邊房價影響之外溢效果：臺灣的實證研究
(The spillover effect of urban renewal on the surrounding housing prices: Evidence in Taiwan)

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摘要(中)

本研究蒐集內政部都更事業自2015年至2018年的都更核定案例，採用每一筆案例周圍200公尺內、曾於2012年8月至2020年8月交易的不動產作為研究樣本，共計22,470筆資料。利用特徵價格模型，並以最小平方法與年份固定效果進行迴歸分析，以分析都市更新計畫對全臺各區域之核定案件周邊房屋價格影響。本研究探討都市更新對周圍房價影響的三項外溢效果：分別為都更核定的宣告效果、核定區域範圍影響的外溢效果、以及都更計畫核定後對附近建築重建選擇權價值的影響。實證結果顯示，就整體都更效果而言，全臺灣、臺北市以及新北市地區，都更計畫核定後會提升周圍房價，亦即有正面的外溢效果。然而，以都更核定件數占比最高的臺北市（69.8%）和新北市 (15.9%) 為例，前者的整體正面外溢效果，主要是來自核定之宣告效果與核定範圍兩者之影響，反之後者之正面效果則是來自提昇周邊建築的重建選擇權價值所導致。由於核定都市更新計畫後對臺灣不同區域之外溢效果並不相同，本研究的政策意涵為，政府可考慮採取相應的都更政策，使臺灣民眾擁有舒適美化的居住環境。

摘要(英)

This study investigates how the approval of urban renewal projects affects the prices of surrounding properties in all regions of Taiwan by using Hedonic pricing models. The sample of this study is drawn from the real housing transaction data between August 2012 and August 2020 published by Taiwan Economic Journal (TEJ), and is limited to those of properties within 200 meters of urban renewal cases approved by the Ministry of Interior from 2015 to 2018. The empirical analysis resulting from employing multiple regression analysis with year fixed effect aims to research the spillover effects of the approval of urban renewal projects on surrounding housing prices, where I consider the separated impacts from (1) the approval of urban renewal projects, (2) the size of the area which has been approved to renew, and (3) how the approval of urban renewal projects effects on the value of the “redevelopment options” of surrounding properties. The empirical results of this study are as follows. First, there exist a positive spillover effect for the whole Taiwan, or for Taipei city or New Taipei city where the housing prices in the surrounding area have increased after the approval of an urban renewal project. Secondly, the detailed spillover effects in Taipei city differ from that of New Taipei city where most and second most renewal projects are developed, respectively. That is, the overall positive spillover effect for Taipei city is mainly from the influence of both the approval of urban renewal projects, and the site size of those projects. By contrary, the overall positive spillover effect in New Taipei city mainly results from the impact that the properties nearby the renewal sites obtaining higher options value of redevelopment after the approval. The policy implication of this study is that the Government may consider adopting different urban renewal policies accordingly, so as to improve both the housing and environmental conditions in Taiwan.

關鍵字(中)

★ 都市更新
★ 特徵價格
★ 外溢效果
★ 都更範圍
★ 重建實質選擇權

關鍵字(英)

★ Urban renewal
★ Hedonic pricing models
★ Spillover effect
★ Urban renewal size
★ Redevelopment options

論文目次

中文摘要 i
ABSTRACT ii
誌謝 iii
目錄 iv
圖目錄 v
表目錄 vi
一、緒論 1
1-1 研究背景與動機 1
1-2 研究目的 2
1-3 論文架構 3
1-4 研究流程 4
二、文獻回顧及研究假設 5
2-1 文獻回顧 5
2-2 研究假說 10
三、樣本資料以及研究方法 13
3-1 樣本資料 13
3-2 變數衡量、定義及實證模型設計 15
3-3 實證模型 21
四、實證結果 26
4-1 敘述統計量 26
4-2 迴歸分析結果 32
五、結論 51
5-1 實證結果討論與結論 51
5-2 穩健性分析與研究建議 54
參考文獻 56

參考文獻

中文文獻：
［1］高伊葦，「都市更新會造成周圍地區住宅價格上漲嗎?-台北市都市更新價格外溢之探討」，國立政治大學，地政學系碩士論文，民國104年。
［2］梁仁旭：都市更新方式外溢效果之比較研究。2009年9月7日，
取自http://ir.lib.pccu.edu.tw/handle/987654321/2138。

英文文獻：
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指導教授

李丹

審核日期

2021-6-30

推文