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| Title: | 不動產估價師估值調整與市場認知差異之研究-以都市更新權利變換個案為例
Differences between Appraisers' Value Adjustments and Market Cognition: A Case Study of Urban Renewal |
| Authors: | 孔為亮
Kung, Wei-Liang |
| Contributors: | 陳奉瑤
梁仁旭
Chen, Fong-Yao
Laing, Jen-Hsu
孔為亮
Kung, Wei-Liang |
| Keywords: | 不動產估價師
市場特徵價格模型
個案研究法
調整率
權利變換
Appraisers
A case study approach
Hedonic price model
Factor adjustments
Right transfer of urban renewal |
| Date: | 2024 |
| Issue Date: | 2024-07-01 13:29:34 (UTC+8) |
| Abstract: | 不動產估價之研究多著眼於不動產估價行為，而差異估價基礎假說即為其中之一，係指估價師與市場可能會有不同的估價基礎，於不同的立場下有不同的價格認知而造成估值與市場價格產生差異。本研究認為前述理論可能發生於權利變換估價，因權利變換估價為確保客觀公平性，須遵循都市更新法律和通過審議會之評估，但於權利變換之估價目的為正常價格之情況下，應具市場性並於有意願買賣雙方下形成。然實際上權利變換估值與市場價格具有落差，排除時間因素後，其差異是否存有估價師追求客觀公平性，而對價值影響因素與市場有不同評價之情形，值得探討，且依照估價目的之價格種類，考量市場面之認知，似乎顯得重要。
本研究透過個案研究法排除區域因素之影響，並採特徵價格模型建立市場對於價值影響因素之權重，分別比較相同個案條件下，估價師與市場對於價值影響因素之認知差異。此外，引用過去文獻相同個案之代銷研究結果延伸比較估價師、代銷和市場之認知差異，予以歸納分析。結果發現，估價師、代銷與市場存有認知差異，發生於垂直調整之樓層別效用比、四樓和頂樓以及水平調整之面積、位置、通風採光和其他影響上。同時，驗證過去文獻指出不同區域上存有不同的價值影響因素認知，如：垂直調整之樓層別效用比、四樓和頂樓，以及水平調整之面積和其他影響上，但亦有相似的價值影響因素認知，如：通風採光和位置之影響，亦驗證鄰避與迎毗設施縮小主體間認知差異之情形，並發現不同交易時機（預售屋和成屋）擴大了主體間之認知差異。
Research on real estate appraisal often focuses on appraisal behaviors, with the Different-Base-of-Valuation Hypothesis being one of them. This hypothesis suggests that appraisers and the market may have different valuation bases, leading to discrepancies between appraised values and market prices. This study explores this theory in the context of rights transformation appraisals, which must adhere to urban renewal laws and pass evaluation committee assessments to ensure fairness. Despite this, rights transformation appraisals intended to reflect market conditions often differ from actual market prices. After excluding the time factor, this study investigates whether these discrepancies arise because appraisers, in their pursuit of objectivity, evaluate value-affecting factors differently than the market. Considering market cognition according to the type of price for the appraisal purpose is also crucial.
Using a case study approach, this research excludes regional influences and utilizes a hedonic pricing model to establish the weights of value-affecting factors according to the market and compare these with appraisers' adjustment rates. It also references past literature to extend the comparison to include pre-sellers. The findings reveal cognitive differences among appraisers, pre-sellers, and the market, particularly in vertical adjustments (e.g., utility ratio among floors, utility for the fourth and top floors) and horizontal adjustments (e.g., area, location, ventilation, lighting). Additionally, the study confirms regional differences in cognitive factors identified in previous research, such as utility ratio among floors and area adjustments. Similar cognitive factors were found, such as the effects of ventilation, lighting, and location. The study also verifies that NIMBY and YIMBY facilities reduce cognitive differences among subjects and finds that different transaction timings (pre-sale vs. completed properties) expand cognitive differences among subjects. |
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| Description: | 碩士
國立政治大學
地政學系
111257028 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0111257028 |
| Data Type: | thesis |
| Appears in Collections: | [地政學系] 學位論文
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