A Discussion of the Depreciation Path on Land-price-extracted Condition

碩士 === 國立臺北大學 === 不動產與城鄉環境學系 === 101 === The Cost Approach is one of the three major approaches to value. Although the Sales Comparison Approach is applied in principle in sales transaction frequently market, the Cost Approach is still necessary for value check. Besides, we must rely on the Cost...

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Main Authors: Hsieh, Hsin-Hung, 謝炘宏
Other Authors: You, Shih-Ming
Format: Others
Language:zh-TW
Published: 2013
Online Access:http://ndltd.ncl.edu.tw/handle/38929567264995863010
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spelling ndltd-TW-101NTPU01330072016-03-21T04:27:03Z http://ndltd.ncl.edu.tw/handle/38929567264995863010 A Discussion of the Depreciation Path on Land-price-extracted Condition 房地分離下建物折舊路徑之探討 Hsieh, Hsin-Hung 謝炘宏 碩士 國立臺北大學 不動產與城鄉環境學系 101 The Cost Approach is one of the three major approaches to value. Although the Sales Comparison Approach is applied in principle in sales transaction frequently market, the Cost Approach is still necessary for value check. Besides, we must rely on the Cost Approach when there is no sale or rental transaction. The accrued depreciation is vital in the process of cost value appraisal. The depreciation, the main factor affecting the value loss of property, involves lots of complicated proceeding. However, due to the difficulty to uncouple the land and building value, the problem that land should not have physical deterioration and functional obsolescence is inevitably ignored and might lead to miscalculation of depreciation. Using 876 transaction data of improved property, this paper extracts the land value applying appraisal methods; followed by multiple regressions with dependent variable on the value of building. Considering spatial autocorrelation might occur in real estate prices according to past literatures; hence, we use Spatial Autoregression Model to solve this problem. The empirical outcome shows the depreciation path is convex, similar to Fixed-Percentage method and The Sum of Years Digits method. In addition, the depreciation rate for building is higher(2.10%>1.04%) compare to depreciation of improved property. Spatial Error Model(SEM) is better than Ordinary Least Squares Estimator(OLS)。 You, Shih-Ming Chen, Kwo-Hwa 游適銘 陳國華 2013 學位論文 ; thesis 68 zh-TW
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description 碩士 === 國立臺北大學 === 不動產與城鄉環境學系 === 101 === The Cost Approach is one of the three major approaches to value. Although the Sales Comparison Approach is applied in principle in sales transaction frequently market, the Cost Approach is still necessary for value check. Besides, we must rely on the Cost Approach when there is no sale or rental transaction. The accrued depreciation is vital in the process of cost value appraisal. The depreciation, the main factor affecting the value loss of property, involves lots of complicated proceeding. However, due to the difficulty to uncouple the land and building value, the problem that land should not have physical deterioration and functional obsolescence is inevitably ignored and might lead to miscalculation of depreciation. Using 876 transaction data of improved property, this paper extracts the land value applying appraisal methods; followed by multiple regressions with dependent variable on the value of building. Considering spatial autocorrelation might occur in real estate prices according to past literatures; hence, we use Spatial Autoregression Model to solve this problem. The empirical outcome shows the depreciation path is convex, similar to Fixed-Percentage method and The Sum of Years Digits method. In addition, the depreciation rate for building is higher(2.10%>1.04%) compare to depreciation of improved property. Spatial Error Model(SEM) is better than Ordinary Least Squares Estimator(OLS)。
author2 You, Shih-Ming
author_facet You, Shih-Ming
Hsieh, Hsin-Hung
謝炘宏
author Hsieh, Hsin-Hung
謝炘宏
spellingShingle Hsieh, Hsin-Hung
謝炘宏
A Discussion of the Depreciation Path on Land-price-extracted Condition
author_sort Hsieh, Hsin-Hung
title A Discussion of the Depreciation Path on Land-price-extracted Condition
title_short A Discussion of the Depreciation Path on Land-price-extracted Condition
title_full A Discussion of the Depreciation Path on Land-price-extracted Condition
title_fullStr A Discussion of the Depreciation Path on Land-price-extracted Condition
title_full_unstemmed A Discussion of the Depreciation Path on Land-price-extracted Condition
title_sort discussion of the depreciation path on land-price-extracted condition
publishDate 2013
url http://ndltd.ncl.edu.tw/handle/38929567264995863010
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