The Lead-lag Relationship between Real Estate Advertisement and House Pricing Index

• Main Authors: LIN, PEI-CHI, 林珮娸
• Other Authors: LIN, CHING-CHUNG
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/97833000324472608579

碩士 === 南臺科技大學 === 國際企業系 === 105 === The subjects of this study were real estate advertisements published in Common Wealth Magazine, BusinessWeek, and Business Today from 2004 to 2016, covering 13 years.The content analysis was used to analyze the amount of real estate advertisements in the chosen magazines, with the purpose of examining changes in advertisements proposed by real estate property developers during the chosen timespan. Vector Autoregression model was also employed to analyze the relationship between the home prices indicesproposed by Cathay Real Estate and the real estate advertisements included in the magazines. The result srevealed that two to three quarters changes in the amount of real estate advertisements, the home prices indices proposed by Cathay Real Estate would be positively affected at a significant level, suggesting that the increasing amount of real estate advertisements denotes the rise of real estate indices in the future. Therefore, real estate advertisements lead the home prices indices. The results serve as an alternative for real estate buyers (investor or individuals buying houses for their own use) to observe the trend in real estate investment.