英文摘要
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Major factors that affect the housing market liquidity include housing quality, economical development, location and land use control, etc. In this study we attempted to explore the marginal effects on the change of housing market liquidity due to the change of the land use control. We used samples from housing sells records in Tainan City, Taiwan, and applied the Cox Hazard model to construct the model. Empirical findings concluded that important attributes affecting housing market liquidity include housing building age, living space and the so-called 'atypical housing' measurement suggested by Haurin (1998). We also find that public facilities are significantly affecting the housing market liquidity when the space of facility is larger than 2.5 hectares in Tainan eastern region. On the other hand, increasing the width of the road adjacent to the living housing and changing the neighborhood land use to be commercial use decrease the quality of house living and hence reduce the market liquidity.
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参考文献
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