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研究生： 徐鈺翔
Hsu, Yu-Hsiang
論文名稱： 萬華群聚感染事件是否影響萬華區房價? 雙重差分的實證分析
Does the Wanhua Cluster Infection Incident Affect Housing Prices in Wanhua District? Empirical Analysis Using Difference-in-Differences
指導教授： 林世昌
Lin, Eric S.
口試委員: 林惠玲
Lin, Hui-Ling
陳正倉
Chen, Zheng-Cang
林建甫
Lin, Jian-Fu
學位類別： 碩士
Master
系所名稱： 科技管理學院 - 高階經營管理雙聯碩士學位學程
NTHU-UTA Dual EMBA Degree Program
論文出版年： 2023
畢業學年度： 111
語文別： 英文
論文頁數： 45
中文關鍵詞： 房價 、COVID-19 、疫情 、差異差分析 、物業類型 、台北市房地產 、萬華區
外文關鍵詞： Housing price, COVID-19, pandemic, Difference-in-Difference analysis, property type, Taipei City housing, Wanhua District
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    This research paper’s goal is to investigate the causal effect of the May 2021 COVID-19 outbreak on housing prices in Wanhua district in Taipei City, Taiwan. By utilizing Difference-in-Differences analysis, the research compared the changes in housing prices in Wanhua district to other districts in Taipei. This study utilizes data of all actual housing sales transactions from 2012 to 2022. It will determine the effect of government policies, media coverage, and public perception on the housing prices in Wanhua after the May 2021 outbreak.
    The analysis shows that there are different effects of the pandemic on housing prices for each type of property. Type 1 (above 10 stories with elevators) shows a statistically significant increase in housing prices, while Type 3 (under 5 stories with no elevators) shows a significant decrease. Type 5 (studio apartments) and Type 9 (under 10 stories with elevators) shows no statistically significant change. The findings shows that each type of property has a distinct effect from the COVID-19 outbreak, showing Type 1 and Type 3 as the most affected. The result suggests that there may be varying effects of the pandemic on different types of properties.
    Overall, this study provides insights into the impact of the COVID-19 pandemic on the housing market in Taipei and sheds light on the factors driving housing prices. The results can provide a basis for further research into the effects of the pandemic on the housing market.

    Contents Abstract ............................................................................................................................... 2 Acknowledgements ............................................................................................................. 4 List of Figures ..................................................................................................................... 7 List of Tables ...................................................................................................................... 7 Chapter 1 Introduction ........................................................................................................ 8 Chapter 2 Literature Review ............................................................................................. 10 Chapter 3 Methodology: Data Descriptions, Research Designs, and Limitations ............ 14 3.1 Data Descriptions .................................................................................................... 14 3.2 Research Design ...................................................................................................... 16 3.3 Assumptions and Limitations .................................................................................. 17 Chapter 4: Model Specifications and Empirical Results .................................................. 19 4.1 Empirical Model Specification ................................................................................ 19 4.2 Parallel Trend Assumption ...................................................................................... 21 Chapter 5: Empirical Results ............................................................................................ 23 5.1 Model 1: DID model for all transaction with one to four bedrooms. ............................................. 23 5.2 Model 2: DID model factoring in the types of properties (all bedroom layouts). .......................... 24 5.3 Model 3: DID model factoring in the most common types of properties, and bedroom layouts. ... 25 Chapter 6: Conclusion, Implications, and Limitations ..................................................... 27 References ......................................................................................................................... 29

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