{"id":956,"date":"2020-04-28T16:46:23","date_gmt":"2020-04-28T08:46:23","guid":{"rendered":"http:\/\/localhost:8888\/?p=956"},"modified":"2025-12-25T16:07:51","modified_gmt":"2025-12-25T08:07:51","slug":"the-price-volume-relationships-between-the-existing-and-the-pre-sales-housing-markets-in-taiwan","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/28\/the-price-volume-relationships-between-the-existing-and-the-pre-sales-housing-markets-in-taiwan\/","title":{"rendered":"The Price-Volume Relationships between the Existing and the Pre-Sales Housing Markets in Taiwan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"956\" class=\"elementor elementor-956\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38da191 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38da191\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2f4e6e9f\" data-id=\"2f4e6e9f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75879236 elementor-widget elementor-widget-text-editor\" data-id=\"75879236\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><p><!-- Article Title --><\/p><div class=\"article_label\">Article<\/div><p class=\"article_title\">The Price-Volume Relationships between the Existing and the Pre-Sales Housing Markets in Taiwan<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Ching-Chun Hua, Chin-Oh Chang, Chengho Hsieh<\/p><p class=\"title_text_large\">80 \/ 94<\/p><p class=\"title_text\">4<\/p><p class=\"title_text\">1<\/p><p class=\"title_text\">2001<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>In Taiwan, the housing market can be separated into the existing housing market and the pre-sales market. The existing market can be regarded as the stock market, and the pre-sales market the flow market. However, some unique characteristics exist in the Taiwan market. Based on these characteristics, we modified the conventional housing stock-flow model to describe the price-volume relationship between the existing and pre-sales markets. Empirical models are constructed to test the relationship. Major findings are: 1) both the pre-sales price and the existing price converge to the long-run equilibrium; however, the pre-sales price adjusts faster than the existing price, implying that the existence of the pre-sales system improves market efficiency; and 2) housing supply from the pre-sales market responds to the housing market surpluses\/shortages.<\/p><p>\u00a0<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2020\/10\/2001-Vol-4-No-1-The-Price-Volume.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100030<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p><a class=\"backpage\">Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div>\n<p class=\"title_label_large\">Author<\/p>\n<p class=\"title_label_large\">Start Page \/ End Page<\/p>\n<p class=\"title_label\">Volume<\/p>\n<p class=\"title_label\">Issue Number<\/p>\n<p class=\"title_label\">Year<\/p>\n<p class=\"title_label_large\">Publication<\/p>\n<\/div>\n<div>\n<!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p>\n<p class=\"title_text_large\">Ching-Chun Hua, Chin-Oh Chang, Chengho Hsieh<\/p>\n<p class=\"title_text_large\"> 80 \/ 94<\/p>\n<p class=\"title_text\">4<\/p>\n<p class=\"title_text\">1<\/p>\n<p class=\"title_text\">2001<\/p>\n<p class=\"title_text_large\">International Real Estate Review<\/p>\n<\/div>\n<p class=\"downloadLine\"><a href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/past\/vol4_pdf\/080-094Taiwan1.pdf\">Download Entire Article.<img src=\"https:\/\/i.ibb.co\/m8rCXNQ\/download-pdf-large.png\" alt=\"download-pdf-large\" border=\"0\"> <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[159,158],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/956"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=956"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/956\/revisions"}],"predecessor-version":[{"id":4817,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/956\/revisions\/4817"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}