A Study of the Validation of Seoul Housing Actual transaction Price Index(SHAPI) : Using the Actual transaction Price Index of Apartment in Seoul

As an indicator of housing price trends, the housing price index should have both accuracy and timeliness. This study aimed to validate the statistical reliability, stability of the Seoul actual price index for apartments developed by the Seoul Metropolitan Government, and its conformity on shortening of the publication time difference from 45 days to 15 to secure the timeliness of the index. The result showed that Seoul actual price index for apartments by building ages and housing areas have statistical reliability and stability throughout all detailed subtypes. Also, the additional analysis on the change in the index after reflecting cancelled transactions showed that there was insignificant difference between the original index and the index reflecting cancelled transactions. Therefore, this study empirically proved that Seoul actual price index for apartments can secure timeliness by collecting and analyzing data on the basis of date of registration without any distortion of the housing market.