• Journal of the Architectural Institute of Korea Planning & Design
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• v.36 no.3
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• pp.91-102
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• 2020

This study examined the apartment sale in lots system from 1960s to 1970s in Seoul from a historical perspective, with the focus on the concept and changes of pre-sale in lots system. By tracing back historical context and application of the system in that period through the analysis of the advertisements for apartment sale, we found out the hidden side of the apartment pre-sale in lots system from the public's point of view, and its impact and meaning on the formation of our current residential culture. In the 1960s and 1970s, the apartment sale in lots system based on the pre-sale in lots system formed strong seller's market and it has been the main reason for imposing the wrong residential awareness that led the public to recognize housing as a means of property growth. Even now, the current apartment sale in lots system remains to be a supplier-oriented one, and lots of people tend to regard housing as investment method. That is, this mechanism is not only still working but one of the fundamental causes of impoverishing our residential culture. It is necessary to reconsider the pre-sale in lots system and the apartment sale in lots system in relation to the public of housing.

• Journal of Cadastre & Land InformatiX
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• v.44 no.2
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• pp.231-242
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• 2014

On the Pre-Housing-Sale Systems there are many risks that developers might not fulfill the pre-sale obligations. In korea, in order to protect the people who bought houses from these risk, the Housing Sold Guarantee System was introduced and has been operated. Even though this system if there is accident in the pre-sale warranty business, several problems, such as damages caused to the people who bought the houses, occurs. Therefore, research is needed to Housing Sold Guarantee accident factor. But there are few study about it. This study attempted to analyze influencers on the possibility of the accident. We employ 3,026 data which Korea Housing Guarantee Co., Ltd manages and analyze them empirically, using business characteristics, housing market characteristics, and regional characteristics. Especially this study used to the binary logistic regression model. The results of analysis showed that the accident rate of Housing Sold Guarantee had been effected on the business type, house type, project financing guarantee, operator credit rating, housing market, and regional characteristics.

• Korean Journal of Construction Engineering and Management
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• v.22 no.4
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• pp.59-65
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• 2021

Since the 2016 "Housing Act Partial Amendment" and the "2018 Housing Comprehensive Amendment Plan", interest in the pre sale system and post sale system of apartment houses has been on the rise. In order to compare the advantages and disadvantages of the pre sale system and the post sale system of apartment houses, and to establish the basis for the institutional policy of the post sale system, a questionnaire survey method was used for tenants of the apartment house from the public side, and issues of time and cost. The time series analysis method is intended to suggest an appropriate time for payment of contributions. Accordingly, through a review of existing theories and literature, the post sale system of public and private institutions was organized, and through a questionnaire survey, the path to securing pre sale money, product information of the model house, and the degree of awareness of the effect of the post sale system were investigated. For the post sale fund support and payment method, it is necessary to increase the commercial line for existing financiers from the user's point of view, and it is necessary to operate in consideration of the economic power of the pre sale market by region. Both 60% post sale and 80% post sale have a price range of up to KRW 10 million, and the total interest rate is 5.0%, and the annual interest rate is about 2.8% for 60% post sale, and about 2.1% for 80% post sale, which is lower than the current 3.1%. I need an interest rate. The research is a perception survey targeting a total of 5,213 households in a sample of after sale apartments in public institutions. As the actual values are analyzed using a time series on the effects of market supply and demand and market prices, there is a limit to applying them to prospective residents of private apartments. In addition, to respond to first time tenants, a questionnaire survey was conducted on five complexes that have moved in within the last five years.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.455-458
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• 2007

With the government plan to introduce a post-sale system to the Korean real estate market quickly becoming a reality, reformation of the supervision policy under the current pre-sale system is expected. The current supervision policy, designed to enhance the quality of houses and to prevent improper construction, was reinforced through the 'residential construction promotion act' and has been further revised as the 'residential law'. At this current time, the introduction of a post-sale system is expected to affect all aspects of residential construction, from the planning stages to overall conditions regarding the actual construction. Therefore, this research will illustrate several changes in the supervision policy that are expected to arise from the introduction of the post-sale system, focusing on areas of the policy that are presumed to be the most affected. The research will highlight problems under the current system, analyze any domestic supervision restrictions that have been regulated for post-sales that are currently effective, and suggestion methods of improvement in construction supervision system through SWOT analysis.

• Korean Journal of Construction Engineering and Management
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• v.13 no.5
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• pp.25-34
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• 2012

It has been five years since the Post-Construction Sale System of Housing was introduced. The purpose of this study is to identify objectives and effects of the Post-Construction Sale System of Housing and analyze change of profitability at different sales time from a supplier's point of view. Apartment buildings construction projects performed in Seoul are used for the case study. The present value of sales revenues, sensitivity and the present value of expected sales prices are analyzed. According to the findings, first, profits made from a Pre-construction sales system was 5.1%~6.2% higher than those from a Post-construction sales system. Among four plans of a Pre-construction sales system (A, B, C and D plan), sales revenue from the A plan, which takes a deposit at the time of starting construction, was the greatest. Second, increase of the rate of discount and decrease of sales revenues are in direct proportion. The bigger rate of discount leads actual reduction of sales revenues. Third, for the present value of sales revenues reflecting change in basic model construction cost, a Pre-construction sales system showed a little higher than that of a Post-construction sales system by approximately 2%. It should be known that this study suggests profitability of Pre-and Post-construction sales system by clearly measuring them in the supplier's point of view and calculates sales revenues, considering change of a sale price following change of sales time.

• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.11-18
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• 2024

Purpose: The purpose of this study is to suggest the activation plan of the post-construction sales through the results of a survey on the perception of Seoul citizens and experts. Research design, data and methodology: The purpose of this study is to suggest the activation plan of the post-construction sales through the results of a survey on the perception of Seoul citizens and experts. Results: According to a survey of Seoul citizens' perceptions, 76.7% of Seoul citizens were well aware of post-construction sales and recognized that post-construction sales would reduce pre-sale speculation and confusion in the real estate market. Second, 73.6% of Seoul citizens were willing to buy houses through post-construction sales, and third, 79.6% of Seoul citizens recognized that a post-sale system was necessary. Experts' opinions generally responded to the expansion of the introduction of post-construction sales, saying, 'It is necessary for both the public and the private sectors'. Second, while experts say that there are also positive effects, negative effects such as polarization centered on large corporations, an increase in sales prices, and a decrease in housing supply are also concerned. Third, experts responded that 'diversification of financing methods' is the most important task in revitalizing the post-sale system. Conclusions: The policy implications are that it is necessary to mandate the post-construction sales in the long term, and that the quality assurance system needs to be supplemented even if the sale is promoted post-construction sales. In addition, private participation is essential to revitalize the post-construction sales, and government support such as initial financing, low-interest rates, and various financing measures should be sought to expand private participation.

• The Journal of the Korea Contents Association
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• v.21 no.2
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• pp.78-84
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• 2021

Issues have arisen over the monopoly of housing sales guarantees by the Housing and Urban Guarantee Corporation. If the Ministry of Land, Infrastructure and Transport appoints an additional guarantee institution, there is concern that the property protection between the two parties is insufficient due to excessive competition and the weakening of urban regeneration resources. It argues that housing supply policies for stabilization of the housing market can be smoothly implemented through monopoly projects. This is judged to be an abuse of market dominant position under the Fair Trade Act, and excessive restrictions on pre-sale guarantee requirements may cause delays in business and infringement of property rights of members. First, the establishment of a designation system for market dominant operators of the Fair Trade Commission enables new entry of private guarantee institutions. Second, it is necessary to improve regulations under Article 63 of the Fair Trade Act (consultation on the establishment of laws restricting competition, etc.). Third, through the establishment of the 「Rules on Housing Supply」 under Article 15 (2), the Minister of Land, Infrastructure and Transport can additionally designate a guarantee institution, thereby guaranteeing the right to select a pre-sale guarantee for the business entity. In addition, it is expected that at least one of a number of guarantee insurance companies can be designated to improve the efficiency of the distribution of social benefits, thereby lowering the volatility of housing prices. Listen and suggest.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.234-237
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• 2003

The Korean housing supply have been provided by the Pre-construction sales system. The Pre-construction sales system contributed to large housing supply. But it followed by the market anomaly. Along the housing market is changing to tile market for consumers, it requires new policy and regulations. This market changes and needs to modify the policy make a discussion about introducing the Post-construction sales system. it concerns to change the time to sale. This paper analyzes the present feasibility study and makes a tool to predict construction cashflow considering changed sales point. The sales timing leads to decide the amount of financial costs in the construction project and that cost affects to the feasibility. The accurate cashflow prediction is required for a successful apartment construction delivery.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.368-372
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• 2007

Recently, construction companies prefer to use large scale system forms to prepare for lacking of skilled workers, aging and the chances of application of pre-build&post-sale policy. In result of the effort and interest, the duration for framework of domestic high rise buildings has been accomplished to 3-4days per floor but for the apartment housing which form over 90% of the domestic construction industry, and especially the middle story RC apartments which is the main part, the duration for framework is only about 6-8days per level. This is only about 50% of the duration per level of RC residential buildings in North America. In previous researches elementary technology, which has potential of duration reduction, was proposed and this research suggest the applicability in construction sites and ways to improve it using elementary technology applied Mock-up Test. Furthermore, we analyze the productivity and T/C usage rate of the 6day-Cycle and suggest an improved model.