• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.1
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• pp.63-69
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• 2021

Purpose - This study examines the regressive estate taxation issues and seeks measures for the rationalization of property taxation. Although various discussions on the reorganization of property taxation have been made, discourses on how much property taxation burden is given to homeowners and on whether the increase of property taxation should be shifted to tenants have not been properly carried out. Research design, data, and methodology - Therefore this study examined the property taxation issues and sought measures for the rationalization of property taxation based on homeowners' social and economic characteristics. This study deals with discussions on the directions for rational real estate reorganization and what desirable real estate market stabilization polices are. Result - This study investigates what issues and disputes the powerful real estate policies to ease overheat of the real estate market have caused and seeks directions to solve those. Conclusion - The study results supports that the real estate taxation would be levied in proportion to the economic capacity of real estate owners to pay taxes. It implies that tax levy not only in conjunction with income, but also in combination with existing real estate assets would be considered to be desirable in terms of comprehensive tax justice.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.121-128
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• 2019

This study analyses the relationship between the real estate market and economic growth in Vietnam, a country with a fledgling real estate market. Research data included economic growth rate and growth rate of the real estate market in Vietnam. The research used quarterly data for the period from 2005: Q1 to 2018: Q1. With the characteristics of Vietnam, there has been no real estate index up to now; therefore, the research used data on growth rates of the real estate market. In addition, the real estate market in Vietnam is still young, so the data series is very short, which is a limitation of this research. With qualitative and quantitative methods especially with the Vector Auto Regressive (VAR) model; the results of the study indicate new findings, unlike previous studies, including: (1) The real estate market positively impacts Vietnam's economic growth, most noticeably in the second quarter lag and the fourth quarter lag, and then its trend impacts inversely; (2) The real estate market and economic growth in Vietnam have fluctuated over time with many risks that are affected by the past shocks of these factors. From these findings, we proposed some managerial implications for managing the real estate market with economic growth in Vietnam sustainably.

• The Journal of Industrial Distribution & Business
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• v.12 no.2
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• pp.41-52
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• 2021

Purpose: This study aims to provide implications for the government's housing supply policy by analyzing the factors that determine the type of real estate holding and household debt. This study started from the awareness that the determinants of household debt differ depending on the type of real estate holding. Research design, data and methodology: Real estate ownership type was classified and analyzed into 4 models: model 1 (1 household 1 house and self-resident), model 2 (1 household multiple real estate ownership and self-resident), model 3 (1 household 1 house and rent residence), model 4 (1 household holds a large number of real estate and rent residence). The analysis method used multiple regression analysis. The dependent variable was household total debt. As independent variables, household debt, annual gross household income, financial assets, real estate net assets, annual repayment, demographic & residential characteristics were used. Results: 1) Model 4 has the highest household debt and the highest gross income, Model 2 has the most real estate mortgage loans and real estate net asset, and Model 1 has the highest real estate mortgage payments. 2) The positive factor of common household debt determinants is real estate net assets, and the negative factor is financial assets. 3) It was the net assets of real estate that acted as a positive factor in common for the four models. In other words, the more financial assets, the less household debt. It was analyzed that the more net assets of real estate, the more household debt. The annual repayment of financial liabilities had no influence on household debt, while the annual repayment of loan liabilities and household debt had a positive relationship. Conclusions: 1) It is necessary to introduce benefits and systems that can increase the proportion of household financial asset. Specific alternatives include tax benefits and reduced fees for financial asset investment. 2) In the case where a homeless person prepares one house for one household, it is necessary to prepare various support measures according to the income level. The specific alternative is to give additional points for pre-sale or apply an interest rate cut incentive for mortgage loans.

• Korea Real Estate Review
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• v.27 no.3
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• pp.23-40
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• 2017

This study examined the motive and incentive for the disposal and purchase of corporate real estate assets based on the various firm characteristics. It was empirically found that firms with a higher leverage ratio, lower cash holdings, and lower sales growth are more likely to dispose of their real estate assets. This implies that financial constraints, internal reserves, and growth opportunities are important factors affecting the corporate decisions regarding the disposal of real estate assets. Meanwhile, it was found that firms with a lower leverage ratio have a higher probability of purchasing real estate assets, suggesting that a stable financial structure enables firms to acquire more of such assets. Using the transaction amount of corporate real estate assets, consistent results were found. While varied opinions on the utilization of corporate real estate assets have been raised, this study broadened the understanding of such by performing rigorous analyses. The result of this study would have practical implications in terms of the introduction of regulations or the establishment of business strategies related to corporate real estate assets.

• Journal of Information Technology Services
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• v.18 no.1
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• pp.13-26
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• 2019

This study analyzes the characteristics of lending-based crowdfunding of various crowdfunding models, identifies the factors affecting the use of the general public, and provides suggestions for the policies set by real estate crowdfunding businesses and related authorities. To analyze the service's adoption from a cognitive perspective, this study developed a new model that combined the Value-based Adoption Model (VAM), motivation theory, and a set of variables that take into account the characteristics of the real estate industry. For empirical analysis, survey was conducted from the general investors of real estate and valid 252 data were utilized by R 3.2.2. The results of this study showed that both government regulation and the perceived risk are hindering the perceived values and intention to use crowdfunding for real estate. In contrast, this research found that among the intrinsic motivation, enjoyment had a significant impact on the perceived value. In addition, it turned out that among the extrinsic motivation, market attractiveness, brand credibility, expected return, and safety and protection had significant impacts on the perceived value. Finally, it showed the perceived value of real estate crowdfunding had a positive impact on the intention to use.

• The Journal of Information Systems
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• v.30 no.2
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• pp.147-163
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• 2021

Purpose The study aims to predict real estate prices by utilizing regional characteristics. Since real estate has the characteristic of immobility, the characteristics of a region have a great influence on the price of real estate. In addition, real estate prices are closely related to economic development and are a major concern for policy makers and investors. Accurate house price forecasting is necessary to prepare for the impact of house price fluctuations. To improve the performance of our predictive models, we applied LSTM, a widely used deep learning technique for predicting time series data. Design/methodology/approach This study used time series data on real estate prices provided by the Ministry of Land, Infrastructure and Transport. For time series data preprocessing, HP filters were applied to decompose trends and SOM was used to cluster regions with similar price directions. To build a real estate price prediction model, SVR and LSTM were applied, and the prices of regions classified into similar clusters by SOM were used as input variables. Findings The clustering results showed that the region of the same cluster was geographically close, and it was possible to confirm the characteristics of being classified as the same cluster even if there was a price level and a similar industry group. As a result of predicting real estate prices in 1, 2, and 3 months, LSTM showed better predictive performance than SVR, and LSTM showed better predictive performance in long-term forecasting 3 months later than in 1-month short-term forecasting.

• The Journal of the Korea Contents Association
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• v.21 no.12
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• pp.906-917
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• 2021

This study focused on real estate rental income, which is being interested as a means of preparing for old age in the age of low growth and aging. Rental income is seen to function as a safety net of society at a time when it is necessary to live a difficult old age due to the disconnection of income and the extension of the average life span. Therefore, this study conducted the following study on 1,025 households that own rental real estate nationwide. First, the relationship between the characteristics of the household of the rental real estate owner and the real estate rental income was analyzed, and second, it examined whether there is a difference in rental income between the group that engages in income activities other than rental income and the group that only has rental income without income activities. As a result of the analysis, among the demographic and sociological characteristics, gender and spouse were identified as significant variables in rental income. Among the economic characteristics, income and total debt were found to be significant variables. In the case of income activities, rental income was low, and rental income was high when the total debt was high. However, if interest rates rise and the economic recession is prolonged due to unpredictable causes, the owner may suffer from double-use. In preparation for this, it is necessary to review real estate policy alternatives such as easing the period of real estate holdings.

• The Journal of the Korea Contents Association
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• v.20 no.5
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• pp.585-594
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• 2020

After the launch of Jeju Special Self-Governing Province in 2006, a number of real estate development projects were carried out; the real estate industry has relatively largely grown as compared with other regions since 2011. This growth has slowed down in 2017, along with the increase of unsold houses and the short of its incoming population, causing its real estate market recession. This study analyzed the source of real estate industry growth in Jeju: either affected by national growth power or its regional competitiveness. This study applied Shift-Share Analysis and Growth Differential Analysis, by dividing the recovery period ('06~'10) and expansion period ('11~'16). According to the result, sales amount and the number of employees in the real estate industry in Jeju had grown in the recovery period based on the national growth power. Its regional competitiveness and stable industrial structure grew in the growth period. Development and subdividing of real estate contributed to the growth of the real estate industry in Jeju. On the other hand, management of real estate weakened its market.

• Korean Journal of Construction Engineering and Management
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• v.16 no.2
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• pp.86-96
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• 2015

Real estate market has rapidly grown by active use of project financing in the early 2000s. However, many projects have been in trouble due to global economic recession after that period. It is mainly because those projects were pushed forward a business without comprehensive business feasibility analysis. This paper investigated current evaluation system for real estate development projects and then introduced new evaluation system including evaluation factor and criteria for real estate development projects to prevent implementation of the project without business value and to be able to evaluate potential projects in objective manner. This new evaluation system for real estate development projects can be applied to any type of real estate development projects by modifying evaluation items and weighting factor in accordance with the type and characteristics of project. Through the new evaluation system, the evaluation process for real estate development projects will be able to be standardized, be consistent, and the results of evaluation can be accumulated in consistent way.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.24 no.10
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• pp.1288-1293
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• 2020

As fears of infection with the Corona 19 virus increase, an untact mood is also blowing in the real estate market. Changes in life style are bringing about changes in the way of life and patterns of consumption. In the real estate marketing market, such changes are inevitable. In particular, marketing using a real estate model house has the characteristics of marketing that is closely related to the denseness that many people visit in an enclosed space. These characteristics include all three features (airtight, dense, close), characteristics mentioned in the COVID-19 prevention rules. Therefore, in this study, we will look at ways to reinforce model house customer marketing in line with the untact (non-face-to-face) trend and to avoid the above three features, characteristics in the model house customer marketing process, and show the implementation results to avoid features. Through this, we propose a safe and expandable real estate marketing strategy through the avoidance of the three features of corona 19.