• The Journal of Asian Finance, Economics and Business
• /
• 제9권4호
• /
• pp.307-314
• /
• 2022

The construction and real estate industries contribute significantly to each country's economic development. Strong construction and real estate firms will contribute more to the country's GDP by contributing to the industry's development. The purpose of this study is to examine the factors that influence the performance of the construction and real estate sectors in Vietnam. A survey of 200 construction and real estate firms in different areas was conducted from 2020 until the end of 2021. Following the removal of errors, the author got 196 replies, 6 of which were invalid, leaving 190 votes for quantitative analysis. The research findings show that elements such as (1) senior executives' commitment to the organization, and (2) the ability to use technology have a positive and significant impact on firm performance when using advanced econometric analysis. Furthermore, in the case of Hanoi, Vietnam, business relationships have a positive impact on firm performance. Training and development, as well as the working environment and incentives, have little effect on the profitability of construction and real estate firms. Finally, the research also has some recommendations and limitations for the construction and real estate sector.

• Asian Journal of Business Environment
• /
• 제12권1호
• /
• pp.25-33
• /
• 2022

Purpose: The purpose of this paper is to determine the effects of the Real Estate Transactions Tax (RETT) on the economic cycles of Saudi Arabia. A secondary purpose is to determine the effects of RETT on the construction and real estate sectors of Saudi Arabia. Research design, data and methodology: The data used is retrieved from the General Authority of Statistics, Saudi Central Bank and the World Bank Open Data. Econometric models of multiple linear regression with dummy variables have been conducted to achieve the objectives and to quantitatively verify the hypotheses. Results: With the VAT exemption in real estate transactions and its substitution with RETT, a positive effect on the economy and the real estate sector has been observed. However, this tax reform has not produced any significant effects in the construction sector. Conclusions: The main conclusion of the present research is that the real estate market has a major influence on economic cycles. After the tax reform, a reduction in the contribution of taxes on real estate transactions to GDP was detected. For the construction sector, after the tax reform, it is estimated that there will be an insignificant reduction in the contribution of the real estate price index, and of the taxes on real estate transactions, to GDP.

• Journal of Construction Engineering and Project Management
• /
• 제7권2호
• /
• pp.19-33
• /
• 2017

Various forms of procurement are open to companies when constructing new owner-occupied properties. The selection of a form of procurement is an important decision-making problem for companies and their Corporate Real Estate Management (CREM) departments. With this in mind, a decision support tool has been developed to optimise the outcome and success of company's proposed real estate development projects and is presented in this paper. This model can also be used for current real estate portfolios to optimise returns in the long term. In pursuit of this objective and in order to provide an academic basis for this study, decision-relevant goals and parameters were initially identified from the referenced literature used in our research. These were subsequently evaluated in a case study of a corporate development project and identified as specific decision criteria from the perspective of the CREM. The investigation identified 15 criteria that are relevant to the corporate decision-making process in procuring and/or developing property. A model for supporting and resolving decision-making problems of this type was derived from decision theory. In this paper, a decision-making tool is presented that takes into account all the decision criteria from the CREM point of view for the first time. This model should therefore serve as an aid in implementing the decision-making process for the development of real estate projects in a more structured and transparent manner.

• 국제학술발표논문집
• /
• The 3th International Conference on Construction Engineering and Project Management
• /
• pp.1015-1022
• /
• 2009

Currently, Korean real estate market has experienced cooling down of the business because of the global economic crisis which resulted from the subprime mortgage lending practice. In response, the Korean government has enforced various policies at the base of deregulating real estate speculation, such as increasing Loan to value ratio (LTV) in order to stimulate housing demand and supply. However, these policies seemed to result in deep confusion in the Korean housing market. Furthermore, analysis for housing market forecasting, especially international financial crisis on Korean real estate market, has been partial and fragmentary, therefore comprehensive solution and systematical approach is required to analyze the real estate and real estate financial market including causal nexus between market determining factors. In an integrated point of view, applying the system dynamics modeling, the paper aims at proposing Korean Real Estate and Mortgage market dynamics models based on fundamental principles of housing market determined by supply and demand. We also find the impact of deregulation policies focusing on mortgage loan which is the main factors of policies.

• 한국항만학회지
• /
• 제13권2호
• /
• pp.365-380
• /
• 1999

In this thesis the legal systems related to real estate and sea area utilization are studied in order to improve them for construction of Very Large Floating Structure. Main research subjects are as follows: 1) Whether can Very Large Floating Structure be accepted or not as real estate like house and land\ulcorner 2) How can the sea area which is occupied by Very Large Floating Structure be utilized\ulcorner As the conclusion, the Very Large Floating Structure can be registered as real estate even though it is not specified by Korean law for the present. The design concept of Very Large Floating Structure can be interpreted as satisfying enough necessary conditions and factors for Very Large Floating Structure to become real estate. In the near future, we have to make improvement on the laws related with the construction of Very Large Floating Structures so that private sectors can joint the construction. In additions, a new law for various floating structures should be made as soon as possible.

• 국제학술발표논문집
• /
• The 7th International Conference on Construction Engineering and Project Management Summit Forum on Sustainable Construction and Management
• /
• pp.62-72
• /
• 2017

In this study, liner unit root tests and panel unit root tests to the ratio of city to regional house price were applied to examine the ripple effects across 28 cities in the Yangtze River Delta region. Then invert LM unit root tests with two structural breaks for 10 representative cities were conducted. The results showed that there is overwhelming evidence of the existence of ripple effect in the Yangtze River Delta region, while segmentation is restricted to a small group of cities in which there is no long-run relationship with the Yangtze River Delta region average; compared to no- and one-break case, there is overwhelming evidence of a ripple effect with the LM test with two structural breaks. Furthermore, the results of the Granger causality test showed that changes in house prices in Shanghai, Nanjing and Hangzhou have led to changes in house prices in other cities. The findings of this research make certain contributions to the improvements of research system of ripple effect among regional house prices in the Yangtze River Delta Region,and could be referenced by other markets of other cities.

• 한국전자통신학회논문지
• /
• 제3권2호
• /
• pp.118-128
• /
• 2008

현재 공공기관에서 시행되고 있는 각종 부동산전자상거래 관련 서비스 현황을 분석하고, 부동산전자상거래를 우선적으로 적용 시행한 사례를 선택하여 분석하였다. 분석을 통해 정부 주도의 부동산전자상거래 시스템의 구성단위별 구축방안을 모색하고, 단위시스템 구축의 우선 순위를 검토하였으며 부동산컨텐츠정보를 DRM 서버에 전달하고 인증받은 후 복호키와 라이선스만 다운로드 받기 때문에 P2P기술이 가지고 있는 장점을 최대한 살리면서 콘텐츠의 가장 큰 문제점인 저작권 문제를 해결 할 수 있도록 한다.

• 한국건설관리학회논문집
• /
• 제16권2호
• /
• pp.86-96
• /
• 2015

2000년대 PF(Project Financing)의 적극 활용을 통해 부동산개발 및 PF 시장이 급성장하였지만, 이후 세계금융위기의 여파로 부동산 경기 침체로 인해 상당수의 개발사업이 정상적으로 추진되지 못하게 되었다. 이러한 현상은 철저한 사업성 분석 없이 무리하게 사업을 추진한 것이 근본적인 원인으로 판단된다. 이에 본 연구에서는 부동산개발사업의 무분별한 추진을 억제하고 객관적인 평가가 가능하도록 기존 부동산개발사업 평가체계의 문제점을 짚어보고 이를 보완할 수 있는 부동산개발사업의 평가항목 및 평가기준 등을 평가수요 및 사업유형 등 사업의 성격에 맞게 적용할 수 있는 전반적인 평가체계를 제안하였다. 본 연구에서 제안한 부동산 평가체계 및 운영방안을 통해 부동산 평가체계를 제도화하여 표준화함으로써, 보다 일관성 있는 평가가 가능할 것으로 기대되며, 아울러 평가자료의 통일적 축적이 가능하게 될 것으로 기대된다.

• 한국건설관리학회논문집
• /
• 제11권5호
• /
• pp.41-52
• /
• 2010

리츠는 주식시장에 상장되어 있으면서 부동산 개발을 위한 자금조달의 성격과 부동산에 투자하는 특징도 있으므로, 주식 시장과 건설 및 부동산시장과 관계가 있을 것으로 예상할 수 있다. 본 연구에서는 리츠와 주식시장, 건설 및 부동산 경기와 관계된 지표들을 시계열 분석하여, 리츠와의 영향관계를 분석하였다. 시계열 분석은 백터자기회귀모형과 백터오차수정모형을 사용하였으며, 다음의 세 부분으로 분류하여 분석하였다. 첫째, 리츠와 건설 코스피 지수와의 관계를 분석한 결과, 건설 코스피 지수가 리츠에 영향을 주는 것으로 분석되었다. 둘째, 리츠와 건설경기 동행지수인 건축착공면적, 부동산 경기 지수인 오피스 임대지수와 주택매매가격지수와의 관계를 분석하였다. 각 지표들은 서로 인과관계는 없는 것으로 분석되었지만, 리츠와 주택매매가격지수는 서로에게 영향을 주는 것으로 분석되었다. 셋째, 리츠와 건설경기 선행지수인 건축허가면적의 관계를 분석하였다. 두 지표는 서로 인과관계가 없는 것으로 분석되었지만, 건축허가면적이 리츠에 영향을 미치는 것으로 분석되었다. 본 연구를 통해 리츠는 주식시장과 주택경기, 건설경기 선행지표인 건축허가 면적에 영향을 받지만, 건설경기 동행지표인 건축착공면적과 오피스 임대지수에는 상대적으로 영향을 작게 받는 것으로 분석되었다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권7호
• /
• pp.275-283
• /
• 2021

Globalization has greatly contributed to an increased need for improvement of human capital, and particularly in the development of the real estate and construction sector. Since the political and economic reforms in 1986, Vietnam has experienced a strong economic performance. The real estate and construction sector is one of the fastest growing industries in Vietnam, accounting for approximately 7.6% of GDP in Vietnam. The aim of this study is to identify critical factors influencing the satisfaction of employees to their working place. The sample data collected was from 265 employees, managers and staff in real estate and construction companies in Vietnam. After revising the missing data, and the errors, 240 valid respondents are selected. In addition, the analysis also employs SPSS software by discussing descriptive statistics, Cronbach's alpha test, exploratory factor analysis (EFA), and regression analysis. Our empirical findings show that a company offering greater wages can positively affect the satisfaction of employees to their working place in the real estate and construction sector. In addition, a firm with a superior working relationship and working environment has a positive and statistically significant impact on the satisfaction of employees to their working place.