Korea Real Estate Review 2021 KCI Impact Factor : 0.75

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pISSN : 2092-5395 / eISSN : 2733-8339

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2018, Vol.28, No.4

  • 1.

    The Effect of Parental Financial Support and Housing Loan on Newlyweds’ Housing Tenure

    정관석 , Lee Jae Woo | 2018, 28(4) | pp.7~22 | number of Cited : 7
    This study aimed to empirically analyze the factors that influence newlyweds’ housing tenure. For this, a questionnaire survey was conducted among newlyweds living nationwide who had been married for 5 years or less and were under the age of 40. The results of the survey were empirically analyzed by applying various variables. With regard to parental financial support among the factors influencing newlyweds’ housing tenure, the analysis results showed that the probability of owner occupancy was high among the households with parental financial support than among those with none, and the larger the size of the parental financial support was, the higher the probability that the newlyweds owned the house they were occupying. As for the housing loan variable, it was found that the probability of owner occupancy was high among the newlyweds with a housing loan than among those with none, and the larger the amount of the newlyweds’ housing loan was, the higher the probability that they owned the house they were occupying. As opposed to what is generally recognized, however, the survey showed that the higher the ratio of dual earners is, the lower the owner occupancy probability due to the probability of job transition, etc. In addition, it was found that the probability of owner occupancy for the newlyweds living in Seoul was lower than that for the newlyweds living in other regions in South Korea. Accordingly, this study showed that appropriate levels of parental economic indicators should also be reflected in the stable housing support and loan policies for newlyweds in the context that the succession to their parents' fortunes is generalized.
  • 2.

    An Importance Analysis of Coworking Space Organization and Operating Components

    배철희 , 김정엽 , Hyun-Seok Lee | 2018, 28(4) | pp.23~35 | number of Cited : 3
    The shared-office business started with the lending of office spaces such as meeting rooms. From this came the coworking space, which maximizes the collaboration among the residents and promotes synergy among them. The purpose of this study was to analyze the characteristics of the coworking space. In addition, this study derived the factors that are considered important among the hardware- and software-level operating components, and presented the priorities according to the importance through a questionnaire survey and analysis for the employees currently utilizing a coworking space. For the results of the analysis, the top elements in the survey were found to be “spatial composition,” “membership management,” coworking management,” and “architectural elements.” In addition, when the general items were analyzed according to their characteristics, it was found that there was a difference in priority level among the elements of each characteristic. These results are expected to be useful when designing coworking spaces in the future. The results of this study can be used as the basic data for solving the problems of small companies and the environment, among others. Furthermore, the results of this study can be utilized as the basic data for the development of a collective shared community through linking at the local or national level, rather than being limited to a single space.
  • 3.

    A Comparative Study on the Effects of Location Factors on Sales by Restaurant Type

    노은빈 , Lee, Sang Kyeong | 2018, 28(4) | pp.37~51 | number of Cited : 4
    The purpose of this paper is to analyze the effects of location factors on sales by restaurant type in the six districts of Seoul (Jongno-gu, Jung-gu, Yeongdeungpo-gu, Gangnam-gu, Seocho-gu, and Songpa-gu). Ordinary least squares (OLS) regression model is selected for four restaurant types whose spatial autocorrelation is not identified, spatial lag model (SLM) is only selected for seafood restaurant, and spatial error model (SEM) is selected for nine other restaurant types. The floating population and the workers of surrounding businesses have generally positive effects on the sales of restaurants. The floating population elasticity of the sales of restaurants are found to be in the descending order of Oriental food, pub, Western food, and traditional food restaurant, and the elasticity of the workers of surrounding businesses are in the descending order of bakery, Oriental food, and Western food restaurant. The spatial multiplier effects are in the descending order of Oriental food, pub, and Western food restaurant. There is a statistically significant sales gap between roast meat, pub, and bakery in Gangnam-gu and those in five other districts. The results of this research can help in starting a restaurant in that they can provide information on the suitability of location by restaurant type.
  • 4.

    A Study on Qualification for Possessory Lien on and Auction of Unregistered Buildings

    Lee, Jae Seog , 정보선 , Sangyoub Lee | 2018, 28(4) | pp.53~62 | number of Cited : 1
    When the contractor does not receive payment for his work due to the client’s funding default, he can take various legal measures against the client, in addition to refusing to transfer the building under construction to the client. To claim top payment priority and to demand the equal enforcement of the law by applying for compulsory auction or auction by exercising the right of lien, the contractor should know the construction phase or the point in time when he could exercise a lien or apply for a forced auction of the unregistered building. This study was conducted to examine qualification for lien and auction of an unregistered building. First, the general criteria for qualification for lien from qualification for ownership were examined. This means that an unregistered building can be subject to lien from a certain point in time in the construction phase, where the ownership is qualified as an independent real estate with minimal pillars, roofs, and walls. Second, the contents of the narrow and broad auction qualification were analyzed. As the contractor can select the appropriate legal means to reimburse the construction cost for the unregistered building, the results of this study are expected to provide the bases for qualification for lien on and auction of unregistered buildings.
  • 5.

    Factors Affecting the Appropriateness of Forest Land Transaction Price and Officially Assessed Land Price in Six Districts in Southern and Northern Parts of Han River in Seoul

    김학준 , You, Ju-Yeun | 2018, 28(4) | pp.63~73 | number of Cited : 1
    The purpose of this study is to identify the key factors affecting official land values and the appropriateness of the assessed land price, to find out what determines the real estate price and to assess the appropriateness of the valuation. This study explored whether actual transaction prices of forest land located in six Gu districts in southern and northern parts of Han river are appropriate using independent sample t-analysis and logistic regression analysis. Results showed that regional differences and shape were adequate for development restriction areas, whether biotope was designated, whether or not to be preserved, differences in pitch, and differences in use, and differences in bearing and approach. Thorough analysis of unique factors that determine forest land prices must be carried out in advance and the findings should be applied to the examination and assessment of official land values. The forest land appraisal system is closely related to the public’s economic activity, thus it is necessary to apply forest land value determinants considered to be significant by market participants to the forestland appraisal system. I look forward to seeing variables related to the appropriateness of forest land transactions drawn from this study being used as indices for settlement of forest land transaction orders and market stabilization.
  • 6.

    Effect of the Spread on Housing Mortgage Loans

    Kim Woo-Seok | 2018, 28(4) | pp.75~88 | number of Cited : 3
    The purpose of this study is to analyze the effect of the spread on housing mortgage loans. In particular, this study analyzes how the spread has a decisive effect on housing mortgage loans when a structural change occurs in the spread. For the sake of empirical analysis, this study utilizes the housing mortgage loan, housing mortgage loan interest rate, COFIX interest rate, and spread. The period of analysis is from December 2010 to December 2017. Results of the analysis show that there is a statistically significant structural change in the spread and housing mortgage loans (May and June 2015, respectively). It is estimated that the structural change in the spread has an influence on the structural change in housing mortgage loans. In addition, the effect of the spread on housing mortgage loans is larger than the effect of the COFIX interest rate and the housing mortgage loan interest rate. This indicates that the adjustment of the spread is a significant burden on housing mortgage loans. As economic uncertainties both internally and externally are increasing, pressure on interest rate hikes is also increasing. Considering these circumstances, interest rate hikes will be inevitable in the future. If the base interest rate and the spread increase simultaneously at Korea’s current economic level, it will obviously lead to an economic recession as the burden on the repayment of principal and interest of housing mortgage loans will increase. Therefore, it is imperative that financial authorities prepare institutional arrangements in order to protect financial consumers by preventing arbitrary calculation of the spread, which would not be objective and would not be transparent from the banks.