@article{ART001654704},
author={Choi, Tae Kyu and Seon-Jong Yoo},
title={A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2012},
volume={22},
number={1},
pages={39-77},
doi={}
TY - JOUR
AU - Choi, Tae Kyu
AU - Seon-Jong Yoo
TI - A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-
JO - Korea Real Estate Review
PY - 2012
VL - 22
IS - 1
PB - korea real estate research institute
SP - 39
EP - 77
SN - 2092-5395
AB - This study examines the appraiser’s professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price by using the AHP. The Commercial Officially Assessed Reference Land is appraised by Income Capitalization Approach Appraisal Model(Soojung Model).
The theoretical and practical limit of the Soojung Model was summarized as follows:First, the Soojung Model is contrary to the principle of vacant land assumption appraisal because it calculates the net operating income vested in land by mirroring the condition of the building in it. Second, the Soojung Model is an appraisal model discrepant from the investment behavior of the real estate market(integrated sales of land and building) by physically distinguishing the net operating income of land from that of building and applying the net operating income. Third, the ‘income rate’ is applied to the Soojung Model though it may be different from the capitalization rate in terms of meaning and calculation process. To present an New Income Capitalization Approach Appraisal Model(New Model), the questionnaire research was conducted as the views that appraisers participating in the officially assessed reference land price had on the Soojung Model. As a questionnaire research results, New Model should have the principle of vacant land assumption appraisal, applying the net operating income of both land and building, applying cost of building and reversion value of land.
KW - commercial officially assessed reference land price;income capitalization approach;principle of vacant land assumption appraisal;analytic hierarchy process
DO -
ER -
Choi, Tae Kyu and Seon-Jong Yoo. (2012). A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-. Korea Real Estate Review, 22(1), 39-77.
Choi, Tae Kyu and Seon-Jong Yoo. 2012, "A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-", Korea Real Estate Review, vol.22, no.1 pp.39-77. Available from: doi:
Choi, Tae Kyu, Seon-Jong Yoo "A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-" Korea Real Estate Review 22.1 pp.39-77 (2012) : 39.
Choi, Tae Kyu, Seon-Jong Yoo. A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-. 2012; 22(1), 39-77. Available from: doi:
Choi, Tae Kyu and Seon-Jong Yoo. "A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-" Korea Real Estate Review 22, no.1 (2012) : 39-77.doi:
Choi, Tae Kyu; Seon-Jong Yoo. A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-. Korea Real Estate Review, 22(1), 39-77. doi:
Choi, Tae Kyu; Seon-Jong Yoo. A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-. Korea Real Estate Review. 2012; 22(1) 39-77. doi:
Choi, Tae Kyu, Seon-Jong Yoo. A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-. 2012; 22(1), 39-77. Available from: doi:
Choi, Tae Kyu and Seon-Jong Yoo. "A Study on the Appraiser’s Professionalism for making Income Capitalization Approach Appraisal Model of the Commercial Officially Assessed Reference Land Price -Based on Income Approach Appraisal Model of Commercial Officially Assessed Reference Land-" Korea Real Estate Review 22, no.1 (2012) : 39-77.doi:
