@article{ART001726568},
author={이우재 and Hun Hee Cho},
title={A Study on the Improvement of Land Price Estimation in Development Charge System},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2012},
volume={22},
number={3},
pages={7-36}
TY - JOUR
AU - 이우재
AU - Hun Hee Cho
TI - A Study on the Improvement of Land Price Estimation in Development Charge System
JO - Korea Real Estate Review
PY - 2012
VL - 22
IS - 3
PB - korea real estate research institute
SP - 7
EP - 36
SN - 2092-5395
AB - Recent amendments to the Restitution of Development Gains Act (05/19/2011) improve transparency in and ease development cost estimation through the introduction of a standard cost system. However, estimating the land price is yet to see any systematic improvement. Valuation-detailed criteria and methods are insufficient. In this study, the problems of the current land price estimation system are presented. Through simulation techniques and by assuming simplified development projects in each case, the development charges are determined. This study analyzes the causes of problems and examines the impact of the problems on the development charge. This study suggests a way to improve on the problems indicated, and analyzes the expected effects. The results of the analysis are as follows. First, when criteria are used interchangeably, the development charge -calculated as per the developer- is different. Second, because the interpretation of the normal transaction price in a purchase and the accepted standards are unclear, imbalance occurs between the initial land price and the final land price. Therefore, this study suggests that appraisal should be applied and the estimated land price should be raised for accuracy. The study also proposes to apply the same criteria throughout the development project area.
KW - development profit;development profit recapture;development charge;land price estimation
DO -
UR -
ER -
이우재 and Hun Hee Cho. (2012). A Study on the Improvement of Land Price Estimation in Development Charge System. Korea Real Estate Review, 22(3), 7-36.
이우재 and Hun Hee Cho. 2012, "A Study on the Improvement of Land Price Estimation in Development Charge System", Korea Real Estate Review, vol.22, no.3 pp.7-36.
이우재, Hun Hee Cho "A Study on the Improvement of Land Price Estimation in Development Charge System" Korea Real Estate Review 22.3 pp.7-36 (2012) : 7.
이우재, Hun Hee Cho. A Study on the Improvement of Land Price Estimation in Development Charge System. 2012; 22(3), 7-36.
이우재 and Hun Hee Cho. "A Study on the Improvement of Land Price Estimation in Development Charge System" Korea Real Estate Review 22, no.3 (2012) : 7-36.
이우재; Hun Hee Cho. A Study on the Improvement of Land Price Estimation in Development Charge System. Korea Real Estate Review, 22(3), 7-36.
이우재; Hun Hee Cho. A Study on the Improvement of Land Price Estimation in Development Charge System. Korea Real Estate Review. 2012; 22(3) 7-36.
이우재, Hun Hee Cho. A Study on the Improvement of Land Price Estimation in Development Charge System. 2012; 22(3), 7-36.
이우재 and Hun Hee Cho. "A Study on the Improvement of Land Price Estimation in Development Charge System" Korea Real Estate Review 22, no.3 (2012) : 7-36.
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