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A Study on Developing the Performance Index of Real Estate Investment

  • Korea Real Estate Review
  • 2013, 23(3), pp.135-155
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Roh, Sangyoun 1,  Lee, Youngho 2,  Min, Seonghun 3

1국민연금연구원
2한국부동산연구원
3수원대학교

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ABSTRACT

Institutional investors such as public pensions and funds are steadily diversifying their investment portfolio by increasing real estate investment. And their behavior influences the real estate market in Korea, too. For the effective asset allocation and performance evaluation, benchmark index of real estate investment is essential for institutional investors, however it has not been prepared in Korea yet. This study suggests a variety of plans in order to make the benchmark index in view of indexing methods, DB items and organizational systems. Firstly, we propose that the Customized Benchmark Index be made by the criteria of style, sector, location and position. Secondly, we propose that DB items be made up of not only property level items but also fund level items. Thirdly, we propose that the organizational systems be run by the establishment of nonprofit organization or government organization.

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