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A Study on Determinants of Golf-Course Construction Period

  • Korea Real Estate Review
  • 2014, 24(2), pp.97-111
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Sungkyu Park 1,  Sung Won Lee 1

1(재)한국부동산연구원

Accredited

ABSTRACT

The purpose of this paper is to provide the direction of the efficient construction through the empirical analysis concerning socioeconomic factors, influencing on the Golf-Course construction period. First, examining the brief outline of the Golf-Course construction related-laws, this paper looks at the things that construction regulation has been dramatically released in the mid 2000s due to the market factors (i.e., increase of golf population) and the policy factors (i.e., growth of the regional economy). In the trend of deregulation, the paper sets hypothesis that developers with low expertise and small business groups caused the major problems in business such as ‘not yet start’ and ‘delay of project’ that is occurred after the financial crisis in 2009. In order to verify it, we set the several experimental variables on the Golf-Course construction period (i.e., provisional seizure or attachment and use of eminent domain). These variables were statistically significant. This result implies that an effort to ensure the efficient Golf-Course construction is needed.

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