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The Improvement of Contaminated Land Valuation Guidelines in Korea Focused on the Case of Japan

  • Korea Real Estate Review
  • 2015, 25(1), pp.51-70
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

권현진 1 ByungRang Kim 2

1한국부동산연구원 책임연구원
2단국대학교

Accredited

ABSTRACT

This study aims to review the Appraisal Practice Standards and other related guidelines for the domestic contaminated land in reference to Japan’s valuation standards and regulations, similar to Korea’s policies, and to propose major improvement plans. In Japan, the items and contents related to the appraisal guidelines of contaminated land have been amended and enforced in accordance to the purpose of the individual regulations and guidelines. Furthermore, experts and appraisers from relevant organizations have gathered to evaluate and discuss about the contaminated land and enact appropriate standards and legislation guidelines. The domestic applications and improvement suggestions proposed from this study are outlined as follows:First, appraisers will need to consider the soil-contaminated land as an independent entry according to the Appraisal Practice Standards because it will expect an increased demand for the contaminated land valuation. Second, the Appraisal Standards Board and other professional committees will need to improve and develop recommended guidelines for the investigations of contaminated land and other related practices. Third, policies and regulations related to the valuation of contaminated properties will need to be modified in order to evaluate the real values of the properties in the current market with more accuracy.

Citation status

* References for papers published after 2023 are currently being built.