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A Study on the Establishment of Commercial Real Estate Information Framework in Korea compared with the Case of USA and Singapore

I TaLy 1 Jung-Hee Cho 1 Choi, Jin 1 Kwon GeonWoo 1

1국토연구원

Accredited

ABSTRACT

Commercial properties are gaining importance in the national economy, drawing more and more interests from agencies and individuals. Therefore, objective and accurate investment information needs to be supplied in order to support rational decision making and market transparency. To contribute to guiding the Korean commercial property market to become as transparent and competitive as the markets of developed countries, this study aims to seek for ways to establish a Korean commercial property information framework. As part of the activities to achieve the goal, the Korean commercial property market information was first evaluated in terms of data collection, production and operation. Then, US NCREIF, which is operated by the private sector, and Singapore's URA, managed by the public sector, were considered as the examples of well-managed foreign commercial property market information frameworks. Efficient management of the systemrequires establishing a monitoring scheme, and users' accessibility and information availability will be enhanced through phased expansion of the information.

Citation status

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