Earticle

A profit on operating security deposit in the real estate rental market involves a considerable controversy because of the interest-seeking hypothesis and the leverage effect hypothesis. Also the security deposit is operated by diversified investment such as interest rates and the leveraged finance from a different perspective. The purpose of this study is to attempt to test the relationship between the amounts of security deposit and the expected price rise rate in order to see if the lessor is utilizing the security deposit for leverage purpose. Empirical analysis show that it can not find the explicit evidence that the security deposit is utilized for leverage purpose in the retail rental market. Consequently the characteristics of security deposit are explained by risk premium such as the non-payment of monthly rent and the tenant's credit.

The purpose of this study is analyzed by using the ARCH model to find the behavior in reits returns of monthly korean reits during january 2002 to may 2014. Empirical results here show that there are statistically significant conditional heteroscedasticity during the period in rising returns. And also, this paper has analyzed the ARCH-M model in K-reits returns to find the volatility in conditional returns and variance as time goes. It is found that conditional returns and variance is the positive relationship even if the statistical significance is low. This results indicate the partial existence of trade-off between returns and risk.

First, most of the respondents want to live in suburban house of medium size(about 60 to 100㎡) and prefer to live near their children in the Metropolitan area after retirement in the future. Second, about half of the respondents are interested in specialized facilities for senior citizens such as Silver Town or Senior Affordable Housing. Almost 50% of them have intent to move to those facilities after retirement. The main reason to this preference is that they can receive professional care without imposing burden to their children. But they perceive expenses required to live those facilities as biggest obstacle. They think appropriate size of living space in the facilities is about 50㎡. Third, they want medical facilities in the first place, leisure and recreational facilities and sports facilities are followed as attached facilities.

This study focuses on finding determinants of investment return through empirical analysis of total return on individual investment and how these determinants could effect investment decisions and investment strategy. Since determinants of income returns and capital returns are different, discovered total return, which are composed of sum of those two returns, could be offset or reinforced by determinants of the each return. Seoul office market’s investment return was greatly influenced by Capitalization rate and difference of Cap rate spread which shows risk and opportunity in the real estate investment. This symbolizes, capitalization rate and Cap rate spread is not just an index reflection of the market, further more significant contributor in determining total returns. Return was also affected by holding period, investment behaviour, risk-free return rate and macroeconomics such as difference in KOSPI. But general characteristics such as location or size showed minimal impact on total returns. This study is differentiated by calculating total returns through repeat sales, influence of macroeconomics analysis and investment behaviour on returns by determinants derived from total returns. This study proves the strong relationship between capitalization rate and total returns. It also reveals factors that affect Capital value gains beyond rent increase rate and inflation rate.

In order to smooth and revitalize the reconstruction projects, it is generalize the model and structure to calculate the uncharged share rate. If we can create the standard formula for calculating the share rate and share the related data for any regular members of the unions to calculate the uncharged share rate, it would be possible to reduce the trials and errors in the process of selecting the contractors or in the progress of reconstruction projects. It would also smooth the reconstruction projects that are spontaneously led by the residents for the improvement of urban environment as a part of urban renovation projects.

There is a need to enable the execution officer to require the occupant, the debtor or the real estate owner to present related explanatory materials in drawing up the survey report of the present situation, the appraisal report and the statement of the sold building in relation to the building other than presented and the accessoryㆍ annexment. It was emphasized that the court of execution might be required to make active use of the right to interrogate in relation to it.

The object of this study is to suggest worth of the historical and the need of preservation, and to find out architectural characteristics and types of modern catholic church architecture between 1920s and 1990s, in Daejeon area. In case of cathedrals in Daejon area, the altars are usually westwards and the entrances are usually southwestwards and they reveal free plain types, which are not included in modified gothic type or specific type. Cathedrals which are constructed in early days reveal romanesque styles and modified gothic styles, but after 1960s, they reveal diverse elevated styles which are suitable to the time and out of typical forms. In 1920s and 1930s, one-storied brick cathedrals are built with red blocks and grey blocks and from the late 1960s they are built as multi-storied RC concrete structure and the outer walls are finished with water paint.

This study, in a bid to help solve this problem, tried to analyze with corroborative evidence how the factors of supply and demand for newly built apartments for sale in every city in the nation from Jan. 2000 to Dec. 2009had impact on the unsold apartments. The results suggested that the determining factors leading the apartments not to be sold were the number of apartments supplied, sales price of the apartments, population increase rate, and interest rate. So it can be summarized that the increase in the apartments supplied, excessively soaring price of apartments, reduction in population increase rate, etc. interacted multiply in decreasing demand for newly built apartments for sale, bringing about substantial number of apartments not being sold. Thus, it is our belief that, in consideration of the these aspects, the government has to implement its future policy to resolve the issue of unsold apartments, by encouraging the supply of apartments taking into account the local demand, and by restricting excessive increase in apartment prices, and by keeping the interest rate low, so that consumers’ demand for newly built apartments increases.