| Title |
A Study on the Investment Determinants for Residential Real Estate Development by Investor Perspectives |
| Authors |
Kwon, Jaehong ; Lee, Jaewon ; Lee, Sangyoub |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2020.21.5.029 |
| Keywords |
Residential Real Estate; Investor Perspectives; Real Estate Investment; Investment Determinants; AHP; Fuzzy |
| Abstract |
This study analyzed the importance of factors according to the investor's perspective through a survey of residential real estate experts using AHP and fuzzy theory. Analysis results showed that rent, profitability, traffic accessibility, commercial and infrastructure, and financial regulation are important in common. By expert group, financial and credit groups cited profitability, rent, traffic accessibility, supply and tax benefits, construction and development groups cited traffic accessibility, rent, direct access, profitability, commercial area and infrastructure, and appraisal and evaluation groups cited rent, profitability, transportation accessibility, financial regulation and supply as the most important factors. This showed that it had a preference characteristic that was associated with work. In other words, it focuses most on the financial perspective in investment characteristics, and it values convenience such as accessibility to transportation and commercial districts and infrastructure as its location characteristics. In addition, it was found that easing financial regulations in the market is important to expand investment in real estate. This study aims to help the business feasibility analysis of residential property developers and rational decision-making of general investors who are consumers, taking into account the various perspectives of the expert group. |