Kim, J; Lee, S Y and McGeorge, D (2000) A study of real estate trust institutions in Korea. Journal of Construction Research, 1(1), pp. 33-42. ISSN 1609-9451
Abstract
In Korea, Real Estate Trust Institutions were introduced in the early 1990s with the purpose of satisfying the burgeoning demands of the property market. Real Estate Trusts were started in order to protect the real estate market from speculation and to encourage the efficient use of land. The other purpose of Real Estate Trusts in Korea was to achieve a competitive advantage in real estate development for local firms. Despite the above intentions, the Real Estate Trust companies have, in the wake of the Korean economic crisis of 1997, been in a difficult situation because of asset deflation and recession. The authors analyse the problems of Real Estate Trust companies in Korea and propose an alternative solution. As an alternative, the introduction of institutions similar to the Australian Listed Property Trust (LPT) or the US Real Estate Investment Trust (REIT) is considered. The proposed new institution - Listed Real Estate Investment Trust in Korea (K-REIT) - would establish new principles of real estate investment and the securitization of real estate.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | development; funding; investment; property; real estate; trust institutions |
| Index terms: | recession, real estate development, property market, real estate investment, land, competitive advantage, funding, real estate |
| Subjects: | real estate economics, economic analysis, economic development, market analysis |
| Topics: | Procurement, Urban Studies, Research Practice, Business Strategy |
| Descriptive scope: | 2 PC |
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