• Title/Summary/Keyword: Housing Finance

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Current Status of Housing Development Project Finance and Its Policy Implications (주택개발 프로젝트 금융의 현황과 정책과제)

  • Park, Won-Seok
    • Journal of the Korean association of regional geographers
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    • v.11 no.4
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    • pp.511-522
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    • 2005
  • This paper aims at analyzing the current status, characteristics and problems of housing development project finance firstly, and secondly, examining the policy measures in order to enhancing the housing development project finance systems. The main results of this paper are as follows. Project finances are very activated in the housing development projects, especially, apartment development, since 2001. But most of housing development project finance are not virtual project finance, but conditional corporate finance, because most of project finance didn't uses bankruptcy remote. Therefore, the main policy measures in order to activate effective growth of project finance are, first, institutionalizing of project finance, second, enhancing the feasibility study capabilities of finance companies, third, using the real estate funds effectively, and forth, networking housing development project finances with long-term mortgage finances.

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Elasticity of Demand for Urban Housing in Western China Based on Micro-data - A Case Study of Kunming

  • Zhang, Hong;Li, Shaokai;Kong, Yanhua
    • The Journal of Industrial Distribution & Business
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    • v.7 no.3
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    • pp.27-36
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    • 2016
  • Purpose - Considering the importance of housing needs to real estate market, domestic studies on real estate prices from the perspective of demand are basically based on macro-data, but relatively few are associated with micro-data of urban real estate demand. We try to find a reliable relation of elasticity of demand and commercial housing market. Research design, data, and methodology - In this paper, we have derived housing demand theoretic method and have utilized micro-data of residential family housing survey of downtown area in Kunming City in October, 2015 to estimate income elasticity and price elasticity of housing demand respectively and make a comparative analysis. Results - The results indicate that income elasticity and price elasticity of families with owner-occupied housing are both larger than those of families with rental housing. Income elasticity of housing demand of urban residential families in Kunming is far below the foreign average and eastern coastal cities level, however, the corresponding price elasticity is far higher. Conclusions - We suggest that housing affordability of urban families in western China are constrained by the level of economic development, and the current housing price level has exceeded the economic affordability and psychological expectation of ordinary residents. Furthermore, noticing the great rigidity of housing demand, the expansion space of housing market for improvement and for commodity is limited.

on the Risk Analysis of Project Finance in BTL Project (주거부문(住居部門) BTL사업(事業)에서 프로젝트금용의 위험분석(危險分析)에 관한 연구(硏究))

  • Song, Kyu-Ryol;Jung, Eul-Kyu;Im, Chil-Soon
    • Journal of the Korean housing association
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    • v.17 no.6
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    • pp.83-90
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    • 2006
  • The purpose of this study is to apply efficiently a successful Project Finance in BTL. To use Project Finance, it is necessary to Risk Analysis of each work step. This Risk Analysis have to repeatedly progress in overall Project Process. The differences between Corporate Finance and Project Finance are remarkably appeared in Risk Allocation and Limited Resource. To use successful Project Finance in construction industry, first, raising project confidence, second, technical : economical : lawful evaluation by Finance Expert, third, Income Guarantee for Lender or Consortium of Lending Banks, forth, Leverage Effect of Project Sponsor must be preceded.

The urban household's housing fund and its contributing factors according to the type of housing mobility (도시가계의 주거이동유형별 주택자금규모와 관련변수에 관한 연구)

  • 김순미
    • Journal of the Korean Home Economics Association
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    • v.35 no.2
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    • pp.95-110
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    • 1997
  • The purpose of this study were 1) to identity housing fund by the type of housing mobility and 2) to analyze the variable contributing to housing fund by the type of housing mobility. For these purposes, the 1993 KHPSD data was used and the sample in this study consisted of 2,796 couple households. Statistics employed for the analysis were frequencies, means, univariate analysis and multiple regression analysis. As the results, the composition and the amount of housing fund according to the type of housing mobility, were different respectively. Housing fund was consisted of previous housing sales price, savings deposits, loans, inheritance, subsidy, and personal debts. Households who already own houses used housing finance for their housing fund easily while renters were at a disadvantage to use housing finance. Moreover, among the contributing factors, home ownership, number of family member, residence, average monthly income, average monthly expenditure, husband's education attainment, satisfaction with housing, husband's job, and the type fo housing were positively associated with the amounts of housing funds. However, duration fo residence tended to negatively related to the amounts of housing funds.

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Mortgage Broker System and Policy Recommendations in Housing Finance Markets (주택담보대출 금융시장에서 Mortgage Broker 역할과 제도화방안 연구)

  • Kim, Yong-Chang
    • Journal of the Korean association of regional geographers
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    • v.11 no.6
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    • pp.620-639
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    • 2005
  • In terms of loan transactions, mortgage volume secured by housing in Korea is the most important market share. Hitherto housing finance policies are treated as a kind of property pricing policy. So it is time to import financial systems on behalf of the mortgage loan consumers like a mortgage broker. A mortgage broker is an intermediary that brings a borrower and a creditor together to obtain a mortgage loan. The broker takes the application, performs a financial and credit evaluation, produces documents, and closes the loan. Especially mortgage brokers present themselves as specifically acting in the interest of the consumer by shopping on behalf of the consumer for the best product that meets the consumer's needs and financial circumstances. The paper investigates the economic role of mortgage broker, foreign systems focused on USA, UK, Japan, and characteristics of Korean housing finance markets. Finally the paper provides policy recommendations about Korean mortgage broker system composed of licensing type, uniform professional practice standard, educational requirements.

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Workforce Entry Preparers' Post-College Housing Expectations and Perception of Housing Cost Burden (예비 사회진출자의 졸업 후 주거에 대한 기대 및 주거비 부담에 대한 인식)

  • Lee, Hyun-Jeong
    • Journal of the Korean housing association
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    • v.24 no.4
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    • pp.29-37
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    • 2013
  • The purpose of this study was to explore college students' expectations on post-college housing and sources of finance to afford housing costs; and perception of housing cost burden. Between May 28, 2012, and June 17, 2012, a questionnaire survey was conducted to undergraduate students in university-A located in non-capital region and 465 useable responses were collected. Major findings are as follows: (1) About 60% of respondents expected to live apart from their parents or relatives within two years from college graduation; (2) Majority of respondents who expected to live apart from their parents or relatives expected to rent housing units and compact non-traditional housing types such as studio units; (3) Major source of finance the respondents expected to afford post-college housing costs was financial supports from their parents and families; (4) Housing cost burden were perceived to have influence even on job decision and respondents with lower parents' income perceived housing cost burden more influential; and (5) In spite of respondents' low financial independence to afford post-college housing costs, finding housing units in areas with relatively lower housing costs seemed not to be an important consideration when choosing post-college housing.

UK Social Housing and Housing Market in England: A Statistical Review and Trends

  • Schmickler, Arno;Park, Kenneth Sungho
    • Land and Housing Review
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    • v.5 no.3
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    • pp.193-201
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    • 2014
  • Around 80% of the 63 million people in the UK live in urban areas where demand for affordable housing is highest. Supply of new dwellings is a long way short of demand and with an average annual replacement rate of 0.5% more than 80% of the existing residential housing stock will still be in use by 2050. A high proportion of owner-occupiers, a weak private rental sector and lack of sustainable financing models render England's housing market one of the least responsive in the developed world. As an exploratory research the purpose of this paper is to examine the provision of social housing in the United Kingdom with a particular focus on England, and to set out implications for housing associations delivering sustainable community development. The paper is based on an analysis of historical data series (Census data), current macro-economic data and population projections to 2033. The paper identifies a chronic undersupply of affordable housing in England which is likely to be exacerbated by demographic development, changes in household composition and reduced availability of finance to develop new homes. Based on the housing market trends analysed in this paper opportunities are identified for policy makers to remove barriers to the delivery of new affordable homes and for social housing providers to evolve their business models by taking a wider role in sustainable community development.

USE OF OUTPUT SPECIFICATIONS IN PFI HOUSING PROJECTS

  • Patrick T.I. Lam ;Albert P. C. Chan ; Akintola Akintoye ;Arshad Ali Javed
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.389-394
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    • 2011
  • In many parts of the world, low cost housing used to be built and maintained by the governments, based on designs and detail specifications prepared by the public sector with construction carried out by contractors. Results vary due to differences in design standards, workmanship and property management, depending also on the neighbourhood's care of the estates and their pattern of usage. In the UK, where Private Finance Initiative (PFI) has been used for infrastructure projects, there have been successful cases of city estate being transformed by PFI. These PFI housing schemes involve new-build, refurbishment as well as facility management. Unlike traditional construction, which is based on prescriptive specifications, PFI housing is based on output specifications. A study has been undertaken to compare the two specification approaches as they are applied to housing estate. Results are enlightening and serve as good reference to cities such as Hong Kong SAR and Singapore, where public housing provisions have been a major concern of their citizens as the building stock gets older.

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Housing Policy Capacity and Indonesian Response to the COVID-19 Pandemic

  • SURURI, Ahmad
    • Journal of Wellbeing Management and Applied Psychology
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    • v.5 no.4
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    • pp.11-17
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    • 2022
  • Purpose: This study discusses how Indonesia's response to the Corona Virus Disease-19 pandemic based on the perspective of housing policy capacity which consists of resources, organizations, and networks, politics, systems, and finance. Research design, data and methodology: This study used a qualitative method through a literature review. Data collection techniques were carried out by searching various sources and literature related to housing capacity theory and various data on Indonesia's response to the Covid 19 pandemic. Based on a literature review, this study adapted and modified the five components of capacity, namely resource capacity, organizational and network capacity, political capacity, system capacity and financial capacity in Indonesia in responding to the Covid-19 pandemic. Data analysis used analytical themes which consist of understanding the data, generating initial codes, looking for themes, reviewing themes, defining and naming themes, producing of manuscripts. Results: The results show that the weakness of the system capacity greatly affects Indonesia's housing policy capacity in responding to the Covid-19 pandemic and on the other hand the five housing capacities are an integrated process within the housing policy framework in Indonesia, especially to overcome the Covid-19 pandemic. Conclusions: The findings of this study are the importance of building a system capacity that is directly integrated with housing policy and the strengthening of the resources capacity, organizations, and networks, politics, and finance in the context of Indonesia's housing policy, especially in dealing with the Covid-19 pandemic situation.

Empirical Analysis on Use of Mortgage Loan in Beijing of China (중국 베이징 도시가구의 주택담보대출 이용실태 분석)

  • Kim, Do-Hoon;Kim, Jin-Soo
    • International Area Studies Review
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    • v.16 no.3
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    • pp.135-155
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    • 2012
  • The objective of this study was to empirically analyze how Chinese urban residents use mortgage loan in their purchase of houses. For the research purpose, 205 households were surveyed on use of housing finance in Beijing, using prepared questionnaires in advance. The survey result showed that 39.5% of the respondents used mortgage loan in their housing purchase in Beijing. Most of the mortgage loan users got their loans from four state-owned commercial banks. This implies that the government could effectively govern the housing market by managing qualifications and interest rates under the government control. The households who did not use mortgage loan raised the fund mostly from own capital and their parents' money. In general, it was found that the Chinese, besides mortgage loan from commercial banks, rarely depend on outside sources. The dichotomous logistic analysis by logit model showed that socio-economic variables such as age, income, housing price and entry into the housing provident fund had significantly positive effects on the use of mortgage loan in the purchase of housing.