Real Estate Regulation Research Articles

서울특별시 도시재생전략계획 변경이 호텔 부동산에 미치는 영향

This paper investigates the effects of the Seoul Metropolitan Government’s urban regeneration strategy plan revision on the hotel real estate market, focusing on legal scrutiny and support measures. The introduction outlines the significance of Seoul’s urban regeneration policy and introduces the potential implications of the revised strategy plan on the real estate market. Particularly emphasized is the role of hotel real estate in local economies and the tourism industry, highlighting the necessity for legal regulations and support measures. The paper is structured into three main sections. Firstly, it provides an overview of the current status and characteristics of Seoul’s hotel real estate market, including investment trends, price fluctuations, and key influencing factors. Secondly, it discusses the Seoul Metropolitan Government’s urban regeneration strategy plan and its amendments, elucidating their implications for the hotel real estate market. Lastly, it delves into the anticipated impact of these changes on the market and proposes corresponding strategies. This includes analyzing the effects of current real estate regulations and predicting the repercussions of the revised urban regeneration plan on the hotel real estate market. Additionally, it suggests legal and supportive measures to ensure sustainable growth and development in Seoul’s hotel real estate sector. In conclusion, the paper proposes policies aimed at revitalizing and sustaining growth in Seoul’s hotel real estate market. Recommendations include easing real estate regulations, enhancing investment attractiveness, strengthening public-private cooperation, and bolstering legal protection for investors. These proposals aim to foster sustainable development and contribute to the economic and tourism vibrancy of the region.

Shifting Paradigms in The Wake of Real Estate Regulation: A Case of Ahmedabad

Shifting Paradigms in The Wake of Real Estate Regulation: A Case of Ahmedabad

Impact of Rera (Real Estate Regulatory Authority) on Consumer Buying Behaviour

Since a long time, there have been a greater number of calls for better transparency and accountability in real estate transactions. The laws were too ambiguous, the recourse methodologies opaque, the homebuyers unorganized, and the legal process overburdened. According to the Press note report released by Real Estate Regulation and Development Act (RERA) was approved by the Cabinet in May 2016. Real estate is a state-owned entity, and its execution and operations must be executed by every single state and government separately. It also has a reserved right to make necessary changes in the law if necessary. In India, Maharashtra is the first state who has implemented Real Estate Regulation and Development Act for the first time with effect from April 1, 2017. This is most important to implement because in Maharashtra, Mumbai is the leading real estate market in India it has residential as well as commercial properties. Hence, the implementation of this act in Maharashtra significantly plays an important role

Enlightenment of Hong Kong's Real Estate Regulation to the Mainland

At present, the domestic housing price is rising, and the housing problem is gradually exposed, especially for the middle and low income groups, which is difficult to solve the housing problem. It has affected the process of urbanization and has become a problem that the domestic government has to solve. This paper needs to study how to solve the existing contradictions under the current domestic housing system and can put forward plans for the future development of the housing market. Since the 1950s, in order to achieve the goal of "home ownership", Hong Kong has explored and gradually formed a public housing policy system of "leasing first and selling only second". Many problems have also been exposed in the process of achieving results. This paper sorts out the three stages and regulation policies of the Hong Kong government on the property market, analyzes the gains and losses of the Hong Kong government on the housing market in recent years, summarizes the success and shortcomings of the Hong Kong public housing policy, and provides inspiration and reference for the formulation of public housing policies in mainland cities.

Research on Product Decision of Real Estate Project Based on Big Data Analysis

The characteristics of product decision-making of real estate projects are determined by the particularity of real estate projects. Because the development and construction period of real estate projects is long, the investment is large, many parties participate, there are many risk factors in the development process, and after the development is completed, it is unrepeatable, and most of them aim at profit. Real estate regulation and control is a long-term work, and it is urgent to establish a set of operational analysis and decision support platform that runs through the whole chain of real estate and connects national and local levels, so as to realize real-time data aggregation, online calculation of indicators, rapid organization of content, rapid assembly of functions and flexible customization of services. In this paper, BD (Big Data) technology is used to collect real estate-related market data such as land, housing and finance, macro-statistical data such as population, society and economy, as well as real estate policy and public opinion information, to carry out system design and technology development, and to establish a real estate DSS(Decision Supporting System) based on BD. The system is helpful to carry out dynamic monitoring, analysis and evaluation of the real estate market, and effectively supports the product decision-making of real estate projects.

정비지원계획구역 지정이 부동산 가격에 미치는 영향에 관한 연구

This study investigated the impact of the maintenance support plan system introduced in September 2021 on real estate prices for rapid housing supply in Seoul. In particular, while designating the maintenance support plan area, the land transaction permit system and the base date for calculating rights were designated for the purpose of preventing the rise in real estate prices, and the impact of these policies on real estate prices was analyzed. Based on the actual transaction price, this study confirmed whether real estate prices were stabilized using a double-difference method that measures policy effects before and after the public offering by dividing into groups that applied real estate regulations and groups that did not. As a result of the analysis, it was found that there was no effect of suppressing the rise in real estate prices due to the application of the land transaction permit system to stabilize housing prices and the base date for calculating rights. Therefore, based on the results of this study, it is necessary to prepare additional measures to block speculative demand when designating a future maintenance support plan.

ASSESSING IMPACT OF DEMONETIZATION AND RERA ON REAL ESTATE SECTOR

The Real Estate Sector is an aggregate made up of the housing, industrial, office and retail sectors; wherein, housing sector plays the most significant role. At any point in time, this sector may not be at demand-supply equilibrium because of frequent exogenous parameters and several uncertainties present. Sudden announcement of demonetization on 8th November 2016 and implementation of Real Estate Regulation (and Development) Act (RERA), 2016 with effect from 1st May 2017 have severally affected demand-supply equilibrium in Indian Real Estate Sector. Demonetization has adversely affected the Real Estate Sector with cash transactions getting eliminated and wiping out black money from the sector. Further, implementation of RERA aims to create a more transparent environment for property buyers by increasing the accountability of developers and regulating the Real Estate Sector. Therefore, assessment of impact of demonetization and RERA on Real Estate Sector has become inevitable to understand volatility resulting into the sector due to them and perspectives of important stakeholders about them.In this research paper, assessment of impact of demonetization and RERA on Real Estate Sector in the city of Pune has been carried out using analysis of Registrations of Documents, Revenue Collections, Annual Statements Rates and Market Rates of housing properties, and conducting primary survey of experts, developers, and buyers.

Legal status of the real estate organization

The article talks about the positive experience of foreign countries in the field of real estate, which is directly related to the real estate sector today. It is known that in Article 83 of the Civil Code of the Republic of Uzbekistan, property is divided into immovable property and movable property as an object of civil rights, including land plots, underground resources, buildings, structures, perennial trees and other property integrally connected with the land, i.e. objects that cannot be moved without causing disproportionate damage to their intended purpose, the legislation stipulates that other property can also be included in the list of immovable property, and the features of acquisition of rights to immovable property and their cancellation shall be determined by legislation. The article describes the norms of the status and description of real estate in other countries, in particular, Germany and a number of countries. The purpose of the article was to research the problems of legal regulation of real estate activity. Also, the disclosure of problems arising in the field of real estate and its solution were also discussed. In conclusion, it was concluded that in the development of real estate activity, first of all, it is necessary to study foreign experience in the field of real estate regulation.

Spatial‐temporal evolution characteristics of residential land prices based on the 2010–2019 land transfer data in China

AbstractStudying spatial‐temporal change in residential land prices (RLP) can help implement real estate regulations to promote the healthy development of the residential land market. This study applied the urban scaling law to explore the spatial‐temporal pattern of RLP from 2010 to 2019 in China. We found rapid growth in RLP across China from 2010 to 2019, with a growth rate of 179.12%. Among them, the Eastern Region had the highest RLP and growth rates. Furthermore, differences in RLP between large cities and small‐medium cities widened, indicating a trend of the Matthew effect in prefecture‐level cities. Moreover, the scale‐adjusted metropolitan indicator (SAMI) indicated urban agglomerations including Beijing‐Tianjin‐Hebei (BTH), Yangtze River Delta (YRD), Guangdong‐Fujian‐Zhejiang Coastal (GFZ), and Pearl River Delta (PRD) located in the Eastern Region had higher RLP than urban agglomerations with the same population size. In addition, the SAMI also highlighted disproportionately high RLP in some small‐medium cities compared to equivalent cities, warranting regulatory policy attention.

Research on Influencing Factors of Second-Hand Housing Price in Haidian District, Beijing

The housing issue is an economic issue as well as an issue of people's livelihood, especially in megacities like Beijing, where housing prices in the second-hand housing market fluctuate greatly, so its influencing factors have become the focus of attention. Studying the influencing factors of housing prices in the second-hand housing market can provide reference for the government to formulate appropriate real estate regulation policies and predict the development trend of housing prices in the future. This article collects nearly 3,000 groups of public second-hand housing individual transaction data from the Lianjia website in the domestic second-hand housing market. The time span of the data is from June 2020 to June 2021. After data cleaning and descriptive statistical analysis of the acquired data, we set the total price of the house as the explained variable, and the number of rooms, the area of the house, the decoration, the floor, and the unit price of the house are used as the explanatory variables. We establish a multiple linear regression model, then test and optimize it. The results are as follows: in the second-hand housing market of Haidian District, if the second-hand house has a large construction area, a large number of rooms, a high unit price and has been renovated, the total price of the house will be high.

Impact of new talent settlement policy on housing prices: Evidence from 70 large and medium-sized Chinese cities.

Since 2017, Chinese cities have set off a wave of talent migration, with major cities joining the talent war and issuing new talent settlement policies that might stimulate the real estate market through the inflow and outflow of human capital. However, the effects of new talent settlement policies on housing prices have not been extensively studied. This study used a difference-in-differences model to examine the causal effects of new talent settlement policies on housing prices in China based on data from 70 large and medium-sized cities. The results showed that new talent settlement policies had positive effects on housing prices, and the effects revealed pronounced regional heterogeneity: they were more significant in the eastern region, first-tier, and new first-tier cities, and varied across major migration zones. Further, the varying policy tools in the new talent settlement policies had disparate effects on housing prices. Thus, we recommend that new talent settlement policies must be coordinated with the goals of real estate regulation and reasonable regional standards, and that the policy tools should be tailored according to the actual conditions of cities.

Performance Evaluation and Improvement Countermeasures of the Real Estate Regulation Policy in Dongguan

With the development of modern society, the real estate industry is closely related to people’s production and life, and it is an important industry related to the national economy and people’s livelihood. Local development not only needs the real estate to promote economic prosperity, but may also harm the development of the real economy, bringing potential financial risks. In order to alleviate the real estate problems and contradictions in the process of development, the Dongguan government has frequently introduced various relevant control policies, but the housing price rises too fast, the supply and demand imbalance in the real estate market, the supply structure imbalance and other problems are still serious. Practice shows that the real estate industry can develop more smoothly by combining the market’s selfregulation with the government’s macro-control. This paper introduces the real estate market and policy of Dongguan City. On this basis, combined with the relevant data of the real estate industry in Dongguan, the effect of the real estate policy was evaluated, and the advantages and shortcomings of the implementation of the real estate control policy in Dongguan were analyzed. Through quantitative and qualitative analysis methods, this paper further screens the primary indicators for the different impacts brought by the performance of the real estate regulation policies, and adopts the principal component analysis method to quantitatively evaluate the performance of the real estate regulation policies in Dongguan City during 2019-2021. Finally, this paper puts forward suggestions to improve the real estate regulation policies in Dongguan City.

The Impact of Commercial Real Estate Regulations on U.S. Output

The Impact of Commercial Real Estate Regulations on U.S. Output

부동산 규제 및 완화 정책이 아파트 매매가격에 미치는 영향 분석: 서울과 수도권 아파트 가격을 중심으로

본 연구는 부동산 규제 및 완화정책이 서울·수도권 및 6대 광역시 아파트 매매가격 지수에 미치는 영향을 분석하였다. 이를 위해 2004년 1월부터 2021년 12월까지 아파트 매매가격지수 및 거시경제지표를 활용하여 분석을 실시하였다. 분석결과 부동산 규제정책은 6개 광역시 아파트 매매가격, 서울아파트 매매가격 및 강남 아파트 매매가격에 통계적으로 유의미한 정의 영향을 미쳤다. 이는 부동산 규제정책의 정책목표와 달리 6개 광역시 아파트, 서울 아파트 및 강남아파트의 매매가격을 상승시키는 효과를 보여 규제의 역설을 확인하였다. 한편 부동산 완화정책은 수도권아파트 매매가격, 6개광역시아파트매매가격, 서울아파트매매가격, 강남아파트매매가격, 강북아파트 매매가격에 통계적으로 유의미한 부의 효과를 주는 것으로 나타났다.

Does Indian real estate regulation protect urban homebuyers? policy implications

Does Indian real estate regulation protect urban homebuyers? policy implications

Evaluation Model of Tourism-Driven Real Estate Economic Growth Point Based on AHP

The economy of real estate is intimately connected to people’s quality of life, living standards, and living situations, all of which are extremely important in economic life. In order to better understand the impact of tourism-driven real estate on economic growth, based on AHP, this paper establishes an evaluation model of tourism-driven real estate economic growth. Based on the influencing factors of tourism real estate development, the evaluation model is built in this study of the tourism real estate development model by AHP and determines the optimal model according to the evaluation results. Through the application of the AHP model, the effect of real estate regulation policy is evaluated. The housing prices are affected not only by the influencing factors of housing prices in the pressure indicators, but also by real estate control policies. The model can effectively assess the economic growth point of real estate, propose real estate-specific guiding alternatives for economic growth and development, and ensure that the real estate market develops in a healthy and orderly manner.

Limited Decentralization: Understand China’s Land System from the Perspective of Central-Local Relation

Central-local relation is a critical but overlooked perspective for understanding China’s land system. During the last decades, the central government has decentralized considerable autonomy of land development to local governments to encourage the latter to adopt their advantages in local information for economic growth. However, the local government pursues more development-oriented goals, leading land to be an endowment for jurisdiction competition, fiscal revenue maximization, and officials’ career advancement at the local level. The discretion of local government, however, is constrained by the central authority. Land quotas, land approval, and, perhaps most importantly, nomenklatura, all of which are controlled by the central government, undermine the credibility and irreversibility of decentralization. We call such a central-local relation limited decentralization, a framework that could be applied to explain a range of land issues such as farmland protection and real estate regulation. Although we believe the central government is the principal determinant of the degree of decentralization, we also acknowledge that the initiative of local governments is essential. The interactions between central and local governments result in rights definition, power distribution, and, consequently, land use policy change over time.

СУТНІСТЬ ТА КЛЮЧОВІ ОЗНАКИ ЖИТЛОВОЇ НЕРУХОМОСТІ ЯК ЕКОНОМІЧНОЇ КАТЕГОРІЇ

The article substantiates the essence of the definition of "residential real estate", as well as its key features as an economic category. The interpretation of the concept of real estate in the normative legal acts of Ukraine is analyzed. It has been established that the concept of "residential real estate" is based on three components: first, on a direct understanding of what refers to real estate in general and what is its interpretation in the modern legal space; secondly, criteria for dividing real estate into residential and non-residential; thirdly, the formation of traditions of understanding real estate as "residential" in the national consciousness. It is proposed to consider residential real estate as a set of land plots and objects located on them, which may lose their value or purpose when trying to change their location. The main characteristics of the real estate object are highlighted, in particular, it is the connection with the land; form of consumption; the possibility of changing the location; form of functioning; the method of transferring value in the production or process of loss of consumer properties; duration of use; social significance; technical and technological characteristics. The issue of the development of the residential real estate sector should be considered at all levels of state administration with the optimization of points of contact with other industries and the creation of positive market relations. The main criteria for the division (distinction) of real estate objects are given. The fact that with the implementation of the territorial reform there is a division of real estate into state-owned real estate and real estate that is an asset of the territorial community is emphasized. Such real estate objects can be divided into two groups: the first – those that belong to the territorial community by property rights; the second – those that are located within the territorial community, but do not belong to the community (are not communally owned). It is noted that approaches to the definition of real estate objects in different countries may differ, taking into account their legal traditions and the level of development of social relations, and countries independently define things that are immovable and to which the norms of real estate regulation apply.

Research on the Impact of Market Concern for Real Estate Policy on Housing Prices: Evidence from Internet Search and Hedonic Price Theory

To avoid the effects of systemic financial risks caused by extreme fluctuations in housing price, the Chinese government has been exploring the most effective policies for regulating the housing market. Measuring the effect of real estate regulation policies has been a challenge for present studies. This study innovatively employs big data technology to obtain Internet search data (ISD) and construct market concern index (MCI) of policy, and hedonic price theory to construct hedonic price index (HPI) based on building area, age, ring number, and other hedonic variables. Then, the impact of market concerns for restrictive policy, monetary policy, fiscal policy, security policy, and administrative supervision policy on housing prices is evaluated. Moreover, compared with the common housing price index, the hedonic price index considers the heterogeneity of houses and could better reflect the changes in housing prices caused by market supply and demand. The results indicate that (1) a long-term interaction relationship exists between housing prices and market concerns for policy (MCP); (2) market concerns for restrictive policy and administrative supervision policy effectively restrain rising housing prices while those for monetary and fiscal policy have the opposite effect. The results could serve as a useful reference for governments aiming to stabilize their real estate markets.

Real Estate Regulation Act (RERA) and Its Relevancy

The Real Estate Regulation Act (RERA) plays an important role in India. Also, underneath the Act, resolution of complaints and disputes by the important Real Estate Regulatory Authority (RERA) and therefore the realty legal proceeding tribunals are time-bound that indicates the intention of the legislators to guard the interest of the shoppers. Moreover, the Act contains many provisions that address the lacunae within the sector through strict liabilities for promoter irregularities and a revelation framework, wherein, they're needed to compulsorily register for realty comes and while not the mandatory approvals, comes can't be oversubscribed, advertised, or booked. Also, the Act imposes several legal and business restrictions on promoters and developers to intercommunicate a way of answerableness upon them. It would be pretty honest to state that land sector is probably one among the substantial contributors to economic process and development of Republic of India. This sector has return a protracted approach within the past decade. Yet, the unending delay in housing comes has severely affected the business model of the important estate sector and, additional significantly, has affected the shoppers. In order to manage and minimise the prevailing scenario of delays, the Parliament plan to enact the $64000 Estate (Regulation and Development) Act 2016 (“Real Estate Act”). The new act in each sense intends to safeguard the interests of home patrons and produce in additional transparency within the realty sector. The author has created a shot to focus on what area unit the execs and cons of this Act and the way the enactment of this new assets Act has promoted truthful and clear transactions involving the vendor and buyer of properties regarding the $64000 estate sector and the way this can build the advanced assets procured a better one by transferral in important responsibility and transparency within the assets market.