| Title |
The Current State and Application of Project Financing followed by Sale after Building System of the Apartment |
| Authors |
Lee, Sung-Rock ; Moon, Hwi-Young ; Lee, Soo-Yong |
| Keywords |
Housing Sale System ; Housing Developing Finance ; Project Financing |
| Abstract |
The supply for the apartment complex in Korea has been accomplished by the sale before building system as a way of institutional means to support massive housing supply in the past. Although this sale before building system has helped the provision of the housing, the necessity of that has been weakened in the current housing market. As this market is changed to emphasize on consumer, the necessity of conversion to sale after building system was raised and finally enforced partially. However, the sale after building system has difficulty in ensuring construction fund and the safety of housing business. So, the diversification in the style of business structure and the strategy for the activation of construction fund will solve these problems. Consequently, this essay examine the change and influence in the construction fund after adopting sale after building system and suggest the appropriate strategy in project financing for providing fund and reducing the risk in construction business. |