신도시 아파트 건설의 개발이익 분석 - 분당신도시를 사례로 -

A Study on the Analysis of Betterment from New Town Development - Bundang New Town Case -

1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to analyze the distribution structure of betterment among participants who are related to the development of apartment construction in Bundang new town. (2) RESEARCH METHOD This study was focused on data analysis. The data to calculate betterment of each participant were land price before land development, land compensation price, land development cost, sales price of developed land, construction cost, apartment sale price by constructors, apartment price in real estate market and opportunity cost for constructing off-site infrastructure. (3) RESEARCH FINDINGS In the results of this empirical analysis, the distribution ratios of betterment accrued from apartment development were as follows: land owners 4%, land developer 1%, apartment constructors 14%, and apartment buyers 81%. The imbalance of distribution status is mainly resulted from hard landing of land-housing policy and the imperfection of recapture system. 2. RESULTS This study offers three alternatives to solve distributive imbalance problem. 1) It is strongly suggested introducing a「Leasehold Land Tenure System」for a part of the land for apartment construction in new town which is executed by public developer. 2) The「Connecting System of Apartment Price and Construction Cost」deserves to be reintroduced. 3) A「Qualification System of Buying Apartment and Mandatory Residence Period」should be adopted. 3. KEY WORDS Apartment in new town, Betterment, Recapture, Leasehold Land Tenure System