부동산투자분석기법을 이용한 원룸주택의 수익률 분석

Profitability Analysis of One-room Apartments Using Real Estate Investment Analysis Techniques

1. CONTENTS (1) RESEARCH OBJECTIVES This research intends to analyze the business index and the profitability (earnings rate) of one-room apartments, a dwelling property, for the purpose of proposing an objective and precise basis required in examining the validity of the one-room apartments in terms of profit, to the investors considering the one-room apartment as a means of investment. (2) RESEARCH METHOD The detailed and thorough purposes of this research is to scrutinize the profit structure of one-room apartments through the business index and profitability manifested in the one-room apartments, and to implement the approximation rule, the ratio analysis rule and the leverage analysis. (3) RESEARCH FINDINGS Summarizing the results of this research, first, the higher the proportion of operating expenses and the amount of debt services, the higher the rate of default on loans. This is because the debt services were not reflected in the repayment portion. In terms of the operating costs, the investment rate of one-room apartments was found to be comparatively lower than the investment rate in other properties, with respect to payment. Second, the leverage effect of the one-room apartment security deposit raises the capital of others (liabilities) to increase the earnings rate of equity capital. While the leverage raises the profitability of investments, it also increases risk. 2. RESULTS A research that takes into account the local characteristics of where the one-room apartment is located is necessary. This is because the local characteristics are likely to influence the operating income and the profitability. Since there is a difference between a research which includes data of tenants that influences the profit of one-room apartments and the one-room property business index and profitability depending on the distance and accessibility, a research that includes these primary factors is necessary.