대규모 정부프로젝트가 지역부동산시장에 미치는 영향 : 신행정수도건설사례를 중심으로

신행정수도 건설 프로젝트가 지역 부동산시장에 미치는 영향을 분석했다.

When it is time to announce a large-scaled state-governed project, the real estate prices tend to rise so high. The aim of this study is to seek, based on theoretical factors that make influences of large-scaled projects on the market of real estate in the designated areas. Further to the factors, influences on the actual real estate market have been researched, and a survey has been conducted targeted on chiefs of towns and townships, business representatives, CPAs, real estate agents and public servants in charge of economic affairs within the province of Chungnam.

One of the main reasons for the influence research and the survey is because of skyrocketed prices of real estate in Chungnam caused by the state-governed new administrative capital relocation project. Based on analyses of the survey, this study focused on prospective countermeasures for the real estate stabilization policy in the area of project site. It appears that the real estate market is vulnerable to legal regulations, many different types of clients, its non-moveable characteristics and regional limitation. Factors that make influences on the real estate market are divided into two categories: macro-factor and miro-factor which affect pricing and investment.

Socioeconomic- and public administration-related macro-factors are central government's real estate policies, economic fluctuation, inflation, deflation, and demographical changes. Micro-factors, physical and functional factors affecting the value of real estate, include location and projected areas. However, it appears that the unstable local markets of real estate are more into the macro-factors, i.e. the general public's awareness of investment in real estate and real estate stabilization policies from the central government, and expectations for investment in state-governed projects.

Those who answered to the survey tent to have expectations on prospective future development of their communities following the projects. Their expectations boost vitalized investment activities, causing the upward curve in the real estate prices. In addition, those who answered to the questions about investment in real estate considered real estate speculation would draw economic recession with unstable real estate market, eventually making it hard for the state-governed projects to be carried out. Accordingly, we can expect that the on-going awareness towards investment in real estate among the locals in project sites is yet healthy.

The locals who answered to the survey, in general, were well-aware of central government's real estate stabilization policy, but did not put trust in the efficiency of the policy because related policies made by the central government so far has not been consistent. Some people, ironically, would abuse the policies because they understand them so well.

It appears that a state-governed large-scaled project is likely to increase a possibility of real estate speculation among investors, raise the value of real estate in the project site, and make the locals to give too much expectations on future development of their community, drawing real estate boom and the upward curve in real estate prices. On the other hand, the locals are most likely to be influenced by speculating investors, and countermeasures for real estate stabilization are, in nature, follow-ups, whose efficiency would be low.

Thus, related government agencies have had less cooperative relation with one another causing difficulties to proceed national projects in setting up countermeasures and carrying them out. Consequently, large-scaled national projects are most importantly making influences on raising great expectations among the locals as a major factor in changing local real estate market and sustainable vitalization of the market in the long run.

It is, above all, important that aggressive participation from the locals should be made so that their opinions can be reflected on policy-making, and that practical countermeasures for stabilizing of real estate market, minimizing disadvantages the locals could be faced with and turning investment in real estate healthy among the locals and investors.