연구 요약
연구 요지 (AI)
부동산투자회사(REITs)의 시장 현황과 활성화 방안을 연구했다.
초록
July 2003, There is terminated a discussion about the large-scale properties make a securitization so that our market can be liquid. As a result, We started the real estate indirect investment. But after the enforcing the Real Estate Investment Trust Act, REITs market isn't activity in spite of many expectations. The problem of taxation divide REITs drawing By General REITs and CR-REITs. CR-REITs gave taxation favour but General REITs didn't give that favour. Now, we have 5 CR-REITs however didn't exist General REITs in the current REITs market. This point of time, we make a study of improvement of REITs and REITs market in Korea.
The Current established REITs have almost buildings which is used for official space for their assets. And their assets are managed "Sales and Lease Backed". As a result of comparing the price of REITs stocks with the KOSPI Index, the price of REITs stocks are not sensitive about variety causes which are changing price of common stocks. In view of this thing REITs are competitive power as compared with other financial products. For REITs succeed in Korea, It is necessary that Real Estate Investment Trusts Act are changed for the better. First heavy imposed taxes are reduced.
According for the current Real Estate Investment trust Act, REITs Investor imposes corporate tax and income tax doubly. Simply because REITs is the paper company to make an indirect investment in real estate. We should make taxation which is imposed REITs reduced. Secondly, Real Estate Investment trust Act limit that REITs imnest more than 30 percent of its capital in new development. But if REITs shows a reasonable rate of return about new development, more than 30 percent of capital of investment are allowed. Finally measured real estate and REITs index and the newest real estate management should be applied for efficiency real estate management.
Because fitting management increase real estate capital gain. The Real Estate Investment trust Act will be amended immediately. We get back into the originally purpose which is provide an opportunity to people to investment large-scale properties and make a securities so that our market can be liquid. And we make effort for improvement of REITs and REITs marekt in Korea.
발행 정보
2003. 건국대학교 국내석사 학위논문