후분양제에 있어서 PF지급보증상품도입효과분석

This study set out to research into the ways to settle the decrease in housing supply through the aspects of supplier credit, when the post-construction sales system upon housing was introduced. The effects of the introduction was analyzed based on the cases of actual public housing projects through project financing payment guarantee, which was considered an alternative. The business profile of case business site was analyzed by each situation like, pre-sales, post-sales without applying PF payment guarantee, post-sales with applying PF payment guarantee. The result of the analysis showed that how sales price increased was a decisive fact for the owner's advantage or disadvantage, since there was the relation between the synergy effect of sales price and the increase in interest expense. The result of incremental analysis explained that the owner could obtain an advantage by the rate of climb of sales price, after post-construction sales system was introduced. Therefore, it is not true that post-construction sales system would not be favored by developers but be favorable to tenants, as sales price was estimated by housing price. On the contrary, the increase in sales price would cause unfavorable situation to tenants. Accordingly, housing price should be stable in order to smoothly apply post-construction sales system step by step. In addition, it is advisable that the selection of sales methods could be autonomously decided by the convenience of suppliers and purchasers. Like the result of the study, when PF payment guarantee is applied, the project company would be favorable. It means that the profitable is quite improved only with PF payment guarantee, when the rate of climb of sales price is the same.