A Comparative Study on the Investment Intention of Koreans and Chinese in Sustainable Real Estate Development within the Circular Economy

This study aims to compare South Korea and China's sustainable real estate investment intentions in the context of circular economy. Due to the impact of COVID-19, the macroeconomic operation of South Korea and China has been severely affected, leading to a decline in real estate development companies. In the later stage of the epidemic, predicting changes in consumer purchasing needs and maximizing consumers' perceived purchase value has become a new focus of sustainable real estate development in South Korea and China's circular economy. This study uses Rostcm6.0 software to analyze the frequency of keywords in effective reviews and generate a cloud map of keywords. At the same time, a questionnaire survey to verify real estate investment intentions was constructed using quantitative research methods, and the survey was conducted from January to February 2023 through the online survey system. A total of 700 questionnaires were distributed, and 673 questionnaires were effectively recovered (including 278 from South Korea and 395 from China). Statistical methods such as reliability and validity analysis, exploratory analysis, confirmatory factor analysis, correlation analysis and structural equation model analysis were carried out through SPSS 26.0 and AMOS 28.0 software. The findings show that the perceived value of real estate is influenced by multiple factors, including consumers' income status, situational factors, psychological factors, and macroeconomic policies. The perceived value of real estate affects real estate investment intentions. This study is expected to provide basic data for real estate researchers in Korea and China and lay the groundwork for proposing directions for sustainable real estate development within a circular economy framework.