전,월세제도의 이론적 고찰 -모의실험을 통한 투자수익률 계산을 중심으로- = Theoretical Review on Chonse and Monthly Rent System

다국어 초록 (Multilingual Abstract)

`Chonse` is a unique housing lease system which can be found only in Korea. The lessee is obliged to make a deposit, approximately half of the market value of the housing in most case, to the lessor which entitles the lessee to use the property and is to be returned to the lessee when he or she vacates the property upon termination of the contract. This system gained its popularity as an alternative way to raise capital because it had been very difficult for an investor(landlord) to get a loan from a financial institution despite a high return on investment had been promising thanks to constantly rising market value of housing. However, adopting monthly rent system has become more profitable than `Chonse` system for a landlord because of the recent stabilization of the market price of housing. Hence, monthly rent system has been becoming popular at a very rapid rate. From this perspective, this thesis examines if either `Chonse` or monthly rent system satisfies the required rate of return, or, reversely, how much the capital gain should be to satisfy the required rate of return. For this goal, this theoretical review was developed bearing the reality in mind.