REB: Korea Real Estate Board

First year of preparation

2002

Type of Statistics

Survey Statistics

Purpose of Survey

Market information is provided by measuring the outcomes of investments in commercial real estate and identifying market trends based on appraisals of asset values and a leasing information survey of countrywide commercial real estate (offices and stores). Such information is used in the revenue type appraisal method when surveying and appraising officially notified reference land prices, and the results are used as reference data for the establishment of real estate policies in order to contribute to the establishment of integral real estate transaction orders.

Survey Cycle

Dissection

Range of survey

10,661 general buildings (824 office buildings, 5,054 middle & large store buildings, and 4,783 small store buildings) and 29,500 aggregate buildings

Survey Unit

• Survey of prices and trends based on a field survey of samples and data analysis
  • (Offices) Countrywide, 16 si/do, 52 business zones
  • (Middle and large stores) Countrywide, 17 si/do, 232 business zones
  • (Small stores) Countrywide, 17 si/do, 222 business zones
  • (Aggregated stores) Countrywide, 17 si/do, 222 business zones

Survey Areas

Whole Country

Survey Content

The basic status of sample buildings; the areas and leasing situation of each lessee; and the appraisal of asset values of sample buildings.

Survey Method

Sample survey^*, field survey

Polling System

• STEP01

  Ministry of Land, Infrastructure and Transport

  (Requesting survey/appraisal)

• STEP02

  REB

  (Performance of survey/appraisal and preparation of statics)

Reference time of survey

Last day of the last month of each quarter

Survey Period

About 8 weeks from the first week of the second month of the corresponding quarter

Main History

• 2002 : Conducted a leasing trend survey (yearly).
• 2007년 : Amended the survey cycle (yearly →half-yearly).
• 2009 : Amended the survey cycle (half-yearly →quarterly).
• Q3, 2010 : Expanded the survey areas and samples (1,500 →3,000 buildings).
• Q1, 2012 : Amended the survey system.
  • Survey & appraisal : Korea Association of Property Appraisers ⇒ REB
  • Preparation of statistics : Korea Real Estate Research Institute ⇒ REB
• Q1, 2013 : Expanded the survey areas and samples.
  • Expanded survey areas : 8 si/do →whole country.
  • Survey samples : 3,000 →3,155 buildings.
• Feb. 2014 : Approved the nation-prepared statistics (Statistics Korea, Approval No. 408001).
• Q1, 2014 : Expanded the range, areas, and samples of the survey.
  • 17 si/do (including Sejong-si), 169 business zones / aggregated buildings (stores) 23,000 stores (1,116 buildings)
• Jan. 2015 : Approved the amendment concerning the preparation of statistics (Statistics Korea’s approval No. 2015-9).
• Q1, 2015 : Expanded the range, areas, and samples of the survey.
  • 17 si/do (including Sejong-si), 93 business zones / small stores 1,800 buildings
• Q1, 2016 : Public announcement of the aggregated store leasing price indexes.
• Apr. 2016 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2016-70).
• Q1, 2017 : Increased the samples (general stores 4,131 →4,831 buildings) and redesigned the survey.
• Mar. 2017 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2017-81).
• Q1, 2018 : Increased the samples (general stores 4,831 →5,531 buildings) and redesigned the survey.
• Apr. 2018 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2018-110).
• Q1, 2019 : Increased the samples (general stores 5,531 →6,959 buildings) and redesigned the survey.
• March, 2019 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2019-63).
• Q1, 2020 : Increased the samples (general stores 6,959 →8,387 buildings) and redesigned the survey.
• Apr. 2020 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2020-96).
• Q1, 2021 : Increased the samples (general stores 8,387 →9,837 buildings, aggregated stores 23,000 →29,500 stores) and redesigned the survey.
• Mar. 2021 : Approved the amendment concerning the preparation of statistics (Statistics Korea, Approval No. 2021-52).