The purpose of this study was to analyze the risk factors for each city that may appear during the apartment development project for each city in the first second and third liers. From this point of view, this study first established the concept of real estate development projects in China, examined the current status and characteristics of urban apartments in China, and conducted an empirical analysis of the importance of risks derived by dividing apartment development projects into planning, development preparation, development, and sale stages.
As a result of the analysis, the development planning stage was the most important stage in the first, second, and third lier cities, the pre-sale stage in the first and third liers, and the second and third liers in the development stage. The importance of the last stage was that the first-lier city was in the development preparation stage, and the second and third-lier development stage. As a result of these studies, it was possible to grasp the similar or opposite forms of risks appearing at each stage of each city.
The countermeasures against the risks incurred at each stage are as follows.
In the first development planning stage, transportation infrastructure and accessibility, which have the highest adequacy of development scale, were found to be the highest in the first and second liers. In other words, traffic infrastructure and accessibility were identified as important factors in the development planning stage, which shows the highest importance in the major category. Before development, it is necessary to strengthen the surrounding environmental investigation and movement, and to manage various convenient facilities such as schools and hospitals so that people can conveniently use them. The competitiveness and market analysis of the three-lier cities with their peers were the highest, and the third-line cities are relatively small compared to the first and second liers, so competitiveness with their peers should be recognized more important than transportation infrastructure problems. Risk is managed by sharing information with nearby real estate companies and establishing networks. In the field of development preparation, which shows the second importance, problems such as delays in securing land were the most important in complex importance with figures of the first and second lier. These problems can prevent and avoid risks such as land obstacles by stipulating conditions related to land purchase authorization and permission and establishing a trust network with local government authorization and permission-related departments from the preliminary project evaluation. It came out as a problem related to authorization and permission of the third-lier city, and these results require the establishment of a new legal application system, trust building, and the lack of complex procedures for licensing and development entities. In the development stage, the first lier city was delayed due to design changes and construction errors, and risks are managed through review of design books before construction, mandatory preparation of checklist before construction, and thorough process management and quality management. During the construction period, complaints from local residents were found to be important figures in the second and third lier cities. It is difficult to continue this stage if residents oppose inconvenience in life such as traffic congestion, noise, and dust during construction. Although the civil complaint situation is out of control, it compensates and reduces risks by negotiating and resolving appropriate residents through holding the Civil Service Office and securing a certain amount of civil complaints when analyzing finance. If unsold is serious, it reduces risks through cost-sale and real-user-centered sales strategies, interest-free loans, and sales marketing. It came out as the appropriateness of the pre-sale promotion and marketing of the third-lier city, and risks are managed through publicity after the use of mass marketing information, securing advertising costs, etc.
As described above, this study also has a common risk factor that can occur step by step in the first, second, and third-lier cities' urban apartment development projects in China, but the risk importance figures shown by each city differ, so risk factors should be organized and managed separately.
This study is expected to provide basic data for recognizing, analyzing, and responding to risk factors in advance through training and databaseing professionals in the future.