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1.
This paper considers the behavior of actors in real estate markets in the face of environmental uncertainty. Environmental legislation has increased in scale and scope with obvious implications for property markets. Developers, investors, occupiers, and lenders may all be affected by changing environmental standards. Any factor that creates valuation uncertainty will have major impacts. Blighted sites and properties will be shunned, while existing real estate portfolios will be adversely affected. A survey of UK property practitioners on their attitudes to environmental hazard reveals that firms seem pessimistic as to their ability to quantify and model the economic and investment implications of environmental risk. There are concerns here for the wider economy and for the business community through supply-side constraints and suboptimal location. There are implications, too, for local and regional regeneration strategies as whole areas may be blighted by potential contamination. There may be mispricing and arbitrage opportunities in relation to such assets that can be exploited through first mover advantage by firms willing and able to develop effective risk-sensitive appraisal models.  相似文献   

2.
《保鲜与加工》2002,(5):90-94
In recent years, with the sustained and rapid development of economy in China, the capital support is needed for the real estate industry. However, the healthy development of China's real estate was obstructed by the limitation of traditional financing ways. So the Asset-Backed Securitization (ABS) becomes a new feasible solution to this problem. In this paper, the primary conception, functions and the development of ABS overseas are introduced. Then the attention to the operating models, operating procedures and legislation environment is focused. Finally, the practical condition for application of real estate securitization in China is analyzed and relevant countermeasures are put forward.  相似文献   

3.
The real estate investment trust (REIT) as a new tool of real estate investment is introduced in this paper by the way of analyzing the status quo of real estate circulation funds. The importance of developing REIT in China is analyzed. Referring to the foreign experience, the basic principles, classification of REIT and the different characteristics for the investors and the real estate companies are introduced. The difficulties in developing REIT in the capital market and in the investment market in China are discussed. The countermeasures to deal with the situation are presented. REIT is valuable in forming the real estate investment market and healthy development of real estate.  相似文献   

4.
In this paper, the Environment Influence Assessment (EIA) characteristics of real estate are analyzed and the application of residential environmental adaptability to the EIA of real estate is mentioned.The assessment index system of residential environmental adaptability and the method of assessment are submitted, which can be used to guide the EIA of real estate in order to create a suitable residential environment and improve the living standard.  相似文献   

5.
Whether the international economic and financial environment pressure or domestic economy grows dynamical inadequacy suggests that the economy may enter a downward cycle in 2012. Policy is still the most important factor which will determine the trend of the real estate market. In the face of tighter monetary environment, limiting the purchase, credit limit, limit and strict regulation of real estate and the rapid growth of the low-income housing supply, housing price quantity fall into a downward trend, market situation is complex and severe. Strengthening the construction of internal control in the real estate enterprise is effective means to manage enterprise strictly, innovate in management, improve management efficiency ,prevent various risks, achieve business objectives and goals .Through the internal control principle in the real estate and the necessity of analysis , the paper presents the main control measures in the real estate development process.  相似文献   

6.
CHEN Zhi-min 《保鲜与加工》2005,(2):124-127133
Based on the review of progress of research on the influence of urban planning on the price of real estate both at home and abroad, the author analyzes and summarizes the mechanism of the effect of the urban planning system on the price of real estate from three basic levels as strategy planning, implementation planning and planning administration and suggests that the local government should make use of this mechanism to carry out the guidance on the balanced development of urban economy, society and environment in real estate realm.  相似文献   

7.
In this paper the concept and active impaction on economy of timeshare were introduced. According to supply, demand and basic condition, developing timeshare estate were provided with basic condition in China. Analyzing the history of timeshare we can get the conclusion that it was unused real estate to startup the timeshare and so the development of timeshare in China have partly active effect. At last, in this paper the policy risk, consumption anticipation risk, lack of demand risk, product design risk, market orientation risk, system management risk, competition risk, internationalization risk, and market impression risk were analyzed except the market risk, business risk and polity risk and so on which were the common risks of real estate. And the countermeasure and measure how to promoting the development of timeshare estate were put forward.  相似文献   

8.
Real estate exploitations have high risk and its exploitation environment is quite uncertain. The traditional investment value methods, such as the net present value and discount cash flow methods, usually undervalue the real estate value. In this paper the real option pricing theories and methods are applied to discuss real estate investment value under uncertainty. This method provides a new approach for real estate items.  相似文献   

9.
Landscape real estate is a high-grade product of tourism development and real estate industry, and a new real estate development mode integrating both investment and consumption. This paper, based on analyzing concepts and characteristics of tourism landscape real estate, elaborated basic principles of landscape real estate development by taking Guosetianxiang in Chengdu City for example, and proposed suggestions for the future development of tourism landscape real estate.  相似文献   

10.
In order to formalize China's real estate appraisal, an examination and registration system for real estate appraisers has been put into practice. China Institute of Real Estate Appraisers has edited a series of textbooks for this purpose and the standard rules and specifications for real estate appraisal are available. During reading the text book as well as the rules and specifications, the author found that there are some mistakes and uncertainty in the formula of overall capitalization rate. Because of its sensitivity to the value of real estate, it is extremely important to use correct overall capitalization rate. Based on the information collected, the author has systematically analyzed the overall capitalization rate formula, and clearly defined the concept involved. In this paper, it is expected to provide some insight into the improvement of real estate appraisal theory in China and offer some valuable reference for real estate practice.  相似文献   

11.
The population proportion index is usually introduced to measure the level of urbanization, which is an important index to the national economy. The fast development of urbanization would inevitably cause the increase of the investment in real estate industry. Introducing the Granger Test of Causality analytical method, in this paper the relationship between the level of urbanization and the investment in real estate industry from 1986 to 2003 in China is analyzed. It reveals that both of them are on the stage of constant up - rising, and the correlation index of 0. 205 shows that the relationship between them is a mutual promoting causality.  相似文献   

12.
Abstract: With the emergence of the real estate market since 1990, the operation Beijing's economy has led to a re‐shaping of its inner city. By reviewing the Old and Dilapidated Housing Redevelopment (ODHR) programme in Beijing in the 1990s, this paper seeks to uncover the forces that led to the prevailing large‐scale urban redevelopment which induced serious environmental and socio‐economic problems. By analysing conflicts between major stakeholders of the ODHR programme, the paper finds that the root cause of these problems was embedded in the ‘mismatch of plan and market’ by which local officials and local developers utilised their privileges inherited from a planned economy to benefit from the emerging real estate markets. As a result, the hidden agenda of local elites was facilitated during the urban redevelopment process.  相似文献   

13.
This paper employs vector autoregressive (VAR) models to measure the impact of monetary policy shocks on regional output in Indonesia. We find substantial cross‐regional variation in policy responses in terms of both magnitude as well as timing. Our work adds to the existing literature by providing insights from a large developing country, viz. Indonesia, where monetary policy has both a national and a regional dimension. The results support previous findings that the differential regional effects of monetary policy are significantly related to sectoral composition (especially the share of manufacturing), providing evidence for the relevance of the interest rate channel of monetary policy. We also find that firm size contributes to these differences, providing evidence for the importance of the credit channel. As a whole, both types of channels appear to operate simultaneously in the decentralized Indonesian monetary policy and to impact on the real part of the regional economy.  相似文献   

14.
Economy is a major force in determining the hierarchy of urban system. As regional economy globalizes, urban systems in many countries are making their transition from the scale-based hierarchy to the networked system, while that in China still maintains an administrative stratification. The paper discussed the triumph of Baigou Town in the East Baoding Sub-center Campaign. It significantly shattered the administrative hierarchy of the urban system in China, which owes largely to the new type of economical development, i.e. government-led fixed assets investment and real estate development, as demonstrated in the urban expansion. Under the pattern of "territory" logic, spatial planning not only lost efficacy, but also stimulated bottom-up over development in local areas. The paper recommended foreign action- and collaboration-oriented urban planning theories, and that the absolute top-down spatial blueprint planning must be abandoned, and a harmonious synergy of planning roles, work content and methodology be facilitated.  相似文献   

15.
With incessant development of Chinese real estate market, the amount and size of real estate corporations are enlarging rapidly and the real estate corporation investment goal is tending to become divertive. So it is especially important to understand rightly the investment goal of the real estate corporations. This paper analyzes the unbalance phenomena of real estate corporation investment under the environment of high profit margin and discusses the serious aftereffect from this unbalance. Finally this paper brings forward the right order of investment goals for the real estate corporations in order to contribute to a nicer performance of real estate corporations in establishing sustainable development stratagem.  相似文献   

16.
In order to increase the early decision-making accuracy of the real estate development and lower the overall risk of real estate investment, this paper explored the locations for projects of real estate development in the aspects of theoretical methods and technical levels. The evaluation system of housing project sites was established. It constructed the set model for real estate development projects and studied the concrete operation of the model in practice with a prac- tical example with the rough set theory. The test results showed that the method can reduce impacts from the experience and subjective awareness of decision-makers and increase the accuracy of location decisions.  相似文献   

17.
After China's entry into WTO, some well-rounded foreign real estate agencies and home financial company have entered into China's real estate market. Encountered with gradually matured market, the real estate enterprises pay more attention to the issue of how to preserve the biggest profit space. In this paper, the cost management will be investigated deeply and related measures will be put forward. This paper follows the principle of standing out the emphasis and exploring deeply the essential problem. With the theory-coupled-examples method, the fundamentality of cost management in decision-making and programming design stage is studied. The object system method is used to evaluate the quality of the decision-making and using compound engineering designing principle to manage the cost. The results prove that the decision-making as well as programming design stage is the key of cost management, which should be taken seriously by China's real estate enterprises.  相似文献   

18.
At present, in the evaluation process of the real estate value the material form is mainly concentrated on, while the value brought by the real estate brand are usually neglected. In this paper, considering the particularity of the real estate brand evaluation, the method of network analysis is adopted. In the evaluation process, the evaluation method of excess income law are developed by leading the thoughts and methods of the fuzzy set theory, and a systematic assess model is found. Then, an example is given as illustration. At last, the appraise about the application of the model is made.  相似文献   

19.
Traditionally, tourism development in Singapore involves creating and promoting tourist attractions to lure inbound visitors. Today in the 1990s the focus is on regional tourism, and Singapore is being developed as a ‘tourism capital’ and a hubbing centre for visitors travelling to and within Asia. Tourism development now has a regional focus and tourism enterprises are being encouraged to invest in overseas projects in the Asia Pacific. This paper explores Singapore’s forays into regional tourism. Specifically, it argues that ‘regionalisation’ and tourism enjoy a mutually reinforcing relationship. This means that regionalism provides an avenue for the tourism industry to expand and, conversely, the tourist industry provides an opportunity for Singapore to regionalise its economy. The turn towards regionalisation hints at local problems faced by Singapore’s maturing economy as a whole and its tourism industry in particular. Such local problems include: geographic constraints of site and the lack of natural attractions; limited market and investment opportunities within Singapore; increasingly sophisticated leisure needs of Singaporeans; and strategic concerns for political survival. ‘Tourism regionalisation’ helps to circumvent both real and perceived problems but this paper also warns that many challenges and difficulties will be faced even as Singapore’s regional economy takes root.  相似文献   

20.
The problems and their causations of real estate management in our country are analysed and four countermeasures are presented in this paper. It is hoped to advance quality and level of real estate management in our country and to promote healthy development and positive circulation of real estate industry.  相似文献   

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