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1.
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   

2.
Although it is not long since the Chinese real estate appraisal agencies appeared in China, they have been developing quickly. With the increase of real estate appraisal portfolio, the number of real estate appraisal agencies in the market also increases. However, because of the loose management in this field, there are many operation that are not standard and not allowed by the operating rules. This paper tackles this problem on the basis of the special relationship between real estate appraisal agencies and banks, analyzes the present situation in this field in detail and puts forward the strategies accordingly.  相似文献   

3.
As amethod of real estate appraisal, the income capitalization method takes advantage of appraisal for incoming real estate. However, it is limited in application because of the difficulty in obtaining the rate of capitalization. Based on analysis of the essence of the rate and the shortage of decision-making method, this paper introduces a general and scientific method-the comprehensive method.  相似文献   

4.
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   

5.
The traditional method used often is net present value method(NPV)for valuing project. NPV is useful in many cases, but it doesn't get to the heart of how intimately linked capital allocation is to long term corporate strategy. In general,past investment projects generate future as well as current opportunities-an important consideration that NPV rarely takes into account. This paper presents an advanced valuation techniques-the real options approach that remedies some of the deficiencies inherent in traditional NPV. The main emphasis will be on techniques that emphasize the role that the adoption of projects plays in the overall long term strategy of a corporation. Because in reality the future markets have the great uncertainty that produces risky or opportunity with project so as to change the value of project. This will have an effect on decision making. The real options approach recognize that financial market information can be useful for determining the expected cash flows of a project as well as the appropriate discount rate and can thus provide more accurate estimates of value. Base on this, how to use the real options approach is introduced. The role that the real options approach played in valuing the project with abandonment or defer or extend etc. strategic options is described with examples.  相似文献   

6.
At present the contradiction between the supply and demand of the commercial real estate becomes more and more acute. There are two sides of unbalance, one of them relates to the total amount about the supply and demand, the other relates to the structure of them. Either of them can block the circulation of the market and restrict the development of the real estate if any inconsistency happened. The most important reason, which results in the disharmony, in the author's opinion, lies in the inefficiency of the price mechanism in real estate market.  相似文献   

7.
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   

8.
Although the commercial real estate in our country has made a great progress in these years,the vacancy rate is very high.It is not only a loss to the developer,but also a waste to the social resources.As keen competition between the commercial real estate developers is on coming,the market orientation will be decisive.The Analytic Hierarchy Process(or AHP) is a qualitative and quantitative analysis method,the application of which to the business orientation can make our item more easily to succeed.In this paper,the AHP is applied to the market orientation of an item in Shenzhen.It is hoped that this will contribute to raising the decision accuracy,by formatting pair wise comparative matrixes according to the rate of contribution the variant factors applied to the target.  相似文献   

9.
Various indices are commonly used to measure growth or decline in communities and regions, but this article suggests another measure which is fairly easy to obtain--the change over time in real assessed market values. Computer storage and analysis of real estate assessment and sales data make it possible to determine accurate true assessment ratios which can be used to calculate reasonable estimates of market values. This article shows the relationship between population growth from 1970 to 1980 and the changes in real assessed market values of various property classes for over 400 Pennsylvania townships. This can provide insight into the kind and nature of community change. The most noteworthy aspect of these data, not apparent in conventional growth measures, is the magnitude of increases of residential property values in all growth categories, but particularly in the high growth townships. This kind of data could be calculated by countries or by regions; this might be more informative and useful to planners and researchers in such form. Comparing local data to regional, community, or state landmark data can help identify strengths and weaknesses or the particular nature of a community's growth.  相似文献   

10.
基于新型城镇化与房地产业耦合发展为视角,建立了宁夏清水河产业带新型城镇化与房地产业发展耦合度评价指标体系,借助耦合协调度模型与耦合发展度模型,对该区10个县(区)单元的新型城镇化与房地产业发展的耦合关系进行空间分析。结果表明：① 研究区新型城镇化与房地产业整体协调度处于磨合阶段,系统之间相互作用与影响力显著,但并没有达到协调水平,协调度最高的是同心县,最低的是红寺堡区;② 新型城镇化与房地产业整体发展度处于中等水平,且空间格局差异较大,耦合发展度最高的是沙坡头区,最低的是红寺堡区;③ 依据耦合协调度与发展度的组合可将研究区新型城镇化与房地产业发展耦合关系分为4大类型：高发展协调区、高发展磨合区、中发展拮抗区、低发展拮抗区。建议在未来新型城镇化建设过程中政府应因城因地的采取差别化的房地产宏观调控政策,促进房地产业发展与新型城镇化建设的协调关系。  相似文献   

11.
《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   

12.
Recently,many large and medium-sized real estate companies in China have attempted to construct a standard project management system regarding project culture,organization and value chain,to enhance their ability of integrating resources and effectively delivering projects.An appropriate definition of project phases is the base of standard management for these enterprises.According to the existed literature and the observation of some real estate companies,a Six-Phase(SP) approach is presented.The method standardizes real estate project in China by dividing a project life cycle into six phases.A case study shows that the six phases correspond appropriately with those suggested by the departments of four real estate companies.An industry survey by means of questionnaire has also been conducted.The respondents,most of which are the CEOs from 50 real estate companies in China,agreed that this approach is reasonable and acceptable.  相似文献   

13.
With the development of innovation in economic system,the real estate business became more and more active in recent years.In order to fit the innovation in housing system,the commercial housing pre-selling emerged,as the times require.Because the commercial housing pre-selling is still in the first phase in China,and the legal relations of the business are comparatively complicated,the legislation is not perfect correspondingly.So there are some new problems in the pre-selling of commercial houses.Hence the purchasers' risks and the precautions in the pre-selling of commercial houses are discussed in this paper.  相似文献   

14.
农业生产性服务对农地经营规模的影响   总被引：2，自引：1，他引：1  
李颖明  王旭  刘扬 《中国农学通报》2015,31(35):264-272
适度规模经营是提高农业竞争力和加快农业转型的关键举措,农业生产性服务水平是农地经营规模的重要约束条件和影响因素。为了分析农业生产性服务对农户经营规模的影响,及其不同服务对当前农地规模的影响差异,对2013—2014年期间开展的10个省份、1121个农户的调研数据进行分析。采用逐步回归的最小二乘法,对农地经营规模和农业生产性服务业进行了相关性分析。结果表明,农业生产性服务与农地经营规模有显著的正相关关系;当前农村生产性服务项目主要集中在节约劳动成本的传统服务,从农业经营规模扩大的角度看,借贷款服务、农业保险服务、土地流转服务、专业化农机服务等新型生产性服务对农业发展将产生越来越大的影响。该研究结果将为中国农村生产性服务业发展的方向和重点提供借鉴。  相似文献   

15.
In this paper, primarily, the real estate mortgage reform by the Central Bank of China is introduced. The influence of the reform on Chongqing Real estate enterprises by analyzing the problems existed in real estate development in Chongqing is expounded. To decrease the influence, the developer and the government should make efforts together. For the developers, they can find more ways to finance the projects, optimize the products supply system and strengthen the risk-resisting abilities. For the government, it should find all the ways to create a suitable external environment for the real estate market.  相似文献   

16.
Our research evaluates and compares the effects of three land‐related policies on land development in a sprawling metropolitan area during a real estate boom and a recession. Our findings suggest that during a real estate boom 1) the urban growth boundary (UGB) serves its purpose of attracting urban development inside the given boundary during a boom while its effectiveness diminishes with increased development pressure from lower‐valued land outside of the UGB during a recession period, 2) the agricultural zone works well for restraining new development during a boom period while agriculture zoned parcels are more likely developed during a recession period, and 3) an increase in the land‐value tax bill increases the incentive for development during a recession period while higher tax bills do not affect development during a boom period. In anticipation of a re‐emergence of urban sprawl with the recovery of the real estate market, our findings imply that land planners and others concerned with sprawling development should pay more attention to development in sprawl‐prone areas during recession periods.  相似文献   

17.
Proximity to wetlands and water bodies can be considered an amenity (for open space and recreation value), as well as a possible nuisance (with the potential for flooding or development restrictions), although the overall effect may be different depending on location. Studies of the impacts of wetlands and water on housing prices can also be prone to spatial autocorrelation problems arising from omitted unobservables. McMillen and Redfearn explain that locally weighted regressions (LWRs) can address spatial autocorrelation. In addition to ordinary least squares (OLS), we use LWR to control for spatial effects and analyze how proximity to water bodies and wetland areas impact real sales prices of homes in one Connecticut town in 2000–2009. With OLS regressions, proximity to wetland areas and water bodies are insignificant determinants of the real sale price of homes. When we control for spatial effects with a nonparametric (i.e., LWR) approach, the significance of the water variable is different than from OLS—while greater distance from wetlands leads to an insignificant relationship with housing price, the water distance effect becomes negative and significant. These results imply that incorporating potential spatial heterogeneity in the data is crucial for accurately estimating the direction, magnitudes, and statistical significance of the relationships between environmental variables and housing prices.  相似文献   

18.
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   

19.
When the market comparison approach is operated in real estate appraisal, the puzzle, how to select the most similar instances in many comparable instances, is confronted. In this paper, how to apply the fuzzy pattern recognition to solve the puzzle is explored. This paper has threefold: 1) to review and introduce some conceptions about the fuzzy pattern; 2) to discuss how to establish the fuzzy pattern recognition's model for selecting comparable instances and 3) an example is used in the model to testify it's reliability and scientific nature.  相似文献   

20.
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   

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