杭州XS房地产项目市场定位及财务评价研究

发布时间：2018-05-27 23:48

本文选题：可行性研究 + 房地产　；参考：《西南交通大学》2013年硕士论文

【摘要】：房地产项目投资具有投资额大、风险高、回报周期长等众多特点,一个房地产项目成功与否很大程度取决于投资的准确性。然而,以往中国房企在房地产投资中对项目的可行性研究是不够的,往往认为只要取得优质的土地,不管代价多高,未来都可以取得良好的回报。所以前几年经常出现面粉比面包贵的现象,地王在全国各地遍地开花。随着我国房地产市场调控的深入,许多高价地块在市场上已经出现亏本现象,这便导致房企盈利水平下降,有些出现亏损。房地产市场的调控也使得房企资金链紧张,有些断臂求生,有的只能被兼并或重组。出现上述现象的原因主要在于房企在拿地过程中没有充分调查房地产市场,没有对我国房地产市场调控有清醒的认识,在产品定位时对产品档次定位、房价未来走势、去化能力分析等方面都存量不足,造成先天性的市场定位失败；同时很多房企也没有在项目投资评价过程中进行较好的成本核算、融资安排以及其他相应的前期工作和风险预判。本文通过对我国房地产市场宏观调控进行回顾,并对未来房地产市场发展趋势进行分析,认为我国房地产市场宏观调控主要为抑制投资和投机需求,保持房价合理性,对刚需购房需求出台信贷及税费等方面的支持；结合项目区域市场特点及项目优劣分析,对项目进行客观定位。在此基础上,结合成本核算、工程建设、税务筹划、融资等对项目的投资财务状况进行评价。在项目未来售价上可以运用市场法对未来售价、去化速度进行预测。运用假设开发法对拟投资项目进行土地出让价格估算,计算出最高可承受的楼面地价,得到项目投资后的财务评价结果。
[Abstract]:Real estate project investment has many characteristics such as large investment, high risk, long return period and so on. The success of a real estate project depends on the accuracy of the investment to a great extent. However, in the past, Chinese housing enterprises in the real estate investment in the feasibility of the project is not enough, often think that as long as the quality of land, no matter how expensive, will be able to achieve good returns in the future. So a few years ago, flour often more expensive than bread phenomenon, King everywhere in the country blooming. With the deepening of China's real estate market regulation, many high-priced land in the market has appeared a loss phenomenon, which leads to a decline in the profitability of housing enterprises, some losses. The regulation of the real estate market also makes the capital chain tight, some broken-arm survival, some can only be merged or reorganized. The reasons for the above phenomenon mainly lie in the fact that the housing enterprises did not fully investigate the real estate market in the process of taking the land, did not have a clear understanding of the regulation and control of the real estate market in our country, positioned the product grade and the future trend of house prices in the process of product positioning. At the same time, many housing enterprises have not carried out better cost accounting in the process of project investment evaluation. Financing arrangement and other corresponding preliminary work and risk prejudgment. This paper reviews the macro-control of the real estate market in China, and analyzes the development trend of the real estate market in the future, and concludes that the macro-control of the real estate market in our country is mainly to restrain the investment and speculative demand, and to maintain the rationality of the house price. This paper gives support to the rigid demand for housing purchase, such as credit and tax, and analyzes the characteristics of the regional market of the project and the advantages and disadvantages of the project, and makes objective positioning of the project. On this basis, combined with cost accounting, engineering construction, tax planning, financing and other projects to evaluate the financial situation of investment. The market method can be used to predict the future selling price and dewatering speed of the project. By using the method of hypothetical development, the land transfer price of the investment project is estimated, and the highest affordable floor land price is calculated, and the financial evaluation results after the investment of the project are obtained.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.32

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