Analysis on Unbalance of Real Estate Investment Goal under the Environment of High Profit Margin

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.     

New Financial Tool of Real Estate - Real Estate Investment Trust

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.     

The Real Option Method of Real Estate Exploitation Evaluation

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.     

Research on Calculating Method of Capitalization Rate in Real Estate Appraisal

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.     

Discussion on Problems and Countermeasures of RealEstate Management in China

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.     

Application of Residential Environmental Adaptability to Environmental Influence Assessment of Real Estate Project

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.     

Main Influences of Credit and Loan Adjustment Policy on the Real Estate Enterprises and Their Countermeasures

In conjunction with the current situation of the real estate market in China, the main influence caused by the credit and loan adjustment policy is analyzed. On this basis, it has proposed some suggestions on how to strengthen the competitiveness and ability to resist risk of the real estate enterprise. At the end, it is emphasized, that the credit and loan adjustment policy not only makes the enterprise under enormous pressure, but provides a great opportunity of reducing rivals and expanding its own scale to those really powerful real estate enterprises. The real estate enterprise should seize this opportunity to meet the challenge to expand and strengthen itself.     

Real Estate Appraisal Enterprises to be Standardised

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.     

Real Option Method in Real Estate Investment Decision

Through analysis of basic assumptions and limitations of the conventional real estate investment decision method, in this paper, its unconformity to the investment environment, which includes a great number of uncertain elements, is pointed out. By analyzing the real option and the price formula, the pattern of real option in real estate investment decision is put forward and this breaks through the limitations of the conventional investment decision method and makes the decision scientifically and reasonably, moreover, it has some directive significance to investment administration work of real estate corporation.     

A Study on the Phases Division of Real Estate Project Life Cycle in China

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.     

Study on the Mechanism of the Effect of Urban Planning System on the Price of Real Estate

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.     

Study on Tourism Landscape Real Estate in China

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.     

城乡统一的不动产拆迁与征收制度构建研究

为了解决当前中国在城市房屋拆迁征收与农村土地征收中的制度与政策差异导致在不动产征收过程中出现的一系列问题。运用伦理学和法理学的系统分析方法,对中国城乡分割的不动产拆迁与征收相关法律进行了研究。结果表明：（1）当前中国不动产拆迁与征收制度主要存在集体土地所有权主体弱化、城乡土地用益物权征收与补偿标准不一致、征收公共目的性依据不足、补偿标准理论依据欠缺、征收补偿程序缺乏司法救济等问题;（2）现行中国财产权法律保障体系为城乡统一的不动产拆迁与征收制度构建提供了坚实的产权法理基础、补偿标准同一化基础与现实基础;（3）通过不动产物权权能构成与性质完善、不动产拆迁与征收程序等法律规范和补偿评估标准的改革。建立城乡统一的不动产拆迁与征收制度,可以充分有效的保障被征收人的核心利益,从制度上解决土地征收与房屋拆迁中的激烈矛盾和现实问题。     

Influence of Real Estate Mortgage Reform on the Chongqing Real Estate Enterprises and Countermeasures

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.     

Analysis on Location Selection for Real Estate Development Based on Set Theory

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.     

Real Estate Administration by Internet

The government plays an important role in modern economic life. The administration by Internet is ranked first among the IT highway's five application areas. The author of this paper introduced the status of China's real estate administration by Internet, analyzed the problems existed and constructed a framework of real estate administration by Internet, which will facilitate China's real estate administration and modernization.     

Research on Operating System of Asset Backed Securitization

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.     

Cost Management of Real Estate Development

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.     

宁夏清水河产业带新型城镇化与房地产业耦合发展空间分析

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。     

The Fuzzy Synthetic Evaluation of the Risks of Commercial Banks

After China accedes to the World Trade Organization, the marketing environment for the enterprise of real estate development will change. In accordance with the change and according to basic principles of marketing, the new ideas regarding marketing innovation for the enterprise of real estate development have been put forward in this paper.