土地价值评估实例研究
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摘要
本文以实证研究为主,利用国内外在土地价值评估方面的先进成果,结合国内房地产开发的实际,致力于探索一套适合房地产企业的行之有效的土地价值评估的办法和具体的操作技巧。
论文分为四章。第一章介绍了土地和地价的基本特征。指出土地的不可再生性、相对稀缺性、位置固定性等特征的存在,使得土地价格具有不同于一般商品的特性,从而决定了土地价值评估的基本方法。
论文第二章介绍了国内外土地价值评估的研究成果。通过分析不同流派的地价理论,总结出基本的土地价格评估模型。
论文第三章结合我国的实际,详细分析和讨论了土地价值评估的基本方法,即收益还原法、市场比较法、成本法和剩余法。总结出不同评估方法的基本思路、适用条件、使用方法、计算公式以及选取相关参数的技巧。
论文第四章运用土地价值评估方法,进行一个实际开发项目的实例研究。在市场比较法的评估过程中,进行了结果偏差分析,从而得到较为可靠的计算结果。在剩余法的估价过程中,运用经济学基本分析法来科学地预测房产的未来价格,并在计算过程中,采用了相对传统更为准确、合理的财务分析方法,以保证计算结果的准确、可靠。
论文阐述的重点是:在土地价值评估的实际操作中,如何正确选择评估方法以及如何预测、选取和确定有关参数,使得土地的评估价值尽可能地接近土地的真实价值,从而为房地产的投资决策提供重要的决策依据。
By employing case studies, domestic facts and the advanced international achievements in land evaluation, this thesis tries to probe for a set of efficient methods and operative skills that are suitable for real estate companies.
This article is divided into 4 chapters. Chapter 1 gives you an idea of the basic features of land and land price, and indicates some of the land features including irreproducibility, relative scarcity and immovable ubiety, which make the land different from other general merchandises and determine the basic method of land evaluation.
Chapter 2 gives an overall view of the advanced international research achievements in land evaluation and summarizes the fundamental assessment model through the analysis of different genres’ theories.
Chapter 3 fits the basic methods of land evaluation into our domestic practice and discusses these methods such as income regression, market comparison, cost analysis and surplus value analysis in detail, and summarizes the basic principle, applicability, ways to use and formulae of each method and the skills for choosing relevant parameters.
Chapter 4 turns the abstract ideas mentioned in Chapter 3 into the practices of using land evaluation—making a concrete case study of an actual estate project. In the process of evaluation using market comparison, I carried out a result wind age analysis to get a relatively credible result. And in the assessment of using surplus value analysis, I adopted the basic economic analysis to predict the real estate price, and in the calculation, I used a relatively conservative but more precise and more rational financial analysis method, to ensure the accuracy and reliability of the result.
This article focus on how one can choose the correct evaluation method, and how to predict, choose and confirm on the parameters, in the actual operation, in order to make the evaluation result proximate to the actual value. Since a proximate result makes an important ingredient for a real estate investment.
论文分为四章。第一章介绍了土地和地价的基本特征。指出土地的不可再生性、相对稀缺性、位置固定性等特征的存在,使得土地价格具有不同于一般商品的特性,从而决定了土地价值评估的基本方法。
论文第二章介绍了国内外土地价值评估的研究成果。通过分析不同流派的地价理论,总结出基本的土地价格评估模型。
论文第三章结合我国的实际,详细分析和讨论了土地价值评估的基本方法,即收益还原法、市场比较法、成本法和剩余法。总结出不同评估方法的基本思路、适用条件、使用方法、计算公式以及选取相关参数的技巧。
论文第四章运用土地价值评估方法,进行一个实际开发项目的实例研究。在市场比较法的评估过程中,进行了结果偏差分析,从而得到较为可靠的计算结果。在剩余法的估价过程中,运用经济学基本分析法来科学地预测房产的未来价格,并在计算过程中,采用了相对传统更为准确、合理的财务分析方法,以保证计算结果的准确、可靠。
论文阐述的重点是:在土地价值评估的实际操作中,如何正确选择评估方法以及如何预测、选取和确定有关参数,使得土地的评估价值尽可能地接近土地的真实价值,从而为房地产的投资决策提供重要的决策依据。
By employing case studies, domestic facts and the advanced international achievements in land evaluation, this thesis tries to probe for a set of efficient methods and operative skills that are suitable for real estate companies.
This article is divided into 4 chapters. Chapter 1 gives you an idea of the basic features of land and land price, and indicates some of the land features including irreproducibility, relative scarcity and immovable ubiety, which make the land different from other general merchandises and determine the basic method of land evaluation.
Chapter 2 gives an overall view of the advanced international research achievements in land evaluation and summarizes the fundamental assessment model through the analysis of different genres’ theories.
Chapter 3 fits the basic methods of land evaluation into our domestic practice and discusses these methods such as income regression, market comparison, cost analysis and surplus value analysis in detail, and summarizes the basic principle, applicability, ways to use and formulae of each method and the skills for choosing relevant parameters.
Chapter 4 turns the abstract ideas mentioned in Chapter 3 into the practices of using land evaluation—making a concrete case study of an actual estate project. In the process of evaluation using market comparison, I carried out a result wind age analysis to get a relatively credible result. And in the assessment of using surplus value analysis, I adopted the basic economic analysis to predict the real estate price, and in the calculation, I used a relatively conservative but more precise and more rational financial analysis method, to ensure the accuracy and reliability of the result.
This article focus on how one can choose the correct evaluation method, and how to predict, choose and confirm on the parameters, in the actual operation, in order to make the evaluation result proximate to the actual value. Since a proximate result makes an important ingredient for a real estate investment.
引文
樊芸, 曹经世, 周圣麟, 刘志宏. 房地产企业品牌评估方法探索. 估价师资讯网, 2002
廖俊平. 《房地产估价规范》的研究与阐释. 广东经济出版社, 2000
武汉地产. 武汉市土地整理储备供应中心内部资料, 2003. 5
周茂棣. 房地产价格评估案例评点. 武汉华中师范大学出版社, 1998
Oden, Howard W. Managing corporate culture innovation, and intra- paveneurship. Westport, Conn: Quorum, 1997
Schein, Edgar H. Organizational culture and leadership. San Franciso: Jossey – Bass Publishers, 1985
Gerald Eve. The Relationship Between House Prices and Land supply. Hmso Books, 1992
Land Supply and House Prices in Scotland. The stationery office Books (Agencies), 1986
Aswath Damodaran 朱武祥译. 投资估价评估任何资产价值的工具和技术. 清华大学出版社, 1999
朱武祥. 股权激励、企业价值创造与投资估价. 中华财会网, 2002
Andrew R. Garvey. Where, How, and Why to buy Real Estate Before 2009. Garvey Publishing, LLc, 2003. 11
Michael C. Thomsett, Getting Financing & Developing Land. Craftsman Book Company, 2000. 9
P. W Abelson. House and land prices in Sydney, 1925 to 1970. Macquarie University, School of Economic and financial studies, 1984
王学涵, 刘金昌. 海外房地产估价. 中国建筑工业出版社, 2002. 5
俞明轩. 房地产评估方法与管理. 中国经济出版社, 1999
邹高禄. 以美国为例谈组合投资与房地产投资. 不动产纵横, 2002(10):7-10
黄贤金. 不动产估价. 中国林业出版社, 1998
北京房地产估价师联合会. 北京不动产评估报告选编. 中国农业出版社, 1998
R. Dodge Woodson. Be a Successful Residential Land Developer. Mc Graw-Hill Professional, 2000. 1
Richard B. Peiser. Professional Real Estate development. Urban Land Institute, 2003. 1
Nathan S. Collier. Construction Funding: The Process of Real Estate Development, Appraisal, and Finance. Wiley, 2001. 12
盛承懋. 房地产估价案例与分析. 南京东南大学出版社, 2000
浙江省土地估价师协会. 浙江地产评估实例精选. 中国农业出版社, 1998
施建刚. “快速递减加权式”在比较法评估房地产价格中的应用研究. 上海市房地产估价师协会, 2003. 7
蔡兵备, 欧阳安蛟. 城市地价评估方法——发展与创新. 社会科学文献出版社, 2002
Amitabh Kundu. Urban Land Markets and Land Price Changes: A Study in the Third World Context. Ashgate Publishing, 1997
Donald James Weiderman. A model to predict urban influenced land prices. Alberta Municipal affaire, Innovative Housing Grants Program, 1986
张燕敏. 专业评估执行统一准则. 北京经济科学出版社, 1998
建设部. 国家标准《房地产估价规范》. 1999
王天有. 跨国并购的价值评估方法研究. 数量经济技术经济研究, 2002(7)
王少豪, 张发树. 企业债转股后的股权价值分析. 中国评估师, 2002: 20-28
丁战. 企业整体资产评估中折现率的确定方法. 工业企业管理, 2002(7): 10-15
何芳, 陈犟. 旧城区区片拆迁地价评估研究. 中国房地产, 2002(9): 7-10
施建刚, 黄耀明, 袁东华, 许军. 模糊数学在房地产评估中的应用. 上海市房地产估价师协会, 2000
宗跃光, 孟伦. “通过障碍估价法”与交通用地估价. 上海市房地产估价师协会, 2000
董黎明, 叶向忠. 容积率与房地产价格. 中国房地产估价师, 1998:12-14
吴正训. 上海住宅小区开发前期策划及投资咨询粗探. 中国房地产估价师, 2003: 5-9
黄绿筠, 马才学. 不同土地使用权对房地产估价的影响. 中国房地产, 2002(6): 15-17
广东国土资源厅土地利用处. 农用地分等级与估价工作资料汇编. 2000. 6
武汉房地产年鉴1998. 中国地大出版社, 1998
武汉房地产年鉴2003. 武汉出版社, 2003
武汉房地产年鉴2002. 武汉出版社, 2003
刘卫东. 新时期城市基准地价更新与应用问题研究. 估价师资讯网, 2002. 4
王立鸿, 王铁成. 基于组件式GIS的土地分等定级系统的开发与应用. 估价师资讯网, 2002. 10
任志远. 中国西部城市土地定级估价探索与实践. 北京科学出版社, 2000
Truskie, Stanley D. Leadership in high performance organization cultures. Westportconn: Quorum Books, 1999
施建刚. 房地产估价中的传统比较法和模糊数学法精度比较和研究. 上海市房地产估价师协会, 2003
廖俊平. 《房地产估价规范》的研究与阐释. 广东经济出版社, 2000
武汉地产. 武汉市土地整理储备供应中心内部资料, 2003. 5
周茂棣. 房地产价格评估案例评点. 武汉华中师范大学出版社, 1998
Oden, Howard W. Managing corporate culture innovation, and intra- paveneurship. Westport, Conn: Quorum, 1997
Schein, Edgar H. Organizational culture and leadership. San Franciso: Jossey – Bass Publishers, 1985
Gerald Eve. The Relationship Between House Prices and Land supply. Hmso Books, 1992
Land Supply and House Prices in Scotland. The stationery office Books (Agencies), 1986
Aswath Damodaran 朱武祥译. 投资估价评估任何资产价值的工具和技术. 清华大学出版社, 1999
朱武祥. 股权激励、企业价值创造与投资估价. 中华财会网, 2002
Andrew R. Garvey. Where, How, and Why to buy Real Estate Before 2009. Garvey Publishing, LLc, 2003. 11
Michael C. Thomsett, Getting Financing & Developing Land. Craftsman Book Company, 2000. 9
P. W Abelson. House and land prices in Sydney, 1925 to 1970. Macquarie University, School of Economic and financial studies, 1984
王学涵, 刘金昌. 海外房地产估价. 中国建筑工业出版社, 2002. 5
俞明轩. 房地产评估方法与管理. 中国经济出版社, 1999
邹高禄. 以美国为例谈组合投资与房地产投资. 不动产纵横, 2002(10):7-10
黄贤金. 不动产估价. 中国林业出版社, 1998
北京房地产估价师联合会. 北京不动产评估报告选编. 中国农业出版社, 1998
R. Dodge Woodson. Be a Successful Residential Land Developer. Mc Graw-Hill Professional, 2000. 1
Richard B. Peiser. Professional Real Estate development. Urban Land Institute, 2003. 1
Nathan S. Collier. Construction Funding: The Process of Real Estate Development, Appraisal, and Finance. Wiley, 2001. 12
盛承懋. 房地产估价案例与分析. 南京东南大学出版社, 2000
浙江省土地估价师协会. 浙江地产评估实例精选. 中国农业出版社, 1998
施建刚. “快速递减加权式”在比较法评估房地产价格中的应用研究. 上海市房地产估价师协会, 2003. 7
蔡兵备, 欧阳安蛟. 城市地价评估方法——发展与创新. 社会科学文献出版社, 2002
Amitabh Kundu. Urban Land Markets and Land Price Changes: A Study in the Third World Context. Ashgate Publishing, 1997
Donald James Weiderman. A model to predict urban influenced land prices. Alberta Municipal affaire, Innovative Housing Grants Program, 1986
张燕敏. 专业评估执行统一准则. 北京经济科学出版社, 1998
建设部. 国家标准《房地产估价规范》. 1999
王天有. 跨国并购的价值评估方法研究. 数量经济技术经济研究, 2002(7)
王少豪, 张发树. 企业债转股后的股权价值分析. 中国评估师, 2002: 20-28
丁战. 企业整体资产评估中折现率的确定方法. 工业企业管理, 2002(7): 10-15
何芳, 陈犟. 旧城区区片拆迁地价评估研究. 中国房地产, 2002(9): 7-10
施建刚, 黄耀明, 袁东华, 许军. 模糊数学在房地产评估中的应用. 上海市房地产估价师协会, 2000
宗跃光, 孟伦. “通过障碍估价法”与交通用地估价. 上海市房地产估价师协会, 2000
董黎明, 叶向忠. 容积率与房地产价格. 中国房地产估价师, 1998:12-14
吴正训. 上海住宅小区开发前期策划及投资咨询粗探. 中国房地产估价师, 2003: 5-9
黄绿筠, 马才学. 不同土地使用权对房地产估价的影响. 中国房地产, 2002(6): 15-17
广东国土资源厅土地利用处. 农用地分等级与估价工作资料汇编. 2000. 6
武汉房地产年鉴1998. 中国地大出版社, 1998
武汉房地产年鉴2003. 武汉出版社, 2003
武汉房地产年鉴2002. 武汉出版社, 2003
刘卫东. 新时期城市基准地价更新与应用问题研究. 估价师资讯网, 2002. 4
王立鸿, 王铁成. 基于组件式GIS的土地分等定级系统的开发与应用. 估价师资讯网, 2002. 10
任志远. 中国西部城市土地定级估价探索与实践. 北京科学出版社, 2000
Truskie, Stanley D. Leadership in high performance organization cultures. Westportconn: Quorum Books, 1999
施建刚. 房地产估价中的传统比较法和模糊数学法精度比较和研究. 上海市房地产估价师协会, 2003