Th Research On The Sustainable Development And The Investment Optimization Portfolios Of Real Estate Enterprises

Along with the rapid developing of our national economy and the deepened reformation in the land and housing system, the industry of teal estate has developed rapidly. Nowadays, the proportion of the real estate industry in national economy is increasing, and the rapid development of the real estate industry drives the national economy developing farther.With the success of joining WTO, Beijing's Olympic game, Shanghai's world's fair, this industry will obtain more opportunity and face more challenge. In this paper, through analyzing the development models of the real estate enterprises in China, associating the existent problems, some development strategies adjusted to guarantee the sustainable development of real estate enterprises under the background of the new time have been discussed.On the other hand, the high-speed development demands advanced real estate investment theory. But investment theory of real estate in China is still inadequate because of such a short development history. So it not only has theoretic meaning but also has realistic meaning to investigate the development trend of the real estate market and study the operating investment theories and methods as well as to guide the real estate enterprises to carry scientific operation.In this paper, the portfolio investment theory and the real estate investment are combined to find out how to reduce the risk of the real estate investment. Based on the modern portfolio investment theory, the single object model and multiple objects model based on Mean-Variance Model and the single object model and multiple objects model of real estate investment portfolio based on Capital Asset Pricing Model are established respectively. Using the model of the real estate investment portfolio, the problem of the investment portfolio can be solved theoretically to get the optimal investment portfolio between income and profit. Accordingly, the anti-risk capability and profitability of total investment can be enhanced. At the same time, using examples the model of real estate investment portfolio based on Capital Asset Pricing Model has been proved practical meaning that it can get profit maximization as well as the risk has been avoided.As a scientific investment method, the real estate portfolio model of this paper has theoretical and practical significance to decrease the risk and will be a trend of future real estate investment strategy.