Commercial Real Estate Leasing Market Analysis And Evaluation

Current real estate industry has become a pillar industry of the national economy.Commercial real estate developes rapidly with the pace of urbanization,and academic research of commercial real estate has just started,especially for commercial real estate leasing research.Based on the analysis and assessment of leasing market,it not only provides guidance for the development orientation and commercial real estate planning,but also is beneficial to the government for commercial real estate market and effective supervision.The dissertation reviews the development course of commercial real estate and its rental market,makes a preliminary understanding of the status in guangzhou tianhe,analyzes its active degree,development trend and judgment.Tianhe commercial real estate regional development is not balanced;large stores were over-concentrated;Office building's gradient construction is poor;the radiation effect of the central business district is not obvious. In 2008, the average rental prices of offices and shops are lower than in 2007, respectively for 72.1 yuan/(m2*month) and 51.2 yuan/(m2*month).The rental prices tend to be more rational.Real estate market supply and demand relation are smoothly.The ratios between selling price and rental price of shops and offices are both more than 200.It means the investment returns is less than 4%,and there exists certain degree of foam in commercial real estate market.From the theory about Hedonic price existing methods and research experience,based on tianhe commercial real estate leasing data in 2008,the dissertation tries to build a Hedonic model of tianhe commercial leasing price,fitting the main factors that affect the region shops and offices rental prices. According to the size of the impact factor,the main factors that affect the former is the rail traffic,building area and distance of CBD and population density,etc,respectively weighs 35.52%,17.89%,15.79% and 1.04%;the main factors that affect the latter is distance of CBD,rail transportation, building area and population density,etc,respectively weighs 46.93%,24.27%,13.83% and 0.12%。In addition,this dissertation views the most typical commercial plaza in tianhe on case analysis,transversely compares commercial plaza with the commercial square streets between rents,analysizes that the key success factors of the mall are advantageous geographical position,the transportation network,the ideal of the rail transit,the stability of consumer groups,organic combination of internal supporting and levels of leasing collocation.But there are disadvantages including surrounding commercial real estate projects in commercial real estate,construction of more duplicate overly concentrated and traffic pressure,etc.Finally,this dissertation summarizes the main problems of tianhe commercial real estate,and suggests that the government to strengthen regulation and management and service,strengthen infrastructure and facilities construction, introduce business concept,and the commercial real estate enterprises to base on the condition of themselves,walk the characteristic development road.Hope this research can provide references and help for the government planning and the market decision of the developers.