Study On Decision Of Commercial Real Estate Project Location Selection

Having undergone a more than 30 years development and for its profitable return and bright future, the real estate industry in China is attracting more and more investors to involve in. In the event of the profits in the residential real estate market continuously diluting , more and more strong development enterprises begin to turn to the development of commercial real estate market. The characteristics such as massive investment scale and long period for investment bring relatively serious risk to the commercial real estate developers and operators in the process of blind development. As the starting point of a project, the success or failure can be determined by the result of the project location selection to a great degree. However, current research on the real estate industry mainly focuses on the macro aspect such as real estate economics and relevant policies,and attaches insufficient importance to the feasible problems related to development. Against the lack of the informed research, this research made an approach to the study of the theories, methods and procedure of project location selection on the respect of shopping mall, which is one type of commercial real estate.This research will discuss from two aspects: first, the procedure and factors need to be considered in the location selection will be studied, on the base of economics and other relevant theories; second, a feasible and effective model will be established.The research is composed of following parts: the background and study object as well as the significance is discussed in the introduction; the concept and characteristics of commercial real estate, especially the characteristics, the body and procedure of location selection is introduced in chapter two; on the base of relevant theories discussed in chapter three, the principle and factors need to be considered is stated in chapter four; as the core of this research, several main decision-making method is firstly introduced and evaluated, then the idea that taking the commercial real estate project location selection problem as a multi criteria decision making problem is raised, and the solution to this problem using OWA operator is introduced. A numerical example is presented in the next chapter. Finally, the summery in this paper and the prospect of the research in the future is given. The thesis brings forward thoughts and method of commercial real estate project location selection, hoping to provide a useful reference for the decision makers.