| The real estate assessing is one important part of assets assessing, but it is difficult cause it has the characteristics that assessed single asset has high value and it requires much special knowledge. Assessing result will have great change if the discount rate has little change, and the discountrate is affected by many factors, and the methods to make sure the discount rate have many shortages, so there is much risk in the course of the real estate assessing. The discount rate might be increased or reduced because assessor is short of experience or can't completely understand the assessing object, and there are some assessors purposely increase or reduce the discount rate in order to fulfill some unreasonable requirements of some customers, so the valuation of the assessing objects will be greatly heightened or decreased. Therefore, social economic life is greatly affected. The change of the discount rate is one of the factors that results in state assets lose and financial risk brings, and it will affect the fetching in of the foreign assets, too. So the author improves the methods in existence to acquire the discount rate and presents a new method, and hopes to contribute something to standardization of the real estate assessing. The thesis consists of preface, text and tag. The preface addresses the importance of the real estate assessing, great influence on assessing result and necessity of the discount rate in brief, and introduces the finishing course and structure of the thesis. There are four chapters in the straight matter, which discuss the application, essence, confirming gist and classes of the discount rate and current acquiring methods and their shortages. In Chapter 4, the author discusses the improvement of current methods and the new method to acquire the discount rate with using of data of land assessing in Chengdu on Jan,1th 2000. In the tag the author summarizes the advantage of the new method and its part to be researched continuously. In Chapter 1, the author proves that the discount rate is an important parameter in the course of the real estate assessing. There are some methods in existence such as methods of marketing comparing, remaining, cost approaching, street route pricing, basic land price amending, standard land assessing and income discounting. The discount rate is verycrucial to make sure the assessing result. In Chapter 2, the author introduces the essence and confirming gist of the discount rate, and gives simple classes of them in the real estate assessing. The discount rate has four characteristics, of which one is that its value should be positive number, the second is that its least value must be higher than the current saving interest rate of the bank or the current interest rate of national debt, the third is that it can compensate currency devaluation or increment because of the change of price, the last one is that its value should be different according to risk of the real estate invested. To make sure the discount rate, these interest rates should be taken into account, which are local common interest rate, local costumed interest rate, local land interest rate, general common interest rate, yield of long investment, compound interest rate of mortgage lending rate and remained lending rate, compound interest rate of interest rate without risk and risk compensating, substantial interest rate and interest rate after integrated researching. The discount rate of the real estate assessing includes three kinds, integrated discount rate, construction discount rate and land discount rate. Generally speaking, the land discount rate is lower than the construction discount rate. The three kinds of discount rate associates with each other although they are different, and if any two kinds of discount rate is known the third will be acquired through calculation. In Chapter 3, the author presents several methods in common use to acquire the discount rate and analyzes their shortages. Now there are five methods often used, which are directly compari... |
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