| Chinese people always put a high value on housing influenced by the traditionalidea that no home no a stable life. Spurred by booming market supply and demand,Chinese real estate industry has flourished for ten years.The trend of housing prices isupward by and large during these ten years. Land is a limited kind of resource,accompanied by excessive development, land’s supply is decreasing gradually. Theshort supply results in the upward growth of the housing prices. Most of real estateenterprises still afford the land price according to good market prospect, land cost isgrowing more with investment risk increasing more.Till now, a large of consume power has been expended, the high prices areprohibitive for middle and low income groups, the Chinese real estate industry isfaced with a correction. The enterprises must abandon extensive investment strategiesand enforce cost control. The land price is an important part of the cost ofdevelopment, and a large upfront investment, it has a big effect on the follow-up work,so it is very meaningful to study how to determine the land prices.This essay explores the bid internal control price setting model for the real estateland under two circumstances that development scheme is certain or uncertain. Whenscheme is certain, a new bid internal control price setting model is proposed, which isbased on Hanssman-Rivett bid quoted price model and internal control theory. In theprocess of calculating parameters in this model, price index is introduced, which canreduce the difficulty of selecting samples. When scheme is uncertain, current methodis still used, and minimal regret value method is used to select the optimal scheme. Atlast, the model is applied to a land grant case in Changchun city to show the value ofthe new model.Author hopes the new model could help real estate enterprises make morereasonable land bidding decision, and could promote the healthy development ofChinese real estate industry. |
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