Study On The Financial Appraisal Of The Zhongqi Taishanyuan Real Estate Project

With the gradual improvement of people’s living standard, more and more people get involved in the real estate industry, which makes it develop rapidly and contributes a lot to our economy. However, as we all know, great risky is along with the real estate industry development.So, financial appraisal is necessary.This paper tried to analyze the development feasibility through financial evaluation and analysis of the whole process of real estate development projects. Especially through calculation of various indicators of the financial evaluation system, a measurable quantitative criterion was set, which could be used to analyze whether the project benefits in the future meet the requirements of investors.The first part of this paper takes the responsibility of determination of the basic research idea, its framework and the purpose of research, at the same time it tried to understand the present situation of domestic and foreign financial evaluation of the real estate projects to ensure the research theories are contemporary. The second part is a systematic exposition of the basic theories of the financial evaluation, including the definition of the financial evaluation,the related theories, the basic principles of financial evaluation, the basic content of the financial evaluation and complete program process of the evaluation. The third part concludes a comprehensive summary of the financial evaluation index system, the way of index calculation and its practical significance. Also it has an analysis of the uncertainty of financial evaluation, particularly has an emphasis on the control of the risk of investment in real estate projects. The fourth part gives overall analysis of the Regency project, TaishanYuan, Including a macro analysis on the socio-economic development situation of the region as a whole and also on the detailed situation of the local real estate market from a micro perspective, in which particularly I had an analysis of the development prospects of the project, and an estimation of the investment costs. In part V, I have an evaluation of the cost and investment income according the available data, and have a calculation of the financial evaluation index to further test the importance of the index through the critical point analysis and sensitivity analysis techniques, finally have an overall appraisal of the market. The sixth part has a summary of the financial evaluation, and presents some specific conclusions and recommendations, finally has an long-term outlook for the future development of the financial evaluation.The most important point of this thesis is the systematic and comprehensive analysis. It emphasizes the application of theory into practices to find the factors worthy of attention in the whole project development process. On the basis of analysis of real cases, it also explores new theories and methods to further enhance the authenticity and reliability of the financial evaluation results to have a contribute to the real estate project development in the future.