The Study On Commercial Real Estate Appraisal Of Capitalization Rate By Using Rental And Sales Ratio

The residential real estate is affected by the national macro-control since 2011, the development becomes slow, and commercial real estate has been rapid development. At present, the shops are becoming more and more attractive for real estate investors with the stability of investment income and the value of maintaining value. At the same time,investment, trading and other behavior emerge, and the valuation business rise.In the real estate appraisal, the valuation of commercial real estate belongs to the most basic evaluation business, the income method is the common method to measure the commercial real estate price, and the determination of the capitalization rate index is the most important factor.Because capitalization rate is one of the difficult parameters in real estate appraisal, the domestic appraiser often determine capitalization rate according to their practice experience.Because of the strong subjectivity, the final results of the assessment deviate from the true value.At present, the determination of capitalization rate in domestic real estate appraisal has defects such as" strong subjectivity, greater randomness ", seriously affecting the accuracy of the evaluation results. According to the survey, the most widely used in evaluation is the security interest rate plus risk adjustment method, its value is based on the practice experience of appraisers, and the value of safety interest rate and various risk compensation is lack of authoritative reference standard.Based on the basic theory and principle of capitalization rate and rent ratio, this paper discusses the determination of capitalization rate in commercial real estate based on rent ratio by combining theory and practice, comparative analysis and case analysis.In this paper,the applicability analysis of this method based on the Rental and sales ratio determination method is made by comparing the three calculation methods of capitalization rate.At the same time, combined with the case, the real estate value calculated under the method of determining the capitalization rate ratio has stronger persuasion;Finally, the paper summarizes the content of this paper, and puts forward some suggestions to improve the value of the real estate value by the appraisal agencies and appraisers.This paper has important practical significance to improve the quality of commercial real estate evaluation and to determine the real estate value.