Study On The Application Of Engineering Cost In Real Estate Assessment

China's real estate valuation industry began to develop from 1980 s and it has carried out traditional valuation services which mainly include real estate mortgage valuation,house acquisition valuation and real estate judicial appraisal by more than 30 years ‘steady development.However,with the opening of the 19 th National Congress of the Communist Party,and social progress,The requirement of multiple valuation services and technology also require constant innovation and progress.In the report of the 19 th National Congress of the Party,the National People's Congress proposed to build up a modern economic system,highlighting the need to speed up the development of modern service industry.The real estate valuation industry as an important area of the service industry will usher in new development opportunities,which help the China' economy turn to higher quality development.The report provides us important information on the acceleration of the transformation and upgrading of the real estate industry future.With the deepening of structural reforms on the supply side of the country and continuous optimization of economic structure,the service of real estate valuation is bound to produce new demand,so,various "new,odd,and special" valuation services will continue to emerge,such as the development of the housing rental market,urban renewal,compensation for some real estate expropriation,financial asset management,and protection of historical buildings.On the background,real estate valuation agencies can vigorously develop valuation services in new areas such as shantytown renovation,urban renewal,environmental remediation,real estate tax collection,and co-ownership housing construction.At the same time the housing rental market fields which cover the housing rental enterprise financing,housing rental scientific and reasonable determining,market rent monitoring and other housing rental market areas are also facing great demand for valuation services.As a result of the present real estate valuation industry referring to service brand,service quality and service character in our country could not meet the current market needs,this requires us to continue to study in depth,and we need to follow the industry requirements in the future evaluation work.Keep up with the times and do a fair and impartial valuation service.As far as real estate valuation industry in ourcountry is concerned,the key in perspective is to take a refined development path,not only to speed but also to quality,we should pay strictly attention to the quality and improve the value added of valuation services."The Belt and Road Initiative has built a new bridge for China to expand its overseas market for evaluation services."The Belt and Road Initiative promotes the participation of Chinese companies in the international market and the globalization of resource allocation,so that will improve the efficiency of economic operations," said Zhao jinquan,chairman of the Industrial Survey Group of the Hong Kong Institute of Surveyors and president of Dai Deliang.In this process,more overseas mergers and acquisitions,financial leasing,infrastructure construction,etc,will all require evaluation companies to provide corresponding market research,project analysis,planning proposals,and valuation business support,and which further promote the development of Chinese service enterprises abroad.This paper mainly reviews the development of the Chinese and foreign real estate valuation methods and the main real estate valuation methods in domestic.Based on the specific problems encountered in the evaluation practice,this paper makes an in-depth study and analysis of the application of the construction cost in real estate appraisal,calculates the construction and installation cost through the project cost method,and puts forward some methods for the treatment of individual building,using the project cost data as the basic data for real estate appraisal to improve the accuracy and reliability of real estate evaluation,enhancing the validity of the evaluation results.This paper mainly studies the application of engineering cost in the evaluation technology by using the substitution principle.The research idea of this paper start with the evaluation standard to analyze and explore the project cost involved in the evaluation technology to improve the accuracy of the evaluation results.