| With the growth of the aging population in China,the nursing home industry has been developing rapidly.That has attracted real estate development companies,financial capital,industrial enterprises and other investors toward to the pension real estate.In order to promote the faster and better development of China's pension industry,it is urgent to explore the development mode of the old-age real estate in China.From the perspective of industry monitoring,that could help to formulate and modify the relevant policies,reduce the government's pension pressure.For consumers,that can provide better services,and their life will be more comfortable.For investors(or operators),it can not only provide them with experience in investment development(or management),but also bring them healthy and steady investment income.This study built and used a cost-oriented investment model to analyze Project Z of the company where the author is working so as to determine the minimum monthly fee of this project according to the company's requirement on the minimum rate of return on investment.Meanwhile,it applied a hedonic price model in deciding the monthly fee of elderly care real estate in Xiamen(the location of Project Z)based on scholars' previous research.A total of 11 indicators on residence price and elderly care market were selected as characteristic variables and generated 3 composite principle components using principal component analysis.SPSS was used to conduct multivariate regression analyses on the data of 29 sample cities and build and test the hedonic price model.It found out that the model is valid and rational to explain and analyze the monthly fee of the local elderly care real estate so as to determine the minimum and maximum monthly fee of elderly care real estate in Xiamen.An integrative analysis on the results of the lowest monthly fee price of project Z by cost-oriented investment model and the monthly fee price range of elderly care real estate project in Xiamen by the hedonic price model came to a reasonable monthly price range for Project Z,which may provide theoretical and practical implications for toll pricing of elderly care real estate in our country. |
