Research On Comprehensive Evaluation Index Of A Trust Company's Real Estate Investment Based On AHP

Real estate industry has been regarded as a capital-intensive industry because of its long product cycle,large pre-investment,and the influence of sales fund-callback and credit policy.Its development has always been inseparable from the financial market and financing environment.Since year of 2018,the relevant financial regulation policies of the real estate industry have been more intensively released.At the same time,the trust companies as an important financing channel for real estate enterprises,how to identify and control risks scientifically,make comprehensive evaluation,develop real estate investment business and protect the benefits of investors in such a strong regulatory financial environment is a problem worth studying.This paper takes A Trust Company as an example,aiming at using analytic hierarchy process(AHP)to explore and study the comprehensive evaluation index of A Trust Company when making investment evaluations and decisions on real estate projects.Firstly,this paper introduces the current situation of real estate investment business in trust industry,and introduces the background of A Trust Company as well as its current situation of real estate investment business.Secondly,through the study of theoretical literature,this paper analyses several methods of real estate investment evaluation,including Analytic Hierarchy Process,Grey Relevance Degree,Principal Component Analysis,Fuzzy Comprehensive Analysis,and TOPSIS method,from which the AHP is selected as the analysis method of this paper.Based on the research of literature and the actual business experience of A Trust Company,according to the research thinking of AHP,the 3 first-level indicators and 11 secondary indicators are selected as the index system of the real estate investment evaluation.Finally,the quantitative comprehensive evaluation model of A Trust Company's real estate investment is established through the scoring and weight calculation of the experts' group.In addition,this paper also validates the rationality and feasibility of the model through 41 real estate projects invested by A Trust Company.From that the investment criteria of different real estate investment projects of A Trust Company are obtained,and also applied to the investment decision making of 3 on going real estate projects of A Trust Company.This process proves that the index system can avoid the influence of subjective arbitrariness to some extent in real estate investment analysis.It is suitable for A Trust Company and other trust companies to use for reference when making real estate investment evaluations and decisions.