Research On Investment Decision Of Real Estate Project

The development of the real estate market in our country is divided into three stages.Along with the pace of reform and opening up,the development of the real estate industry from the commercialization of housing reform to becoming a pillar industry of national economy,to carrying out the policy of housing only,no speculation at present.From the high-speed development stage to the inventory stage.Affected by the global novel corona virus epidemic since the end of 2019,China’s real estate market has shown a downward trend,and well-known real estate enterprises are frequently experiencing liquidity debt crisis.Although relevant national departments have successively introduced favorable policies to stabilize the real estate,little effect has been achieved.Based on the above background and the current situation that domestic and foreign research on real estate project investment decision is mainly based on theory,this paper will be more combined with the actual cases of enterprises to make reasonable and prudent investment decision analysis.Based on the theory of real estate investment decision,this paper studies the investment decision of Project A of X Company.Project A is a "community-type model combining urban public transport and land development" project,Transit-Oriented project for short.The analysis of the project starts from the project ontology,including the type of city where the project is located and its development objectives.SWOT analysis is used to analyze the strengths,weaknesses,opportunities and threats of the project itself and surrounding supporting conditions.Secondly,the investment environment of the project is analyzed,including macroeconomic and policy factors in the region where the project is located.Analyze the regional market of the project,including the supply and demand of the land market and the price fluctuation trend,and formulate the project cost calculation table;Market analysis covers the product market research of housing projects,commercial projects and apartment projects in major competitive product markets.Make the sales price list of this project according to the price trend of competitive products in surrounding markets.Thirdly,according to the established cost analysis table,sales plan table and income measurement table,calculate various financial indicators,through the analysis of financial indicators,judge the operability of the project and formulate adjustment plans.Finally,sensitivity analysis is used to select land acquisition cost and selling price to conduct stress test on the project,evaluate the uncertainty,and finally draw the investment decision conclusion and development suggestions of Project A.Through the research of this paper,it proves that X company’s investment decision on A project is feasible.This paper combines the theories learned with practical cases,and tries to study and analyze the investment decision of X Company’s real estate project from various aspects.Hope in the current economic downturn,the market downturn,can give the relevant housing enterprises similar investment projects with practical reference value and significance.