房地产开发项目主要经济评价指标研究——以内部收益率和销售净利率为例-research on main economic evaluation indicators of real estate development projects - taking internal rate of return and net sales rate as examples.docxVIP

提要经济评价是投资项目投资决策的前提和依据，是投资项目管理中的重要组成部 分。房地产开发项目的经济评价是非常必要的，因为房地产开发投资金额较大，开发 周期和回收期较长，并受国家产业政策及资金的时间价值等多种因素的影响。投资者 若想迅速发现并从中获得最具开发潜值的项目，既需要决策科学合理，又要求判断正 确迅速。因此，能否在现行经济评价指标中选择少量核心指标，作为项目快速评价的 依据显得尤为重要。内部收益率和销售净利率是两个重要的盈利能力指标，是判断项目是否可行及项 目优劣的主要依据，是投资者快速决策的需要，本文在梳理了既往研究文献、归纳整 理相关理论基础及现有经济评价指标体系后选择业界最为关注的静态评价指标销售 净利率与动态评价指标内部收益率，作为本项研究分析的重点。首先，通过对两指标 各自的影响因素及指标值的时空变化分析，总结得出两指标的内涵特征与应用特点。 然后通过定性分析和定量分析相结合的办法对指标的关联和差异进行全面解析，并得 出两指标具有一定的关联性，以及两指标受时间因素和价格因素影响有显著差异的结 论。从而让决策者充分了解两个指标的特点及相互关系，在实际操作中更好的应用两 个指标。关键词: 经济评价内部收益率销售净利率AbstractEconomic evaluation is the premise and basis of investment project management, is the important part of project investment decision-making. Economic evaluation of Real estate development project is very necessary because Real estate development needs a large amount of money, and the time to develop real estate project is longer than other projects, the payback period is also longer. What’s more, the real estate industry affected by the national industrial policy and the time value of capital and other factors. The investors are most concerned that how to carry on the project decision-making, how to consider the profitability of the project.Internal rate of return and Net profit rate of sale are the most important index measures ,and they are the basis of project quality to determine whether the project is feasible . So this paper introduces the basic contents of economic evaluation, and takes the internal rate of return and the net profit rate of sale for example mainly, and takes comprehensive analysis on the index. Summed up the economic evaluation theory and the existing economic evaluation index system leads to the main indicators of assessment, then make a comprehensive analysis on indicators.Through the combination of quantitative and qualitative methods, I make a comprehensive analysis on core index. Included the qualitative analysis of index and summarized the influence factors, and the relationship of two indices in application condition