资产发展与财务).pptxVIP

Property Development and Finance资产发展与财务;Part 1;CHAPTER 1: INTRODUCTION TO THE PROPERTY DEVELPOMENT PROCESS对房地产开发过程的介绍;Section 1. Introduction ;;Basic Formulas value ? cost = profit GDV ? (building costs + site value) = profit the gross development value (GDV开发总值) GDV ? (building costs + profit) = EUV (existing use value剩余使用价值) ;Some Concepts Value of the site: which depends on location, use (under planning law), topography, legal constraints, ground conditions, services and access .土地价值取决于位置、用途、地形、法律限制、地况和基础设施。 Value of the proposed development: which depends on use, density, design, layout and infrastructure. 预计的开发价值取决于用途、容积率、设计、布局和基础设施。 Cost of construction: which depends on size, design, type of buildings, planning constraints on buildings, landscaping and provision of services and access.建设成本取决于规模、设计、建筑类型、规划约束、景观及基础设施。;Approaches to valuing the development property the investment method投资法（重置成本法）; the comparative method比较法; the contractor‘s test 成本加成法(a cost based method) the profits method收益法; and, the residual valuation余值法. ;Parties in the development process 地产开发的参与者 The professional advisors专家 The clients客户 The planning authority规划部门 The contractor施工方 The community社区 The funders资金方;SECTION 2: THE ECONOMIC CONTEXT OF PROPERTY DEVELOPMENT房地产业发展的经济背景;Two views两种观点 From economists’ aspect宏观政府方面 Economists are basically interested in the influence of property on economic growth and efficiency and the effect of location on firms and jobs. 经济增长和就业 From property developers’ aspect 微观企业方面 Property developers tend to approach property from a different view from economists. They are likely to focus on a narrow band of the property market, more concerned with the marketability and profitability of potential developments. 盈利;Optimal size of building 最优开发规模 ; MR边际收入 = the extra revenue to be earned from the addition of each successive unit of accommodation to a fixed area of land. The extra accommodation is at higher, less accessible l