房地产评估中还原率计算方法探析.doc

摘 要 Abstract The real estate assessing is one important part of assets assessing, but it is difficult cause it has the characteristics that assessed single asset has high value and it requires much special knowledge. Assessing result will have great change if the discount rate has little change, and the discount rate is affected by many factors, and the methods to make sure the discount rate have many shortages, so there is much risk in the course of the real estate assessing. The discount rate might be increased or reduced because assessor is short of experience or can t completely understand the assessing object, and there are some assessors purposely increase or reduce the discount rate in order to fulfill some unreasonable requirements of some customers, so the valuation of the assessing objects will be greatly heightened or decreased. Therefore, social economic life is greatly affected. The change of the discount rate is one of the factors that results in state assets lose and financial risk brings, and it will affect the fetching in of the foreign assets, too. So the author improves the methods in existence to acquire the discount rate and presents a new method, and hopes to contribute something to standardization of the real estate assessing. Key words: the discount rate； real estate； assessing 目 录 摘 要 I Abstract II 前 言 2 第1章 还原利率在房地产评估中的应用 2 1.1还原利率在房地产评估中的应用 2 1.1.1市场比较法中的应用 2 1.1.2剩余法 2 1.1.3基准地价系数修正法 3 1.1.4收益还原法 4 1.2还原利率对评估结果的影响 4 第2章 还原率的本质、确定依据 6 2.1 还原利率的本质 6 2.2房地产评估中还原利率的确定依据 9 第3章 现有求取还原利率方法及其存在缺陷分析 11 3.1现有求取还原利率的方法 11 3.1.1直接比较法 11 3.1.2加总法 12 3.1.3安全利率加风险调整值法 13 3.2 现有求取还原利率方法的局限性 14 3.2.1 还原利率界定误差 14 3.2.2 现有各种方法主观性很强 16 3.3评估实践中存在的其他问题 16 第4章 求取还原利率方法的改进 18 4.1基本构想 18 4.2实施过程探讨 18 结束语 26 致 谢 28 参考文献 29 前 言 还原利率是房地产评估中不可或缺的重要参数，它的微小变动对于评估结果可以产生巨大的影响。随着我国社会主义市场经济的不断发展和完善，市场交易的种类和数量在不断的增多，为之服务的房地产评估业务也与日俱增，人们越来越认识到房地产评估服务在日常经济生活中所起到的客观、公平和公正作用。房地产评估业务从上世纪八十年代末开始进入我国的社会经济服务体系以来得到了长足的发展，为我国的市场经济建设做出了重大贡献。同时，我们也应该看到，目前我国房地产评估上作还有待进一步规范