【正文】
h supply and demand on a local market level房地產(chǎn)的持續(xù)性導(dǎo)致對(duì)地方市場(chǎng)供求的不當(dāng)調(diào)整? Studying the underlying forces creating supply and demand for real property研究形成房地產(chǎn)供求的潛在力量2. Regional and Community Analysis區(qū)域和社區(qū)分析? Cause of Urbanization 城市化的結(jié)果? City Spatial Form and Growth 城市空間形態(tài)和增長(zhǎng)? Regional Analysis 區(qū)域分析? Regional analysis techniques: economic base analysis, regional inputoutput analysis 區(qū)域分析方法:經(jīng)濟(jì)基礎(chǔ)分析,區(qū)域投入產(chǎn)出分析Regional and Community Analysis區(qū)域和社區(qū)分析? Population Trends and Characteristics人口趨勢(shì)和特征? Economic Measures of Community Growth社區(qū)增長(zhǎng)的經(jīng)濟(jì)量化? Land Use Pattern 土地利用模式Regional and Community Analysis區(qū)域和社區(qū)分析? Neighborhood Defined 鄰里的定義? The Neighborhood Age Cycle 鄰里單元的周期3. Neighborhood Value Analysis鄰里單元價(jià)值分析臨街土地價(jià)值時(shí)間成熟期成長(zhǎng)期衰退期 向次級(jí)經(jīng)濟(jì)活動(dòng)轉(zhuǎn)變老化期?Neighborhood Characteristics 鄰里單元的特征? Physical features 物質(zhì)特征? Demographic characteristics 人口特征? Economic influences 經(jīng)濟(jì)影響3. Neighborhood Value Analysis鄰里單元價(jià)值分析Highest and Best Use Principle最高與最好使用原則Highest and Best Use Principle最高與最好使用原則? Concepts? Present value? Amortization? Value, capital rate, and rent (Net operating ine—rent)? Future value (=0)? Highest and best use analysis? 概念? 現(xiàn)在價(jià)值? 分期償還? 價(jià)值,資金率和租金(凈收益 —— 租金)? 未來(lái)價(jià)值? 最高與最佳使用分析Highest and Best Use Analysis最高與最好分析? The highest and best use of vacant land閑置土地的最高與最佳使用? The highest and best use of the improved site已開(kāi)發(fā)土地的最高與最佳原則Highest and Best Use Analysis最高與最好分析Four criteria:? Physical possible: size, shape, terrain, capacity, availability of utilities etc.? Legally permissible: restriction, zoning, building codes, environmental regulations and others laws.? Financial feasible: if the project produce an ine or return equal to or greater than the amount needed to cover costs.? Maximally productive.四項(xiàng)條件:? 物質(zhì)上可行:尺寸,形態(tài),地形,容量,服務(wù)設(shè)施等? 法律上允許:限制,分區(qū),建筑規(guī)范,環(huán)境規(guī)則和其他法律? 經(jīng)濟(jì)上可行:如果項(xiàng)目產(chǎn)出等于或大于投入? 最大生產(chǎn)率Apartment Office Retail公寓 辦公 零售Cost of construction $1,021,600 $928,000 $817,300建設(shè)投資Effective gross ine 有效毛收入 $ 265,000 $ 200,000 $180,000Operating expenses $ 135,000 $ 80,000 $ 69,000運(yùn)營(yíng)費(fèi)用 $ 130,000 $ 120,000 $111,000Assuming a 20 yearyear life for the building, then PV = the cost of construction, FV = 0, i=1, n=20.Highest and Best Use for a Vacant Lot閑置土地的最高與最佳使用For Apartment:NOI to land = NOI of total building amortization cost$10,000 = $130,000 $120,000Site Value: V=R/I = 10,000/ = $100,000Apartment Office RetailIne to building 10% $120,000 $109,000 $96,000Ine to site $ 10,000 $ 11,000 $15,000Indic