文档介绍：华中科技大学
硕士学位论文
基于特征价格及线性规划的房地产投资决策研究
姓名:虞达锋
申请学位级别:硕士
专业:工商管理
指导教师:王宗军
20061027
摘要
近年来,随着房地产行业高速发展,我国房地产行业出现了投资规模过高、
速度过快、投资结构不合理、房地产价格上涨过快、空置率过高等系列问题,国
家各部委先后出台各相关政策法规,对房地产行业进行了大力整顿和调控。在此
环境下,房地产开发企业如何科学合理的进行房地产投资决策,成为企业关乎生
存与发展的严峻问题。
本文针对目前房地产投资决策存在的普遍问题,利用特征价格模型及线性规
划并结合传统房地产投资评价指标,建立起房地产投资决策的新方法。该方法通
过特征价格模型揭示房地产开发技术指标(或称特征变量)与房地产价格的数量
关系,建立房地产开发成本与收益的数量函数,利用线性规划可求解出在开发约
束条件下经济上为最优的房地产开发方案。该方法克服了在传统的房地产投资决
策分析中,由于在确定房地产开发技术指标时具有一定的主观经验性,且未能定
量揭示各技术指标对经济指标的贡献或影响,因此只能判断拟定的房地产开发方
案是否可行,却不能判断其是否在经济上为最优方案的缺点,使房地产开发企业
的有限资源能得以合理有效利用,并产生最大经济效益。
最后本文通过应用实例,证明提出的综合方法具有很强的科学性与可操作性,
对房地产开发企业进行房地产投资决策具有很强的指导作用和实用价值。

关键词:房地产投资决策特征价格模型线性规划
Abstract
In recent years, with rapid development of the real estate industry, a series of is-
sues was happened such as the excessive investment scale and speed, unreasonable in-
vestment structure, soaring real estate prices, the high vacancy rate and so on. The sci-
entific and rational investment decision became the critical issues of survival and de-
velopment in the real estate development enterprises.
According to mon problems in the real estate investment decision, a new
investment decision method is explained, bats the hedonic price mode, linear
programming and traditional real estate investment evaluation. Through the quantita-
tive relationship basing on the hedonic price model between the real estate develop-
ment indicators (or characteristic variables) and real estate prices, the function of the
number of real estate development costs and benefits is established. Then the develop-
ment of optimal conditions for the real estate development program can be found using
linear programming solution. The method es some subjective experiential in
the traditional real estate investment decision, which failed to reveal the quantitative
indicators of economic indicators contributions or influence, result in only judge the
feasibility of proposed re