文档介绍：华中科技大学
硕士学位论文
房地产投资风险分析与投资决策
姓名:张铁平
申请学位级别:硕士
专业:工商管理
指导教师:王韬
20061014
华中科技大学硕士学位论文

摘要
房地产业作为国民经济基础性、先导性产业之一的地位日益巩固,成为当今主
要的投资热点。为适合国际、国内整体形势的需要,用先进的、科学的、完善的理
论研究作为房地产业可持续发展的行动指南,有利于促进房地产业的健康发展。
本文通过对房地产投资基本形式和基本特点的介绍,定性地分析了房地产投资
的风险因素,辨识风险的特征。风险包括确定型风险、随机型风险和不确定型风险
三种,房地产投资企业一般都是用财务指标来判断,如财务指标分析法、盈亏平衡
分析法、敏感性分析法和概率分析法等。针对房地产投资企业的特点,本文对房地
产项目中所涉及到的宏观环境、行业技术和项目自身的风险因素都进行了分析,并
对几个主要风险因素进行了深入研究,通过借鉴项目风险管理的层次分析方法,提
出了房地产项目投资风险指标体系及评价方法。
最后,通过一个较为详尽的房地产投资案例,介绍了投资环境及其投资过程,
分析了房地产投资风险的影响因素,以及在进行房地产投资决策时如何有效控制和
规避投资风险,从定性、定量方面阐述房地产投资决策分析过程。并说明风险指标
体系及评价方法在房地产投资风险分析中的应用。

关键词:房地产风险分析投资决策

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华中科技大学硕士学位论文

Abstract
Real estate as the status that one of the foundation and pillar in national economy
strengthen, so it e the hot field for investment. In order to fit the needs of
development of international and domestic actuality. advanced, scientific and perfect
theory is needed to guide the estate practice.
The risk is departed into confirmed risk, stochastic risk and unconfirmed risk. Many
finance index are usually used to judge the investment risk by the real estate
corporations,and formed finance index analytical method, profit-loss-balanced analytical
method and sensitivity analytical method. The integrity concepts of this paper include:
Introduce the basic form and character of estate investment, With the help of qualitative
analysis of risk factor and identify the risk's author get the system of risk
index and estimate method. The system can resolve the problem, and define the degree of
risk factors.
At the last part of the paper,a particular example is shown to explain the method.
Detailed analysis is given on the factor of real estate venture, investment environment and
investment process of real estate investment, policies of how to control and hedge the
investment risk in the real estate investment decision process, decision making process
from th