Research On I_c In Commodity Housing Project Investment

Along with the unceasingly thorough of our country housing system reform, the commodity housing project investment activity is active day by day, and the competition between the investor is also intense. It is very important to have a feasibility analysis which is detailed and scientific before the investment is carried into execution. But the financial appraisal is an important component in the project feasibility analysis. The economic evaluation parameter of the property development project is the base of the investment in real estates project economic evaluation, the decision of parameter is important to weight competitiveness items of basic construction's profit ability, and to avoid the decision error. Therefore, it is very necessary to find a method to make a decision in commodity housing developmental item finance datum returns ratio.This article is start with analyzing our country commodity housing development present situation aspects form supplies and demand obtained, and analyzing the system risk and non-system risk our country commodity housing developmental item has faced to. What this article main discussion is how to determine the commodity housing developmental item I_c, therefore, the author has collected domestic and foreign already definite datum returns ratio each method which uses, and the exhaustive analysis their merit and the question they existence, made every effort to provide the mentality to the new method innovation . Through to had the risk which and the financing way analysis the model and the method as well as the project face, may know the project before financing, the I_c is mainly decided by the fund capital cost rate, its value may use the CAPM model to extract. Using the property fixed price model, the key question lies in the determination society average investment returns ratio I_m and theβ, the method which this article uses is carries on the area, the individual factor and the time to be listed finance data revises, may result in through the formula computation and, after applying mechanically the capital asset fixed price model may calculate the tax, rights and interests capital cost rate. When project after different way financing, its datum returns ratio also with its financing cost related, by now used the weighted average capital cost law, according to the financing cost and the corresponding weight, calculates the final datum returns ratio. The article applies finally this law in the actual case, has obtained the appropriate result, has verified this method feasibility. Certainly, because this method is also at the exploration stage, definitely will have the new problem in the application, faced with new challenge.