The Research Of Cost Estimating On WY Real Estate Project

Real estate industry in China, after almost10years’ rapid development, isextremely prosperous at present. Meanwhile, the roaring housing price had impactedthe urban populations’ daily life seriously, even impacted the continuous and healthydevelopment of Economy development in China. To advance the healthy developmentof economy and real estate industry in China, our country had took severe monitoringmeasurements on real estate market. Under such rigorous market situation, more andmore developers began to pay more attentions on improving cost management level. Itwill be a key research topic for all developers on how to perform cost managementwell.This paper, based on target cost management, i.e. to take cost control, costaccounting and cost rating on the basis of cost estimation, decision-making and targetdetermination, will make a detailed research on real estate development cost structureand take an overall summarization on cost occurring basis and expense standard, thusdivide the total cost into development cost, development expense and taxes; it willmake a research on cost estimation content and process based on real estatedevelopment cost structure, studying the estimation method of relevant costs thus wecan use different estimation methods for different kinds of costs; finally, the results ofcost estimation, after being reviewed, will be used as target cost of real estatedevelopment project. Target cost management on projects will improve the costmanagement level.This paper will base on WY project to make detailed cost estimation on projectbackground and relevant data to achieve the estimated results on project’s total cost,costs by stages and sales cost, which will be important foundation for project’s costmanagement. At same time, the detailed research on cost estimation, estimationmethodology and process in this paper will be model and reference for other realestate projects.