Research On Real Estate Investment Decision-making Based On Real Options

In recent years,the phenomenon of population aging in China has been intensified day byday.As a product of the emerging cra,pension real cstate has become a new favorite in the real castate industry.However,as more and more companies set foot in the pension real cstate decision-making strategics to cnsure the effectivencss of investment,how to make scientificdevelopment of pension real estate is the current pension real cstate The difficulty lies in thedevelopment process.Under this background,the research on the evaluation system ofinvestment decision has strong theoretical and practical significance.In order to provide the most reasonable inestment plan,schclars have adopted many methods for in-depth research.The net prescent value method is the mainstream method for thestudy of this problem.There are some deficiencies in the application process.It needs to bemalyzed in a very certain environment,and the results obtained are often too limited.Therefore,this artical uses the real option method to cstablish a real option model in the investmentanalysis of metual project,taking into account the various uncertaintles of the project,so thatthe resulting investment plan is more in line with the actual stuation.This artical takes investment deciaion cvalution system as the main rescarch content,and ecological pension real estate project as the research object.The main results achieved include:(1)Sorted out the development history of domestic and foreign pension real cstate,investment decision evaluation system and real options related research.By referring to the investment cases in the real casate field and the investment model of the pension real cstate project,the evaluation system based on investment decision-making in this paper is formulated,(2)Construct an evaluation system and evaluation model for investment decisions.Based on the analysis of investment decisions using the net present value method,the introduction of real option related methods,based on the principle of the investment decision evaluation system,analyzes the option characteristic indicators of each stage of the project(construction period and operation period)and identifies the project's various stages Types of options(including deferred options,expanded options,abandoned options,narrowed options,etc.);constructed a real estate method as the core pension real estate investment decision-making model.(3)Case analysis and application of evaluation model based on real option theory.On the basis of theoretical analysis,this paper conducts applied research on the A&D ecological pension real estate project.According to the constructed investment decision evaluation system and evaluation model,the evaluation is carried out at each stage of the project.Real Options Super Lattice Solver(SLS)and Matble software are used for data analysis and statistics.Finally,reasonable investment decision opinions are proposed.