实物期权在房地产估价中的应用

The Application of Real Option in Real Estate Evaluation

与传统房地产估价方法相比,实物期权方法考虑了项目投资中管理柔性和战略投资的价值,是一种更为科学的估价方法。本文在对房地产投资估价中的期权特性进行分析的基础上,用实物期权理论对房地产投资中的等待期权进行估价,并通过案例分析说明其在实际中的应用。

Contrasting with the traditional evaluation method, the real option theory is a more scientific one that considers the value of the management flexibility and strategic investment. On the basis of analyzing the optional characteristics of the real estate investment evaluation, the paper evaluates the waiting option with the real option theory and explains its application in practice through a case.