实物期权方法在房地产投资项目评估中的运用

Application of Real Options Method in Real Estate Investment Projects Appraisal

随着我国房地产市场的不断发展与壮大,房地产类投资项目评估作为为企业带来利润、推动房地产市场发展的一项重要工作,越来越受到投资人士的重视。在房地产类投资项目的评估过程中,房地产类项目投资的不可逆、可延迟等特性使得传统的净现值法出现了自身难以克服的缺陷,而实物期权在评估过程中的运用能够使项目评估更加全面、充分、科学。

With the continuous development and strengthening of China＇ s real estate market, as an important work to project appraisal enterprises profits and promote the development of real estate market, assessing real estate projects have been gotten the increasing investor attention. In the process of assessing real estate investment projects, real estate investment pro- jects irreversible, can be delayed and other characteristics make traditional NPV to show some overcome shortcomings, but the use of real options in the assessment process can make assessment project more comprehensively, adequately and scenically.