预售制对于开发商经营行为选择的影响

The Effect of Pre-sale of Commercial Housing on Real Estate Enterprises' Running Mode

土地是房地产开发企业的基础要素,无论从质还是量上,开发商的土地都难以进行更新,这决定了开发商更注重择机生产,以获取最高利润。然而,是否能够实现择机生产是由其拥有的自有资产的量来决定的,预售制利于开发商在好的行情中快速减少非自有资产,有利于开发商实现择机生产的设想,择机生产的实现会导致房价易涨不易跌。

Land is the basic factor for real estate enterprises, no matter from quality or quantity, real estate enterprises can hardly update the land on their own. In order to get more profits, most real estate enterprises choose to build houses when the price of houses is rising. However, when the enterprises should build houses is not completely decided by themselves, it＇s decided by how much the net assets they would gain. Pre-sale of commercial housing can help them quickly increase their net assets, and then get more power to decide when they should build houses, which would lead the price of houses more easily rising and hardly reducing.