房地产投资项目资金投入量大、回收周期长、经营风险高。项目决策一旦 失误,将会浪费大量的人力、物力、财力。所以在做出房地产项目投资决策之 前,必须进行可行性研究分析。 本文利用房地产可行性研究的理论对“A 大学住宅区改建项目”进行了可 行性研究分析。首先,阐述了房地产可行性研究的概念、作用和内容,对房地 产可行性研究理论进行了全面的分析和梳理;利用调查研究的分析方法阐述了 项目的基本情况,分析了房地产的政策环境和市场环境,分析了项目所在宗地 的自然、地理、人口等基本情况;依据相应规范对项目的总体规划和初步设计 做了可行性分析,得出除容积率调整具有一定的不确定性外,其他各项指标均 具有可行性的结论;利用比较分析的方法,得出采用“委托管理”模式符合本 项目的建设管理需要;利用指标估算法计算出项目的投资估算为 159439.27 万 元;通过比较分析得出,在建设资金的筹措方面应寻找合作单位共同开发建设 项目;利用投资利润率、财务净现值、财务内部收益率三个计算指标评定了项 目经济上具有可行性;根据实际情况对项目的社会效益和存在的风险进行了阐 述,提出应充分利用国家政策上的支持,认真遴选合作单位做好风险防范;最 后,通过对全文的归纳总结认为“A大学住宅区改建项目”具有可行性。 在本文选用的实例中,项目的建设单位是非盈利性质的事业单位,所以在 研究方法和评价体系的构建上没有照搬房地产行业上的通用做法,而是有所侧 重、层层推进、纲举目张。本文在对于非盈利组织实施项目可行性研究方面具 有一定的推广作用。 关键词:大学住宅区,危房改建,可行性研究 Abstract The real estate investment has a large amount of capital, a long payback period and a high operating risk. Once the project decision-making mistakes, it will waste a lot of manpower, material and financial resources. So before making real estate investment decisions, analysis of the feasibility study must be carried out. In this paper, the feasibility study of “A” university residential reconstruction projects is analyzed by the theory of real estate feasibility study. First, this paper expounds the concept and function of the real estate feasibility study, and content, and it has carried on the comprehensive analysis and comb. Based on the investigation and study analysis methods of this paper expounds the basic situation of the project, analysis of the real estate policy environment and market environment, analysis of the nature of the project in a ground, geography, population and other basic situation. According to the corresponding specification and preliminary design of the project planning, feasibility analysis has been done, in addition to adjust volume rate has certain uncertainty, and other indicators are feasible. This paper has obtained by management mode to meet the need of the project construction management by using the method of comparative analysis. Index estimating method is used to calculate the project investment estimation for 1.5943927 billion Yuan. By comparing and analyzing, the construction financing should look for the cooperation common development and construction projects. Using return on investment, financial net present value, internal rate of return calculation three indicators to assess the project economically feasible. According to the actual situation of project social benefits and risks are described; we should make full use of the national policy support, careful selection of partners to make risk prevention. Finally, this paper summarizes that the project of A university residential renovation is feasible. Keyword: university of residential district,dangerous house renovation, feasibility study 目 录 第 1章 绪 论 .................................................................................................................1 1.1 选题背景及意义 .................................................................................................1 1.2 国内外研究现状与存在问题 .............................................................................2 1.3 报告研究的思路 .................................................................................................3 第 2章 房地产可行性研究的相关理论 .....................................................................5 2.1 房地产开发的概念与流程 .................................................................................5 2.2 房地产开发可行性研究理论概述 .....................................................................5 2.2.1 房地产开发可行性研究的含义 ...............................................................5 2.2.2 房地产开发可行性研究的作用 ...............................................................6 2.2.3 房地产开发可行性研究的依据 ...............................................................7 2.3 房地产开发可行性研究内容 .............................................................................8 2.3.1 项目的基本情况分析 ................................................................................8 2.3.2 投资估算分析 ............................................................................................9 2.3.3 资金筹措分析 ..........................................................................................10 2.3.4 财务评价 .................................................................................................. 11 2.3.5 社会效益和风险分析 ..............................................................................12 2.3.6 结论 ..........................................................................................................12 第 3章 调查分析 .......................................................................................................13 3.1 项目概况 ..........................................................................................................13 3.1.1 项目基本情况 ..........................................................................................13 3.1.2 建设单位概况 ..........................................................................................13 3.1.3 项目背景及建设的必要性 ......................................................................14 3.2 政策环境分析 ...................................................................................................15 3.2.1 房地产政策 ..............................................................................................15 3.2.2 拆迁政策分析 ..........................................................................................16 3.2.3 国家对高等教育投入政策分析 ..............................................................18 3.3 房地产市场环境分析 .......................................................................................19 3.3.1 市场环境分析 ..........................................................................................19 3.3.2 周边楼盘价格 ..........................................................................................21 3.4 宗地情况分析 ...................................................................................................22 3.4.1 自然环境和地质条件 ..............................................................................22 3.4.2 配套市政条件 ..........................................................................................23 3.4.3 交通条件 ..................................................................................................23 3.4.3 项目土地利用现状 ..................................................................................24 第 4章 技术及管理可行性分析 ...............................................................................27 4.1 总体规划及技术实现的可行性分析 ...............................................................27 4.1.1 总体规划指标的可行性分析 ..................................................................27 4.1.2 技术实现的可行性分析 ..........................................................................29 4.2 管理的可行性分析 ...........................................................................................34 4.2.1 项目的工作流程及其进度安排分析 ......................................................34 4.2.2 管理模式的分析与选择 ..........................................................................37 第 5 章 经济可行性分析 ...........................................................................................38 5.1 投资估算分析 ...................................................................................................38 5.1.1 编制依据 ..................................................................................................38 5.1.2 编制说明 ..................................................................................................38 5.2 资金筹措分析 ...................................................................................................40 5.2.1 资金筹措及应用分析 ..............................................................................40 5.2.2 建设模式比选 ..........................................................................................41 5.3 财务评价分析 ...................................................................................................43 5.3.1 前提假定及分项计算说明 ......................................................................43 5.3.2 投资利润率估算 ......................................................................................44 5.3.3 动态财务指标—财务净现值、财务内部收益率 ...................................45 第 6 章 社会效益及风险分析 ....................................................................................46 6.1 社会效益分析 ...................................................................................................46 6.2 风险分析 ...........................................................................................................46 6.2.1 拆迁风险 ..................................................................................................46 6.2.2 融资风险 ..................................................................................................47 6.2.3 项目运作风险 ..........................................................................................48 结论及不足 .................................................................................................................49 致 谢 ...........................................................................................................................51