I 摘要 从事房地产投资的人员一直对住宅的关注度不减，近年来城市化和城镇化的 规模不断扩大，人们的生活条件也有了很大的提高。因此，在未来必将对住宅的 购买需求大大增多，越来越多的房地产投资者将会将注意力转向这一市场。伴随 着市场经济的白热化发展，人们的经济水平逐渐提升，大量的民间资本涌入市场 中。合理的投资渠道才能获得更多的收益，由于近年来股票市场的持续低迷情况， 导致了房地产投资热潮的兴起。因为住宅一直是相对于房地产其他类型比较平稳 的要素，因此，借助购买之后的转售以及租赁各项活动能够取得明显的经济效益， 其保值力较强，增值能力也比较大，可以有效的规避各种投资风险。与市面上的 经济金融产品进行比较的话，可以有显著的效益，因此，投资住宅成为了更多人 的选择。 本研究拟站在房地产市场个人投资者角度，以C市内的住宅市场作为研究对 象，在此基础上针对性开展投资决策分析与研究。本文第一章主要对C市住宅房 地产开展个人投资的研究背景、方法，对房地产投资的国内外现状展开了资料调 查研究；然后第二章对理论与方法进行阐述，研究房地产投资与住宅投资的相关 概念，对投资者的购买行为以及影响投资者购买行为的因素进行分析，并介绍相 关方法与分析工具；第三章研究近年来C市住宅房地产市场发展概况以及C市住 宅房地产投资环境分析并分析其未来投资趋势；第四章通过层次分析法来构建住 宅房地产投资评价指标体系，并计算出了各指标权重情况；第五章通过对C市的 两个备选项目进行指标评估，从而比较得出较优的投资方案。 文章以实际案例为例，通过评估位于锦江区的备选项目A与位于武侯城区的 备选项目B，将通过专家打分法，综合评估备选项目的各指标得分情况，并结合权 重，计算出最后的综合得分，从而可以为个人投资者提供科学的方法以及结论的 参考。本研究的开展，在为房地产市场的个人投资者提供决策依据的同时，还可 以使相关群体了解房地产投资项目的影响因素与发展趋势，促进产业的健康可持 续发展。 关键词：个人房地产投资、住宅投资决策、AHP ABSTRACT II ABSTRACT Housing has always been the main object of real estate investment. With the development of urbanization and the strong desire of residents to improve their living conditions, housing will always be the first choice of real estate investment for a long time in the future. With the further development of China's economy, the increase of disposable income of residents, strong private capital, a large number of funds need to find investment channels, while the stock market and other investment channels are in a downturn, which is the economic background of the expanding demand for real estate investment. Because people's demand for housing is more stable than other types of real estate, after purchase, they can obtain stable operating income through resale or leasing, and realize the preservation and appreciation of assets, with low risk. At the same time, compared with other financial products, the income is higher, so housing investment is more favored by people. In this study, from the perspective of individual investors in the real estate market, the residential market in Chengdu is taken as the research object, and on this basis, investment decision-making analysis and research are carried out. In this paper, The first chapter of this paper mainly focuses on the research background and methods of personal investment in residential real estate in Chengdu, and carries out data investigation and Research on the current situation of real estate investment at home and abroad; then the theory and methods are elaborated, to study the related concepts of real estate investment and residential investment, to analyze the purchase behavior of investors and the factors affecting the purchase behavior of investors, and to introduce the relevant methods and analysis tools; to study the recent years Based on the analysis of the basic theory of AHP and the characteristics of the real estate industry, this paper constructs a decision-making model of housing project investment based on AHP, which also improves the scientificity and rationality of the decision-making of housing project investment. Taking the actual case as an example, through the evaluation of alternative project a located in Jinjiang District and alternative project B located in Wuhou urban area, the paper will comprehensively evaluate the scores of each index of alternative project through the expert scoring method, and calculate the final comprehensive score ABSTRACT III combined with the weight.Through the expert scoring method, it comprehensively evaluates the scores of various indicators of alternative projects, and calculates the final comprehensive score combined with the weight. So as to provide reference for the follow-up research. The development of this study can not only provide decision-making basis for individual investors in the real estate market, but also enable relevant groups to understand the influencing factors and development trend of real estate investment projects. Key words: Personal real estate investment, housing investment decision, AHP 目录 IV 目录 第一章 绪论 .................................................................................................................... 1 1.1 选题背景 ........................................................................................................... 1 1.2 研究意义 ........................................................................................................... 3 1.3 房地产投资的国内外研究现状 ....................................................................... 4 1.3.1 国外研究现状 ........................................................................................ 4 1.3.2 国内研究现状 ........................................................................................ 6 1.3.3 文献评论 ................................................................................................ 8 1.4 研究框架 ........................................................................................................... 8 第二章 理论与方法概述 .............................................................................................. 10 2.1 房地产投资与住宅投资 ................................................................................. 10 2.1.1 房地产投资 .......................................................................................... 10 2.1.2 住宅投资 ............................................................................................... 11 2.2 投资者的购买行为分析 ................................................................................. 12 2.2.1 投资者的投资心理特点 ...................................................................... 12 2.2.2 投资者动机分析 .................................................................................. 13 2.3 影响个人投资者购买行为的因素 ................................................................. 14 2.3.1 社会因素 .............................................................................................. 15 2.3.2 个人因素 .............................................................................................. 16 2.3.3 心理因素 .............................................................................................. 16 2.3.4 政策因素 .............................................................................................. 17 2.4 投资者购买决策过程 ..................................................................................... 17 2.5 相关方法与分析工具介绍 ............................................................................. 18 2.5.1 相关研究方法 ...................................................................................... 18 2.5.2 分析工具介绍 ...................................................................................... 18 第三章 C市住宅房地产市场投资现状分析 .............................................................. 20 3.1 C市住宅房地产市场发展概况 ...................................................................... 20 3.1.1 C市住宅房地产历史发展阶段 ........................................................... 20 3.1.2 C市新建商品房供销情况 ................................................................... 21 3.1.3 C市新建商品住宅及存量住宅成交均价情况 ................................... 23 3.1.4 C市房地产市场发展现状