By discussing the characteristics of real estate industry, this paper finds out the causes of real estate investment risks, studies the types of real estate investment, and puts forward real estate investment risks.
In order to help investors minimize the risk under the condition of a certain target return, or make investors get more benefits under the condition of a certain degree of risk.
Keywords: real estate, investment, risk, strategy
Real estate investment is to predict unknown future demand and invest money and other resources.
An investment bank engaged in comprehensive development, operation, management and service of real estate.
In order to obtain uncertain income in the future. Real estate development is a dynamic process.
Process, with the characteristics of long development cycle and large capital investment, is difficult to be correct from the beginning.
The related expenses in the whole development process and the income after completion are estimated accurately, so
There are inevitable risks. The existence of real estate investment risks always affects enterprises and projects.
Purpose poses a threat. If an enterprise wants to grow and develop and its development projects want to succeed,
We must do well in risk management.
1 Causes of real estate investment risks
There are many reasons leading to the risk of real estate investment, and the information is incomplete and inaccurate.
Hasty decision-making is the main reason. The information it is based on is not accurate enough, and it is still the previous investigation.
Careless, too optimistic about the purchasing power and sales prospects of the project will lead to operational errors.
In use, there is a big deviation from the original estimate, and the macro situation is unexpected.
Changes in profits lead to various risks. Manifested as: serious inflation and property in previous years.
The rise in prices induces the rise in the price of building materials and the corresponding increase in the project cost; Currency issuance policy and
Bank credit policy and changes in real estate supply and demand situation; Real estate policy and its formation
Climate. Developers are subjectively interested in the supply and demand of the real estate market, real estate policies,
There are deviations in understanding, judging or grasping financial policies. In addition, natural disasters and Italy
The occurrence of external accidents is also the cause of engineering construction risks in real estate development.
2 Classification of investment risks
1) is divided into natural risk, social risk, market risk and
Technical risk. A. Natural risk refers to the uncertainty of real estate development due to natural forces.
Risks brought by business, such as earthquake, snowstorm, flood and fire. B. Social atmosphere
Insurance refers to risks caused by unpredictable group or individual behaviors, such as strikes and theft.
And so on, including the risks brought by political factors, such as war and rebellion. C. Market trends
Risk refers to changes in supply and demand, inflation, price fluctuation and consumption in the real estate market.
The risks of changing preferences. D. technical risk refers to the progress of science and technology.
Step, the changes in technical structure and related variables bring risks to real estate developers. 2)
According to the nature of risk, it can be divided into pure risk and speculative risk. A. pure risk is also called static risk.
National risk refers to the risk of losing opportunities without making profits, such as earthquakes, fires and
Building materials are stolen, etc. B. Speculative risk, also known as dynamic risk, refers to both lost opportunities and gains.
Benefit from possible risks, such as changes in the relationship between supply and demand in the real estate market and changes in consumer preferences. 3) press
Whether the risk is controllable can be divided into controllable risk and uncontrollable risk. A. controllable risks,
Refers to the real estate developers have a clear understanding of the causes and conditions of risk formation, and can pass.
Take corresponding measures to predict the possibility of risk and control it within a certain range.
Wai. B uncontrollable risk refers to the real estate developers' understanding of the causes and conditions of risk formation.
I don't know, or even if I have a certain understanding, I can't change the external conditions, so it's difficult to get into it.
Production line control and management. 4) According to the real estate development procedure, it can be divided into: real estate investment decision.
Stage risk, prophase risk of real estate investment, stage risk of real estate construction and housing.
Risks in the stage of real estate rental and sale. A. Risk in the decision-making stage of real estate investment refers to real estate development.
Various risks that may occur when making investment decisions on real estate development projects. B. Room
The prophase risk of real estate investment refers to the investment of real estate developers in real estate development projects.
Various risks that may occur in the early stage. The risk in the real estate construction stage refers to the premise.
Various risks that real estate developers may encounter in the construction stage of real estate development projects.
D. Risks in real estate leasing and sales stage refer to the leasing of real estate developers in real estate development projects.
Or various risks that may occur in the sales stage. 5) Risk classification of other real estate investments
The method. In addition to the above four aspects, but also from the scope of risk (local risk,
System risk), occurrence scope (macro risk, micro risk, internal risk and external wind)
Insurance), the degree of risk (mild risk, moderate risk, high risk) and whether it can be insured (yes
Insurable risk, uninsurable risk) and so on.
3 real estate investment risk avoidance and control
1) investment diversification strategy. Decentralization of real estate investment is through decentralized development structure,
To achieve the purpose of reducing risks, it generally includes diversification of investment fields, investment time and methods.
* * * and investment. The regional decentralization of real estate investment is to decentralize real estate investment to
Different regions, so as to avoid the impact of economic downturn on investment in specific regions, the most.
To reduce the risk. And the time dispersion of real estate investment is to determine a combination.
Reasonable investment time interval to avoid losses caused by market changes. * * * Same vote
Capital is also a common way to spread risks. * * * Partners with investment and development needs * * *
With the investment in real estate development projects, the benefits and risks are shared, and the investment is fully mobilized.
The enthusiasm of all parties, maximize their respective advantages and avoid risks. 2) Portfolio
Strategy. Real estate portfolio strategy is based on the risk process of real estate investment.
Degree and annual profitability, in accordance with certain principles for appropriate project selection, supporting investment.
Real estate investment strategy of investing in different types of real estate to reduce investment risk.
For example, real estate developers can invest some money in ordinary houses and invest some.
In high-end office buildings and so on. Its essence is to use the high income of personal real estate investment to save money.
Make up for the loss of low-income real estate, and finally get a more even income. prerequisite
The key of portfolio is how to scientifically determine the rationality of investing in different types of real estate.
Proportion of funds. 3) Strengthen the asset management strategy. Control by strengthening asset management
Risk, whether an investment project can reach the expected level of income, managers are the most
Important key factors. Improve the quality of managers, and then improve the management level, you can
In order to improve the predictability of the market, reduce uncertainty and make more effective use of capital.
Production, reduce operating expenses, reduce vacancy rate, improve income level, and then reduce and control.
Risk. 4) Transfer risks by reasonably changing business forms. Lease real estate business
The lease stipulates that the lessee shall bear all the operating expenses, maintenance expenses and even taxes 3.
Business risks can be transferred to the lessee. Set rent in long-term lease.
If the price index rises and changes accordingly, the purchasing power risk can be transferred to the lessee. [Japanese] Business consortium finance
In the construction contract between the developer and the contractor, it was agreed that the building materials should be purchased by the contractor, which also played a certain role.
Similar effect. 5) Make correct decisions, predict and control risks through market research.
Risk is nothing more than the existence of various uncertain factors in the process of investment and operation, thus making it true
Possibility of international income deviating from expected income. Reduce this uncertainty, thereby reducing this uncertainty.
The best way to deviate is to obtain as detailed information as possible through market research.
Minimize the uncertainty, so as to better control the real estate investment process.
Risk. 6) Insurance strategy. Insurance can reduce or make up for the losses of real estate investors.
Losses, realize the circular flow of funds, and ensure the profits of real estate investors.
Very important significance. Especially for improving the credibility of real estate investors and promoting real estate.
The development of production and business activities has a positive effect. When real estate investors buy insurance,
We should fully consider the types of insurance that real estate investors need to choose and determine the appropriate insurance.
Insurance coverage, reasonable division of dangerous units and original rates, and selection of insurance with good reputation.
Company and other factors.
4 conclusion
Nowadays, with the wave of the world financial crisis sweeping the world, it is under the economic pressure of various industries.
Very large, especially the real estate industry, is most obviously affected by the financial crisis, so its goal is to
Therefore, measures to prevent real estate investment risks can not be ignored. In fact, not everyone.
Risks caused by all risk factors can be eliminated. Risk-free real estate investment
Does not exist. But as long as we can control the risks well, these measures are ok.
Reduce the risk to the lowest possible limit under the condition that the investor's target income is certain, or
Under certain risk conditions, investors can get as much profit as possible.
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