Valuating land development project by n-fold sequential compound option pricing model: A case study of Real Estate development in Hubei province

• Main Authors: Wu,Shan-Chuan, 吳山川
• Other Authors: Huang,Yu-Lin
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/6b6uye

碩士 === 國立交通大學 === 土木工程系所 === 105 === Real estate is known as a high-yield industry, but its attendant high risk, especially financial risk should be on high alert. How to reasonably assess the financial risks of real estate development projects, and actively control the risk of land development companies is extremely important. Nowadays, real estate land development is based on multi-phase development mode. Only when the feasibility of each period is carefully analyzed, the investment risks and other issues can be better deal with. However, the cash flow method used in traditional real estate investment analysis often ignores the differences between phases, and It is difficult to reasonably evaluate the multi-phase real estate development case. The n-fold sequential compound option pricing model considers multi-phase real estate development case as a compound option, and it provides a better solution to the complex multi-period real estate development evaluation, which makes this complex issue reasonably solved. This paper will use this model in an actual multi-phase real estate development case, in order to get a reasonable answer for the practical.