Risk Oriented Real Estate Confidence Assessment
This paper presents an improved approach to assessing the public confidence to the real estate market with an integrated evaluation of all risks in properties development. A real estate confidence index (RECI) for the Chinese market, called CRE Index, is introduced first with regard to three identified diverse aspects, including effective demand and supply, potential demand, and potential supply; and the CRE Index is composed based on its three weighted sub-indices which reflect the value of these three aspects. The weights of the three subindices are derived from multiple risks assessment using analytic network process (ANP), and the ANP model is set up with five criteria clusters to cover social, technical, economic, ecological and political (STEEP) risks related to properties development and one evaluation cluster which consists of three elements that reflect the three sub-indices of the CRE Index. As a result, the embedded risk assessment in the CRE Index provides a new evaluation mechanism to detect the public confidence to the real estate market in terms of all potential risks related across the lifecycle of properties.
Qian Xu Zhen Chen Heng Li Eddie C. M. Hui
MPhil, Lecturer, School of Management, Chongqing Jiaotong University, Chongqing, China PhD, Lecturer, School of the Built Environment, Heriot-Watt University, Edinburgh, UK PhD, Professor, Department of Building & Real Estate, The Hong Kong Polytechnic University,Hong Kong
国际会议
The 1st International Conference on Sustainable Construction & Risk Management(首届可持续建设与风险管理国际会议)
重庆
英文
718-724
2010-06-12（万方平台首次上网日期，不代表论文的发表时间）