房地产金融与投资（36学时）课程简介

房地产金融与投资（36学时）阐述了涉及不同利率形式的抵押贷款、住宅类和收益类的房地产融资形式、风险分析、房地产项目和土地开发的融资。第一章从法律和利率的角度分别简要介绍了房地产投资与金融知识；第二章和第三章详细描述了固定利率抵押贷款、浮动利率抵押贷款，包括抵押贷款的利率风险、违约风险、抵押贷款付款模式和定价；接下来，本门课程分别讨论了住宅类房地产和收益类（或出租类）房地产的融资分析；第四章和第五章着重介绍住宅类房地产承保与融资以及融资分析，包括抵押贷款承保标准、贷款市值和现金等价等；第六章和第七章则针对收益类房地产的投资和风险加以分析，包括净营业收入、资本化率与折现率的关系、基于现金流量预测的投资绩效计量等；房地产项目融资和开发融资知识在第八章和第九章有具体体现；房地产投资信托作为西方成熟房地产市场的重要资金来源，第十章介绍了这一重要的房地产所有权形式以及如何分析房地产投资信托。

使用教材：威廉姆.B.布鲁格曼. 房地产金融与投资（第十版）. 大连：东北财经大学出版 2000.

Real Estate Finance and Investment (36 class hours)

Real Estate Finance and Investment (36 hours) elaborates the mortgages with different kind of interest rate, residential property financing, income-producing property financing, risk analysis, real estate projects and land development financing. The chapter one introduces the real estate investment and financial knowledge from the point of interest and law. The chapter two and chapter three give a detailed description of fixed rate mortgages and adjustable rate mortgages. The contents include the interest rate risk, default risk, payment methods and pricing of mortgages. This course also discusses the financing analysis of residential property and income-producing property. The chapter four and the five focus on residential real estate underwriting and financing analysis, which include mortgage loan underwriting standards, valuation and cash equivalence. The chapter six and seven discuss the investment and risk analysis of income-producing property, which is concerned with net operating income, capitalization rate and discount rate, investment performance measurement based on the cash flow forecast. The chapter eight and nine are about real estate project financing and development financing. The last chapter provides a basic knowledge on real estate investment trust and analysis methods.

《房地产投资与金融》课程教学进度计划