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LHY · 2023年05月06日

going-in rate本身不就是等于r-g吗?

NO.PZ2018111302000003

问题如下:

In order to value a property with constant growth rate in income and value using DCF method, an analyst collects below DCF assumptions: Going-in cap rate is 5.5%, terminal cap rate is 6%, discount rate is 7.25%, what’s the growth rate of the target property?

选项:

A.

0.50%

B.

1.25%.

C.

1.75%.

解释:

C is correct.

考点:DCF assumption

解析:被投资房地产的收入和价值都是一致的增长率,等于折现率discount rate (7.25%) – 现行的资本化率going-in cap rate (5.50) = 1.75%.

going-in rate本身不就是等于r-g吗?

要是带入公式,岂不是等于直接加了一个g

1 个答案

Lucky_品职助教 · 2023年05月10日

嗨,爱思考的PZer你好:


没看明白你的问题哦,

Going-in cap rate is 5.5% = discount rate is 7.25% -g,倒推出g=1.75%.

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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