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LHY · 2023年05月07日

可以再解析下原理吗?

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%.

关于going-cap rate 和 growth rate的关系

1 个答案

Lucky_品职助教 · 2023年05月10日

嗨,努力学习的PZer你好:


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

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努力的时光都是限量版,加油!

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