不动产与不动产估价专业词汇

《不动产估价专业词汇》美国估价学会编11版第一章不动产与不动产估价appraisal估价、评估bundleofrights权利束completeappraisal完整性估价consulting咨询eminentdomain征收escheat没收FIRREA金融机构改革、复原和执行法fourpowersofgovernment政府的四种权利leasedfeeestate出租人权益leaseholdestate承租人权益liability责任limitedappraisal限定性估价personalproperty动产policepower管制权，警察权purposeofanappraisal估价目的realestate不动产，房地产realproperty不动产，不动产权利restrictedappraisalreport限制式估价报告reviewappraisal复审性估价self-containedappraisalreport叙述式估价报告statelicensingandcertification州政府颁发地执照和资格证书summaryappraisalreport摘要式估价报告taxation课税tradefixture营业设备、营业装置、商贸设备UniformStandardofProfessionalAppraisalPractice专业估价实务通用标准useofanappraisal估价用途第二章价值的属性assessedvalue评估价值、评定价值cashequivalentprice约当价格constructioncosts建筑成本cost成本、花费demand需求desire欲望developmentcost开发成本direct/hardcost直接成本、硬成本effectivepurchasingpower实际购买力、有效购买力going－concernvalue永续经营价值indirect/softcost间接成本、软成本insurablevalue保险价值investmentvalue投资价值limited－marketproperties限定市场的不动产marketvalue市场价值publicinterestvalue公共利益价值realestatemarket不动产市场，房地产市场scarcity稀缺性special－purposeproperties特定用途的不动产supply供给usevalue使用价值utility效用第三章不动产估价原则anticipation预期conformity适合consistentuse一致性使用contribution贡献elasticityofdemand需求弹性externalities外部性highestandbestuse最高最佳使用highestandbestuseoflandasthoughvacant假设为空地的最高最佳使用highestandbestuseofpropertyasimproved已经改良的不动产的最高最佳使用interimuse暂时使用lawofincreasinganddecreasingreturns报酬递增和递减规律location位置、地方opportunitycost机会成本pointofdecreasingreturns报酬递减点principleofprogression进化原则principleofregression退化原则substitution替代supplyanddemand供给和需求surplusproductivity剩余生产力第四章不动产市场与市场分析absorption吸纳active（seller's）market活跃（卖方）市场depressed（buyer's）market萧条（买方）市场economicbaseanalysis经济基础分析household家居单位全家人long-termcycle长期循环，长周期short-termcycle短期循环，短周期marketanalysis市场分析marketequilibrium市场均衡marketdisequilibrium市场不均衡marketsegmentation市场细分move-updemand改善需求shareofthemarket市场份额strongmarket强势市场submarket次级市场weakmarket弱势市场第五章不动产估价程序allocation分配capitalizationrate资本化率cashflow现金流量comparablesales比较实例competitivesupplyanddemanddata竞争性供给和需求的数据costapproach成本法dateofthevalueestimate价值日期、估价日期definitionoftheappraisalproblem估价事项界定definitionofvalue价值定义、价值界定directcapitalization直接资本化法discountrate折现率、贴现率extraction抽取、提取finalvalueestimate最后价值估计、最终估价额generaldata一般性数据groundrentcapitalization土地租金资本化highestandbestuseoflandasthoughvacant假设为空地的土地的最高最佳使用highestandbestuseofpropertyasimproved已经改良的不动产的最高最佳使用identificationofpropertyrights不动产权利的确认incomecapitalizationapproach收益资本化法incomemultiplier收益乘数limitingconditions限制条件landresidualtechnique土地剩余法landvalueestimate土地价值估计、土地估价preliminaryanalysis初步分析presentvalue现值rangeofvalue价值的范围、价值区间reconciliationofvalueindications估价结果调整reportofdefinedvalue已定义价值的报告restrictedappraisalreport限制性估价报告salescomparisonapproach市场比较法scopeofappraisal估计范围selectionandcollectionofdata数据选择和搜集self—containedappraisalreport叙述式估价报告specificdata详细数据、特定数据subdivisionanalysis局部分析summaryappraisalreport摘要式估价报告trends趋势useorfunctionoftheappraisal估价的用途或作用valuationprocess估价过程、估价程序yieldcapitalization报酬投资化yieldrate报酬率第六章货币市场与资本市场bankers'acceptances银行承兑汇票basispoint基点bond债券、证券businesscycle商业周期capitalmarket资本市场certificatesofdeposit定期存单collateralizedmortgageobligations(CMOs)担保抵押证券commercialbank商业银行commercialmortgagebackedsecurities(CMBs) 商业抵押担保证券commercialpaper商业本票debt债、债务deedoftrust信托契据demanddeposits活期存款disintermediation逆中介dividends股利equity所有者权益、权益Eurodollars欧洲美元FannieMae联邦国民抵押协会FarmerMac联邦农业抵押公司FederalDepositInsuranceCorporation(FDIC)联邦存款保险公司federaldiscountrate联邦贴现率金federalfunds联邦资金、联邦基金FederalOpenMarketCommittee(FOMC)联邦公开市场委员会FederalReserveSystem联邦储备系统FinancialInstitutionsReform，RecoveryandEnforcementAct(FIRREA)金融机构改革、复苏和强化法案Fractionalreservebanking 部分准备银行FreddieMac联邦住宅放款抵押公司generalpartnership普通合伙GinnieMae政府国民抵押协会homeequityloan住宅权益贷款inflation通货膨胀installmentsalecontract分期付款insurancecompany保险公司interestrate利息率interimfinancing临时融资internationalequitycapital国际权益资本jointventure合资公司juniorlien 低位抵押(留置)juniormortgageoriginators低位抵押贷款提供者keyeconomicindicators关键经济指标landcontract土地契约limitedpartnership有限合伙money货币moneymarket货币市场mortgage抵押municipalnotes市政债券mutualsavingsbank互助储蓄银行pensionfund退休基金purchase-moneymortgage(PMM)购买金抵押primerate基本利率realestateinvestmenttrusts(REITS)不动产投资信托realestatemortgageinvestmentconduits(REMICs)不动产抵押贷款投资转手凭证repurchase(andreverserepurchase)agreements回购(逆回购)协定reserverequirement准备金要求reverseannuitymortgage逆年金抵押riskrating风险等级savingandloanassociation储货机构secondarymortgagemarket次级抵押市场securitizationofrealestateinterests不动产权益证券化stock股票stockcorporation股份公司syndication联合募股组织、企业联合组织takeoutfinancing后续长期借款融资timedeposits定期存款Treasurybillornote短期无息国库券或中期国库券Trust信托venturecapital投机资本第七章不动产绝对所有权及部分权利airrights空中权bookvalue账面价值condominium共同管理住宅conservationeasement保护地役权contractrent合同租金cooperative合伙式easements地役权easementsingross总地役权equity资产净值equitysyndication企业联合组织募股feesimple绝对所有权fractionalinterest部分权益generalpartnership普通合伙grosslease租赁总额jointtenancy联合承租权landtrust土地信托leasedfee出租额leasehold租赁leaseholdmortgaging租赁抵押lessee承租人lessor出租人lifeestate终生产业权limitedliabilitycompany有限责任公司limitedpartnership有限合伙契约marketrent市场租金modifiedgrosslease修正后租金总额mortgage抵押netlease净租约partialinterest部分权益partnership合伙preservationeasement保护地役权sandwichlease承租人转让stockcorporation股份公司sublease转租subsurfacerights地下权tenancy租赁权tenancybyentirety整体租赁权tenancyincommon共同租赁权timesharing时间分享transferabledevelopmentrights(TDRs)可转让开发权trust信托第八章资料的搜集与分析absorptionrate吸纳率acceleratedcostrecoverysystem(ACRS)加速折旧方法adjustment修正advaloremtax从价税balanceoftrade贸易均衡buildingpermit建筑许可buildingstart建筑开工businesscycle商业周期capitalizationrate资本化率competitivesupply竞争性供给consideration因素constructioncost建设成本ConsumerPriceIndex(CPI)消费者价格指数cost-estimatingmanual成本估计手册dataarraygrid资料列表debtservice债务服务demand需求depreciation折旧disposableincome可支配收入economicbase经济基础economicbaseanalysis经济基础分析economicindicator经营指标economiclife经济寿命ElectronicDataInterchange(EDI)电子资料交换fieldinspection现场调查forecasting预测generaldata一般资料GeographicInformationSystem(GIS)地理信息系统grossdomesticproduct国内生产总值grossnationalproduct国民生产总值household家庭householdformation家庭构成improvementcostdata建筑物成本资料incomeandexpensedata收入与消费资料listing列表macroeconomicfactor宏观经济因素marketdatagrid市场资料栏microeconomicfactor微观经济因素modifiedacceleratedcostrecoverysystem(MACRS)加速折旧修正法nominalprice名义价格offering提供operatingexpense经营费用platmap地区地图pricelevel价格水平primeinterestrate主要利率proprietarydata私人资料purchasingpower购买力realprice真实价格schooltax学校区税sittingfactor基地坐落因素specificdata特别资历料TopographicallyIntegratedGeographicEncodingandReferencing(TIGER)datafiles地形地理编码参考资料库transactiondata交易资料unemploymentrate失业率unitsofcomparison比较单位vacancyandcollectionloss空置和欠租损失volumeofretailsales零售额wagelevel工资水平第九章邻里与地区agriculturaldistrict农业地区apartmentandmultifamilydistrict多家庭公寓地区businessdistrict商业地区centrualbusinessdistrict(CBD)中心商务区commercialdistrict商业地区communityshoppingcenter社区购物中心ComprehensiveEnvironmentalResponse,Compensation,andLiabilityActof1980(CERCLA)1980年颁布的《综合环境反应、补偿与责任法》decline下降destinationshopping目的性购物displacement替代district地区educationdistrict教育地区environmentalhazards/liabilities环境危险/责任environmentalpropertyassessment(EPRA)不动产环境评估EnvironmentalProtectionAgency(EPA)环境保护署environmentalremediation/cleanup环境补救/清除environmentalsiteassessment(ESA)环保基地评估gentrification更新growth成长hightechnologyparks高科技园区historicdistrict历史性地区industrialdistrict工业地区innocentpurchaser非专业购买jointandseveralliability联合与个别责任linkages关联location区位neighborhood邻里medicaldistrict医药卫生地区neighborhoodordistrictboundaries邻里或地区边界neighborhoodordistrictlifecycle邻里或地区生命周期neighborhoodandstripshoppingcenter邻里与带状购物中心nuisance损害officedistrict办公地区PropertyObservationChecklist不动产观察检验表regionalshoppingcenter区域商业中心researchanddevelopmentpark研究开发园区residentialdistrict居住地区revitalization更新，(新生复兴)single-familyresidentialneighborhood单一家庭住宅邻里sitting地点specialtycenter专卖店stability稳定度strictliability严格责任SuperfundAmendmentsandReauthorizationActof1986(SARA)1986年制定的《超级基金修正再授权法案》superregionalshoppingcenter超级区域商业中心time-distancelinkage时间距离联结tradearea贸易区第十章土地或建筑基地描述abstractoftitle产权摘要assessedvalue评估价值baseline基准线constructivenotice建设通告cornerinfluence角地影响economicunit经济单位excessland超额土地FederalEmergencyManagementAgency(FEMA)联邦紧急状况管理机构Floodplain泛滥平原frontage临街面宽geodeticsurveyprogram大地测量系统governmentsurveysystem政府测量系统landorsiteanalysis土地或基地分析land-to-buildingratio土地对建筑物比率legaldescription法律描述lot(抽签，一块地)andblocksystem宗地和街区系统metesandboundssystem分界系统off-siteimprovement 基地外建筑物on-siteimprovement 基地内建筑物pointofbeginning(POB) 起始点platbook地图册plottage土地分割plottagevalue土地分割价值principalmeridian主子午线quadrangle四边形rangeline范围线rawland生地rectangular(government)surveysystem矩形(政府)测量系统site基地subdivisiondevelopmentanalysis土地分割开发分析surplusland 剩余土地taxparcel 课税宗地totalstation总站township乡镇townshipline乡镇线wetlands湿地第十一章建筑物描述AmericanswithDisabilitiesAct(ADA)of1990 1990年＜美国残疾人法＞asbestos-containingmaterials(ACMS)石棉材料bays隔间buildingcode建筑法规buildingdescription建筑物描述cogeneration集合deferredmaintenanceitems延迟维护部件economiclife经济寿命equipmentandmechanicalsystems设备及机电系统exteriordescription外部描述facade正立面floatingfoundation浮筏基础footing地基framing框架grossbuildingarea(GBA) 总建筑面积grossleasablearea(GLA) 总可出租面积grosslivingarea(GLA) 总居住面积heating,ventilation,andair—conditioning(HVAC)system供热、通风与空气调节系统immediaterepairitems立即修复部件infrastructure基础设施insulation绝缘interiordescription内部描述internalsupports内部支撑系统joists托梁、桁架long-liveditems长寿命项目obsolescence贬值platformconstruction平面结构postandbeamframing梁柱框架process—relatedequipment程序性设施qualityandconditionsurvey质量与状况调查R-valueR值remainingeconomiclife剩余经济寿命short-liveditems短寿命项目solarheating太阳能供热strut支撑studs饰钉substructure地下结构superstructure地上结构useclassification用途分类ventilation通风zonecontrol分区控制第十二章建筑风格与功能Adequacy充足Agriculturalbuildingdesign建筑设计AmericanswithDisabilitiesAct美国残疾人保障法Architecturalstyle建筑风格Architecture建筑(学)Baydepth隔间深度Ceilingheight天花板高度Columnspacing柱间距Commercialbuildingdesign商业建筑设计Compatibility可比较性Conversion转变Elevatorcapacity提升能力Energyconservation能量保持Energyefficiency能量效率Floorload楼层承载力Formalarchitecture 正式建筑Functionalinutility 功能无效Functionalutility功能效用Grassbuildingarea(GBA)总建筑面积Heating,ventilation,air—conditioning(HVAC)systems供热、通风与空气调节系统Hoteldesign旅馆设计Industrialbuildingdesign工业建筑设计Liveload/load—bearingcapacity 活荷载/承载能力Marketstandard市场标准Mixed—usedevelopment(MUD) 多用途开发Pre—engineeredconstruction设计的建筑Parkingratio停车比率Publicamenities公共设施Regionalbuildingstyles地方建筑风格Reinforcedconcrete预应力混凝土Sitting建筑基地Special-purposedesign 特殊用途(建筑)设计Storagebuildingdesign仓储建筑设计Styrofoamforming聚苯乙烯合成树脂装填Temperaturecontrolsystem温控系统Trusssystem桁架系统Vernaculararchitecture地方建筑Workletter工作条件第十三章最高最佳使用分析alternativeuse可替代性使用appropriatelysupported技术可能consistentuse持续性利用criteriavariable标准价值intensityofuse集约化利用interimuses内部利用landresidual土地剩余legallynonconforminguses法律上的非一致性利用excessland 过量土地existinguse 现有使用feasibility可行性financiallyfeasible 财物可行fourcriteria 四项标准legallypermissible 法律许可maximallyproductive产出最大化multipleuses多种使用potentialuse潜在利用singleuse单一使用special-purposeuses特殊目的用途speculativeuses投机性使用idealimprovement理想化的改良物usedensity使用密度surplusland过量土地valueinuse使用价值第十四章土地或基地估价absorption吸纳率adjustments修正allocation分配法deedrestriction契据限制depreciatedcost折旧后成本developer'sprofit开发商利润developmentperiod 开发期directcapitalization 直接资本化法marketingperiod 营销期间offers还价off-siteimprovements 基地外改良物on-siteimprovements 基地内正良物operatingincome 经营收益netoperatingincome 净经营收益netsalesproceeds净销售额right-of-way路权discountedcashflowanalysis 折现现金流量法salescomparison市场比较法extraction抽取法grossincome 总收益groundrent 土地租金easement地役权site基地siteimprovements基地改良物subdivisiondevelopment分割开发unitprice单位价格groundrentcapitalization土地租金资本化法yieldcapitalization报酬资本化法land土地zoning 土地使用分区landresidual 土地剩余法第十五章成本法估价carryingcharges持有费用contractor'sprofit承包商利润costapproach 成本法costestimate 成本估计feasibilitystudy 可行性研究functionalobsolescence功能性退化functionalutility 功能效用incurabledepreciation不可修复折旧curabledepreciation可修复折旧indirectcosts(softcosts)间接成本(软件成本)depreciatedcost折旧后成本depreciation折旧physicaldeterioration实体损坏replacementcost重置成本directcosts(hardcosts)直接成本(硬件成本)reproductioncost重建成本entrepreneurialincentive(profit)企业家奖励(利润)stabilizedoccupancy 稳定入住externalobsolescence 外部性退化第十六章建筑物成本估计basecost基础成本benchmarkbuilding标准建筑comparative-unitemethod比较单位法contractor'soverheadandprofit承包商经营管理费用与利润costindex成本指数cost-indextrending成本指数趋势developer'sfee开发商费用directcosts直接成本entrepreneurialincentiveandprofit企业家激励与利润grossbuildingarea(GBA) 总建筑面积grossleasablearea(GLA) 总可出租面积

grosslivingarea(GLA)总居住面积indirectcosts 间接成本netrentablearea(NRA)净可出租面积projectprofit 项目利润quantitysurveymethod数量调查法replacementcost重置成本reproductioncost重建成本第十七章折旧估计actualage实际使用年龄age-lifemethod年龄-寿命法functionalobsolescence功能性贬值functionalobsolescenceprocedure功能性贬值序列age—lifeprocedureforphysicaldeterioration实体性损坏年龄—寿命法incurablephysicaldeterioration/functionalobsolescence不可修复实体损坏或功能性贬值bookdepreciation账面折旧breakdownmethod分解法long—livedcomponent 长寿命部件marketextractionmethod市场抽取法capitalizationofrentloss租金损失资本化法costtocure修复成本physicaldeterioration实体性损坏costtoreplace重置成本remainingeconomiclife剩余经济寿命curable physical deterioration/functionalobsolescence可修复实体性损坏或功能性贬值remainingusefullife剩余使用寿命replacementcost重置成本reproductioncost重建成本deferredmaintenance(items)递延维护(项目)salvage(抢救，打捞)value回收价值deficiency功能不足short—livedcomponent 短寿命部件depreciation折旧economicfeasibility经济性可行性economiclife经济寿命effectiveage有效使用年龄externalobsolescence外部性贬值superadequacy功能过度totallifeexpectancy总预期寿命usefullife使用寿命vandalism破坏公物者绝对值修正对偶资料分析修正后的出售价格百分比修正第十八章市场比较法absoluteadjustmentpaireddataanalysisadjustedsalepricepercentageadjustmentsadjustmentgrid修正表绝对值修正对偶资料分析修正后的出售价格百分比修正arm's—lengthtransaction 最近成交的交易propertyrightsconveyed转让产权bracketing区间cashequivalency等值现金comparativeanalysis可比性分析conditionsofsale 交易情况qualitativeanalysis 定性分析quantitativeadjustments定量调整rankinganalysis分类分析reconciliation一致性dataarraygrid数据分类表dollaradjustments货币修正relativecomparisonanalysis相对值修正salescomparisonapproach市场比较法economiccharacteristic经济特征secondarydataanalysis 二手数据elementsofcomparison 比较要素sensitivityanalysis敏感性分析expendituresmadeafterpurchase售后费用sequenceofadjustments修正系列financingterms金融术语graphicanalysis图形分析groupeddataanalysis分组数据分析location区位marketconditions市场状况non—realtycomponentsofvalue 价值的非市场性因素statisticalanalysis统计分析transactionaldata交易数据trendanalysis趋势分析unitsofcomparison比较单位use使用zoning区划第十九章市场比较法的运用bracketing 区间（托架［座］）bracket n.墙上凸出的托架，括弧，支架

V.括在一起quantitativeadjustment定量修正dateofValueestimate价值日期rangeofValue价值范围grossadjustment 总修正值rankinganalysis 分类分析groupeddataanalysis分组数据分析reconciliation一致性netadjustment 净修正值unitofcomparison比较单元pointestimate 点估计weighting权重relatiVecomparisonanalysis相对比较分析paireddataanalysis对偶数据分析qualitatiVeanalysis定性分析第二十章收益资本化法after-taxcashflow税后现金流量annuity年金appreciation升值、涨价built-upmethod贴现率构成法bundleofrights权利束businessenterpriseValue企业经营价值capitalrecapture资本回收capitalizationrate资本化率cashflowrate现金流量率contractrent契约租金cashflowrate现金流量率cost-pushinflation成本推动型通货膨胀deflation通货紧缩demand-pullinflation需求推动型通货膨胀directcapitalization直接资本化法discountrate折现率discountedcashflow(DCF)analysis折现现金流分析discounting折现effectiVegrossincome(EGL)有效总收益equitycapitalizationrate(Re) 权益资本化率equityyieldrate(Ye)自有资金报酬率futurebenefits未来利益going-concernValue继续经营价值incomecapitalizationrate收益资本化率incomerate 收益率inflation通货膨胀interestrate 利率internalrateofreturn(IRR)内部报酬率inVestmentValue投资价值leVerage杠杆marketrent 市场租金markerValue 市场价值netoperatingincome(NOI)净经营收益non-realtyinterests非不动产权益价值oVerallcapitalization(Ro)综合资本化率oVerallyieldrate(Yo)总报酬率partialinterest部分权益potentialgrossincome(PGI)潜在总收益pre-taxcashflow税前现金流量realestate不动产realestateinVestment trust(REIT)不动产投资信托realproperty不动产recapturerate回收率residualtechniques剩余法则returnofcapital资本回收returnoncapital资本报酬reversion再出售、回转额riskrate风险利率saferate安全利率securitization证券化timeValueofmoney 货币时间价值yieldcapitalization报酬资本化yieldrate(Y) 报酬率第二十一章收益与费用估计bookdepreciation账面折旧capitalexpenditures资本支出commonareamaintenance(CAM)公共区维修continuedoccupancyclause继续租用条款contractrent契约租金deficitrent赤字租金effectiVegrossincome(EGI) 有效总收益effectiverent 有效租金escalationclause租金调整条款escalationincome租金调涨收益escapeclause终止条款excessrent超额租金exclusiveuseclause排他使用条款expensecap费用上限expenserecovery费用取回expensestop费用止付fixedexpenses固定费用flatrentallease等额租赁契约forecast预测goingcapitalizationrate综合资本化率graduatedrentallease递增租约grosslease 总租赁契约grossrentalbasis总租金基础indexlease 指数租赁契约kick-outclause撤出条款landlordburdenclause地主负担条款lease租约leaseanalysis租约分析leasecancellationclause租约取消条款leasingcommission租赁佣金lineitem(above—the—line/below—the—lineitem)项目界限(线上项目/线下项目)managementcharge管理费用marketrent市场租金mortgagedebtservice抵押贷款netincomeratio净收益率netlease(tripenetlease)净租金(三净租金)netoperatingincome(NOI)净经营收益netrentalbasis净租金基础netsaleproceeds(equityreversion)所有权人净处分价值noncompeteclause禁止竞争条款non-realtyinterest 非不动产权益价值operatingexpenseratio(OER) 经营费用率operatingexpenses经营费用optiontopurchase购买权optiontorenew期权恢复(续租)overagerent额外租金percentagelease百分比租约percentagerent百分比租金potentialgrossincome(PGI)潜在总收益pre-taxcashflow 税闪现金流量proforma形式上的、预计的reconstructedoperatingstatement重编经营报告书renewaloption更新期权renewalconcessions(让步)租金折让replacementallowance 重置提拨款/津贴revaluationlease重新评价租约rightoffirstrefusal首次拒绝权利scheduledrent表定租金semi—grosslease 准总租约step-up(step-down)lease 阶梯式渐增(减)租约tenantimprovementallowance租客改良津贴terminalorresidualcapitalizationrate(Rn)最终式剩余资本化率totaloperatingexpenses总经营费用vacancyandcollectionloss 空置与欠租损失variableexpenses可变费用第二十二章直接资本化法bandofinvestment投资组合buildingcapitalizationrate(Rb)建筑资本化率buildingresidualtecnique建筑物剩余法debtcoverageratio(DCRorNOI/Im)负债保障率(净经营收益/年贷款偿还额)debtservice(Im)年贷款偿还额directcapitalization直接资本化法effectivegrossincomemultiplier(EGIM)有效总收益乘数equitycapitalizationrate(Re)自有资金本化率equityratio(1-M)自有资金比率equityresidualtechnique自有资金剩余法gross income总收益gross incomemultiplier(GIM) 总收益乘数gross rent总租金gross rentmultiplier(GRM) 总租金乘数landcapitalizationrate(Rl)土地资本化率landresidualtechnique土地剩余法landvalue—to—buildingvalueratio土地与建筑物价值比率loan-to-valueratio(M) 贷款与价值比率mortgageconstant(Rm)抵押常数mortgageresidualtechnique抵押剩余法netincomeratio(NIR)(NOI/EGIor1—OER)净收益率netoperatingincome(NOI)净经营收益operatingexpenseratio(OER)(1-NIR)经营费用率overallcapitalizationrate(Ro)综合资本化率potentialgrossincome 潜在总收益potentialgrossincomemultiplier(PGIM) 潜在总收益乘数pre-taxcashflow税前现金流量replacementallowance重置提拨款(重置津贴)residualtechnique 乘0余法weightedaverage加权平均值第二十三章收益资本化法的理论与应用adjustable—orvariable—ratemortgage(ARM/VRM)可调/可变利率低押贷款amortization分期偿还annualdebtservice年贷款本息偿还额annualizerorconversionfactor(a)年转换因子annuitypayableinadvance期初应付年金balanceoutstanding(B)未偿还余额balloonpayment贷款到期未偿还本金余额capitalizationinperpetuity永久年金资本化cashflow现金流量compounding复合compoundinterest复利conversionfactororannualizer(a)年转换因子convertiblemortgage可转换低押贷款debtservice贷款本息偿还额directreductionmortgage直接扣减抵押贷款discountedcashflow(DCF)analysis折现现金流量分析discounting折现effectiveinterestrate有效利率equity自有资金equityyieldrate(Ye)自有资金收益率exponential—curve(constant—ratio)changeperperiod每期指数曲线变动graduated-paymentmortgage 递增支付额抵押贷款Hoskoldpremise霍斯科尔德条件incomemodel收益模型increasingordecreasingannuity增加或减少年金interest-onlymortgage 只付利息抵押贷款Inwoodpremise英伍德条件lender'syield 贷方收益levelannuity 年金水平leverage杠杆原理loanconstant 贷款常数mortgage抵押mortgageconstant抵押常数nominalinterestrate名义利率ordinaryannuity普通年金outstandingbalance(B)未偿还余额overallcapitalizationrate(Ro)综合资本化率overallyieldrate(Yo)综合报酬率participationmortgage参加抵押percentageoftheloanpaidoff(P)贷款偿还百分比periodic(monthly)paymentfactor定期(月)支付因子principal主要的proceedsofresale转售收益propertymodel财产模型reverseannuitymortgage反向年金抵押reversion再出售sharedappreciationmortgage分享增值抵押sinkingfundaccumulationfactor(Sn)偿债基金累计因子sinkingfundfactor(1/Sn)偿债基金因子step—uporstep—downannuity 阶梯式增加/减少年金straight—line(constant—amount)changeperperiod每期直线变动年金terminalcapitalizationrate(Rn)期末资本化率variableannuity变动年金yieldcapitalization收益资本化zero—couponmortgage 零利息抵扌甲couponn.息票,商家的优待券第二十四章折现现金流分析及其在收益法中的应用allocationofvalue价值分配“asis“value现状价值businessenterprisevalue经营企业价值contractrent契约租金discountedcashflow(DCF)analysis折现现金流量分析economicfeasibilityanalysis经济可行性分析excessrent额外租金feasibilityanalysis可行性分析financialfeasibilityanalysis财务可行性分析forecasting预测fouragentsofproduction生产四要素grosssellout售出总量internalrateofreturn(IRR)内部报酬率leasedfeeinterest出租人权益leaseholdinterest承租人权益marketabilitystudy销售性研究marketrent市场租金marketvalue市场价值netpresentvalue(NPV)净现值partialinterest部分权益problemproperty问题不动产proposedproperty建议不动产prospectivevalue未来价值realestateinvestmenttrust(REIT)这动产投资信托sandwichleaseholdinterest三明治租约权益securitization证券化subleaseholdinterest转租承租人权益syndication企业联合组织value“asis” 价值现状valueuponachievementofstabilizedoccupancy/condition稳定状态时不动产价值valueuponcompletionofconstruction建造完工时不动产价值第二十五章价值指示调整accuracy准确性appropriateness适当性confidenceinterval信任区间finalvalueestimate最终价值估计grossadjustment毛修正netadjustment净修正pointestimate点估计probabilityrange几率区间quantityofevidence证据数量rangeofvalue价值区间reasonableness合理性reconciliation调整reconciliationcriteria调整标准rounding(舍入，凑整) 四舍五入第二十六章估价报告appraisalreport估价报告certificationofvalue评估说明compl