Ehitise tasuvusanalüüs Tartus asuva kortermaja näitel

Tatter, Sigrit (2020) Ehitise tasuvusanalüüs Tartus asuva kortermaja näitel. [thesis] [en] The Cost-Benefit Analysis of a Building Based on an Example of an Apartment Building in Tartu.

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Abstract

Lõputöö eesmärgiks oli analüüsida Tartus ehitatava korterelamu projekti arendusmaksumust ja selgitada, millisel projektil on eeldus olla lühema müügiperioodiga ning teenida kõrgemat tootlust. Eesmärgi täitmiseks võrdles töö autor olemasolevat ja alternatiivset ligi 10% vähendatud suletud netopinnaga projekti. Analüüsi koostamiseks muudeti olemasoleva korterelamu põrandapinda selliselt, et korterite suurus oleks ligikaudu 45 m2. Lõputöö fookus oli suunatud ehitusmaksumusele, seega uut projekti ei koostatud. Olemasolevatel plaanidel näidati netopinna vähendamisega seonduvad mahumuudatused. Autor uuris lõputöö käigus kinnisvara olemust, müügihinna kujunemist ja kinnisvaraarenduse investeerimisriske. Seejärel kirjeldati uuritavat objekti ja plaaniliste muudatuste läbiviimise põhimõtteid. Teostati uued mahuarvutused alternatiivsele projektile, mille alusel prognoositi olemasoleva projekti eelarve alusel korrigeeritud ehituseelarve. Autor selgitas arendusmaksumuse, investeerimiskulude, arendusprojekti kulude ja tulude sisu ja erinevusi võrreldavate projektide näitel. Projekti tasuvust hinnati elueakulude tasuvusanalüüsi baasil. Lõputöö tulemusena valmis analüüs, mis annab vastuse, millisel kujul oleks otstarbekas projekti teostada, et võiks eeldada kiiremat müüki ja saavutada kõrgeim tasuvus. Käesolev lõputöö annab arendaja küsimusele vastuse, kas ehitades väiksemaid kortereid, muutub müügihind piisavalt madalaks võrreldes olemasolevate korterite müügihinnaga, et seeläbi kiirendada korterite müüki ja vähendada tekkivaid lisakulusid. Ehitusmaksumust ja müügihinda muutes oli oluline säilitada samaväärne tasuvus võrreldes esmase projektiga.

Abstract [en]

The Cost-Benefit Analysis of a Building Based on an Example of an Apartment Building in Tartu. The goal of the thesis was to analyse the development cost of a project of an apartment building in Tartu, and, to determine the optimal project that would have the fastest and shortest sales period and the best rate of return. The current research paper compares the existing project to an alternative project with a closed net area reduced by 10%. As the project is an investment, the interest of the developer is to reduce construction costs and sales- related risks. The focus of the current thesis is on construction costs and the analysis of construction costs, as the author of the thesis estimates that they form the majority of the overall costs of the development. The research part of the current thesis gives an overview of the essence of real estate, and the risks and price formation of real estate. Next, the closed net area of the initial project will be reduced in such a way that the size of the apartments will approximately be 44-45 m2 each. Then, new deductions are to be conducted, based on which a construction budget will be developed for the alternative project. Finally, the budgets, development costs and investment return of the existing and the alternative projects will be analysed based on net present value. As a result of the thesis, an analysis and an assessment of the project were developed for mapping out whether and how it would be feasible to implement the project in order to achieve the highest cost efficiency. It may be concluded than when constructing apartment buildings, the larger the exterior borders of the building, the cheaper the unit costs. It can also be concluded that due to the reduction of net area, the sales price of apartments shall drop. This is in a direct correlation with the square- meter based price formation. It can be presumed than when sales prices drop, the sales period shall become shorter. Based on the calculations of life cycle costs, it may be concluded that all the projects analysed in the current thesis are profitable. However, higher annual discount rate and longer sales periods will result in the decrease of rate of return.

Item Type: thesis
Advisor: Pille Hamburg
Subjects: Construction > Building Construction > Construction Economics
Divisions: Institute of Construction > Building Construction
Depositing User: Sigrit Tatter
Date Deposited: 04 Jun 2020 08:03
Last Modified: 04 Jun 2020 08:03
URI: https://eprints.tktk.ee/id/eprint/5195

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