{"id":585,"date":"2020-02-11T15:23:37","date_gmt":"2020-02-11T12:23:37","guid":{"rendered":"http:\/\/nalog.fr\/sqliste-e-plote-bleresi-cfare-duhet-te-dini-para-se-blerjen-e-pasurive-te-patundshme-komerciale\/"},"modified":"2020-02-11T15:23:37","modified_gmt":"2020-02-11T12:23:37","slug":"sqliste-e-plote-bleresi-cfare-duhet-te-dini-para-se-blerjen-e-pasurive-te-patundshme-komerciale","status":"publish","type":"post","link":"https:\/\/nalog.fr\/sq\/sqliste-e-plote-bleresi-cfare-duhet-te-dini-para-se-blerjen-e-pasurive-te-patundshme-komerciale\/","title":{"rendered":"List\u00eb e plot\u00eb bler\u00ebsi: \u00e7far\u00eb duhet t\u00eb dini para se blerjen e pasurive t\u00eb patundshme komerciale"},"content":{"rendered":"<p>Bler\u00ebsit e pron\u00ebs jasht\u00eb vendit jan\u00eb gjithnj\u00eb e m\u00eb par\u00eb jo vet\u00ebm si streh\u00eb, por edhe si nj\u00eb objekt p\u00ebr investime fitimprur\u00ebse, sidomos n\u00eb koh\u00ebn e kriz\u00ebs. N\u00eb studimin &#8220;Cranio&#8221; p\u00ebr 2014 atraktivitetin e investimeve \u00ebsht\u00eb p\u00ebr Rus\u00ebt e dyt\u00eb faktori m\u00eb i r\u00ebnd\u00ebsish\u00ebm kur blerja e pron\u00ebs jasht\u00eb shtetit.<\/p>\n<p>N\u00eb krahasim me blerjen e sht\u00ebpi pushimi t\u00eb investuar n\u00eb prona komerciale t\u00eb k\u00ebrkoj\u00eb m\u00eb shum\u00eb nj\u00eb qasje serioze dhe analiz\u00eb t\u00eb plot\u00eb. P\u00ebr t\u00eb kursyer koh\u00eb dhe p\u00ebr t\u00eb shmangur gabimet e kushtueshme, para se t\u00eb blesh ju duhet t\u00eb dini n\u00eb baz\u00eb t\u00eb parametrave t\u00eb projektit investues:<\/p>\n<ul>\n<li>vendndodhja;<\/li>\n<li>buxhetit;<\/li>\n<li>shpenzimet;<\/li>\n<li>karakteristikat e marr\u00ebveshjes mbi qiran\u00eb;<\/li>\n<li>t\u00eb jap\u00eb;<\/li>\n<li>rreziqet;<\/li>\n<li>financiare;<\/li>\n<li>opsionet e menaxhimit;<\/li>\n<li>nj\u00eb strategji dal\u00ebse nga projekti.<\/li>\n<\/ul>\n<h2>Location<\/h2>\n<p>N\u00eb cilat vende \u00ebsht\u00eb kryesisht nj\u00eb funksion i p\u00ebrfitueshm\u00ebrin\u00eb e saj, rreziqet dhe t\u00eb likuiditetit. P\u00ebr shembull, besimi investimet n\u00eb qytetet e m\u00ebdha t\u00eb Austris\u00eb, Britania e madhe, Gjermania, SHBA dhe Franc\u00eb. Studimi i informacionit rreth objektit vend, ju duhet t\u00eb i kushtoj v\u00ebmendje jo vet\u00ebm t\u00eb vendit dhe qytetit, por zon\u00ebn n\u00eb t\u00eb cil\u00ebn ndodhet prona, p\u00ebrkat\u00ebsisht:<\/p>\n<ul>\n<li>infrastruktura: p\u00ebr shembull, duke investuar n\u00eb nd\u00ebrtesa banimi \u00ebsht\u00eb e r\u00ebnd\u00ebsishme prania e af\u00ebrta Parking, dhe objekte sociale dhe dyqane;<\/li>\n<li>avantazhet dhe perspektiv\u00ebn e zon\u00ebs: kjo varet n\u00ebse t\u00eb rritet n\u00eb t\u00eb ardhmen t\u00eb vler\u00ebs s\u00eb objektit dhe t\u00eb ardhurat nga qiraja;<\/li>\n<li>t\u00eb sh\u00ebrbimeve t\u00eb transportit rrethit: ku \u00ebsht\u00eb pika m\u00eb e af\u00ebrt e transportit publik t\u00eb ndaluar, n\u00ebse nuk ka qasje t\u00eb lir\u00eb n\u00eb rrug\u00eb, \u00e7far\u00eb \u00ebsht\u00eb distanca t\u00eb m\u00ebdha t\u00eb transportit nyjet.<\/li>\n<\/ul>\n<h2>Buxheti<\/h2>\n<p>Si rregull, bler\u00ebsit jan\u00eb investuar n\u00eb pron\u00ebn komerciale k\u00ebrkon nj\u00eb minimum prej 2,5 milion\u00eb Euro, si me nj\u00eb sasi m\u00eb t\u00eb vog\u00ebl t\u00eb v\u00ebshtir\u00eb p\u00ebr t\u00eb gjetur dhe t\u00eb kualitetit t\u00eb ul\u00ebt rreziku objekt. E buxhetit varet n\u00eb mas\u00eb t\u00eb madhe n\u00eb zgjedhjen e llojit t\u00eb pasurive t\u00eb patundshme.<\/p>\n<\/p>\n<h3>Llojet e pasurive t\u00eb patundshme komerciale dhe parametrat e tyre<br \/>\nTranio t\u00eb t\u00eb dh\u00ebnave (mesataren e vlerave t\u00eb rekomanduara)*<\/h3>\n<table class=\"left\">\n<tr>\n<th>Llojet<br \/>\nobjektet<\/th>\n<th>Rendimenti,<br \/>\n% p<\/th>\n<th>Koh\u00eb<br \/>\nkontrata<br \/>\nqira<\/th>\n<th>Avantazhet<\/th>\n<th>Disavantazhet<\/th>\n<\/tr>\n<tbody>\n<tr>\n<th colspan=\"5\"><strong>Nga 300 mij\u00eb euro<\/strong><\/th>\n<\/tr>\n<tr>\n<td>Apartament (afat t\u00eb shkurt\u00ebr me qira)<\/td>\n<td>5-7<\/td>\n<td>Nga 1 dit\u00eb<\/td>\n<td>T\u00eb lart\u00eb t\u00eb likuiditetit; krahasuar me afatgjate p\u00ebr qiradh\u00ebnie \u2014 rendimenteve m\u00eb t\u00eb larta dhe ka probleme me d\u00ebbimin e qiramarr\u00ebsit; potenciali p\u00ebr rritje me qira<\/td>\n<td>Rreziqet dhe menaxhimin e joproduktive; krahasuar me nj\u00eb afat-gjat\u00eb qira \u2014 m\u00eb t\u00eb shpejt\u00eb t\u00eb veshin<\/td>\n<\/tr>\n<tr>\n<td>Apartament (afat gjat\u00eb qiraja)<\/td>\n<td>2-3<\/td>\n<td>Se 1 vit<\/td>\n<td>T\u00eb lart\u00eb t\u00eb likuiditetit; k\u00ebrkesa e lart\u00eb nga qiramarr\u00ebsit, t\u00eb q\u00ebndrueshme edhe gjat\u00eb kriz\u00ebs<\/td>\n<td>Rreziqet dhe menaxhimin e joproduktive; probleme me d\u00ebbimin e qiramarr\u00ebsve<\/td>\n<\/tr>\n<tr>\n<td>Banimit t\u00eb student\u00ebve<\/td>\n<td>4-6<\/td>\n<td>Nga 6 muaj<\/td>\n<td>K\u00ebrkesa e lart\u00eb nga qiramarr\u00ebsit<\/td>\n<td>N\u00eb krahasim me apartamente \u2014 m\u00eb t\u00eb ul\u00ebt t\u00eb likuiditetit, \u00ebsht\u00eb e v\u00ebshtir\u00eb p\u00ebr t\u00eb repurpose<\/td>\n<\/tr>\n<tr>\n<th colspan=\"5\"><strong>Nga 2.5 milion\u00eb euro<\/strong><\/th>\n<\/tr>\n<tr>\n<td>Apartament sht\u00ebpi<\/td>\n<td>3-5<\/td>\n<td>Se 1 vit<\/td>\n<td>T\u00eb lart\u00eb t\u00eb likuiditetit dhe rritjen e mundshme t\u00eb kapitalizimit<\/td>\n<td>T\u00eb ul\u00ebt t\u00eb jepnin, shum\u00eb e qiramarr\u00ebsve, problemet, d\u00ebbimin, duhet nj\u00eb kompani t\u00eb menaxhimit<\/td>\n<\/tr>\n<tr>\n<td>Rrug\u00eb e dyqane<\/td>\n<td>3-4<\/td>\n<td>3-10 vjet<\/td>\n<td>T\u00eb lart\u00eb t\u00eb likuiditetit dhe rritjen e mundshme t\u00eb kapitalizimit<\/td>\n<td>T\u00eb ul\u00ebt t\u00eb jepnin<\/td>\n<\/tr>\n<tr>\n<td>Supermarkete<\/td>\n<td>5-6,5<\/td>\n<td>12-15 vjet<\/td>\n<td>T\u00eb jepnin t\u00eb lart\u00eb, afatgjat\u00eb kontratave<\/td>\n<td>Af\u00ebr skadimit t\u00eb afatit t\u00eb kontrat\u00ebs, m\u00eb t\u00eb ul\u00ebt t\u00eb likuiditetit<\/td>\n<\/tr>\n<tr>\n<th colspan=\"5\"><strong>Nga 10 milion euro<\/strong><\/th>\n<\/tr>\n<tr>\n<td>Sht\u00ebpi pleqsh<\/td>\n<td>5-6,5<\/td>\n<td>20-25 vjet<\/td>\n<td>Rritja e numrit t\u00eb pensionist\u00ebve, afatgjat\u00eb kontratave<\/td>\n<td>\u00cbsht\u00eb e v\u00ebshtir\u00eb p\u00ebr t\u00eb repurpose<\/td>\n<\/tr>\n<tr>\n<td>Qendrat tregtare<\/td>\n<td>4-6<\/td>\n<td>5-15 vjet<\/td>\n<td>T\u00eb lart\u00eb t\u00eb jepnin<\/td>\n<td>Rreziqet p\u00ebr menaxhim t\u00eb nj\u00eb numri t\u00eb madh t\u00eb qiramarr\u00ebsit<\/td>\n<\/tr>\n<tr>\n<td>Hotele<\/td>\n<td>4-6<\/td>\n<td>10-20 vjet<\/td>\n<td>T\u00eb lart\u00eb t\u00eb jepnin<\/td>\n<td>\u00cbsht\u00eb e v\u00ebshtir\u00eb p\u00ebr t\u00eb repurpose<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>* Mesatarja e vlerave t\u00eb objekteve:<\/p>\n<ul>\n<li>n\u00eb zonat e pasura t\u00eb m\u00ebdha t\u00eb qyteteve Evropiane;<\/li>\n<li>objekte t\u00eb reja, ose pas m\u00ebdha riparime;<\/li>\n<li>kontrat\u00eb qiraje n\u00eb fillim t\u00eb periudh\u00ebs s\u00eb vlefshm\u00ebris\u00eb.<\/li>\n<\/ul>\n<h2>Kostoja e blerjes dhe t\u00eb mir\u00ebmbajtjes<\/h2>\n<p>Gjat\u00eb planifikimit t\u00eb buxhetit \u00ebsht\u00eb vler\u00eb duke pasur parasysh se kostoja e p\u00ebrpunimit t\u00eb transaksioneve t\u00eb variojn\u00eb nga 5% deri 20% t\u00eb projektit kostoja n\u00eb var\u00ebsi t\u00eb llojit t\u00eb pron\u00ebs, t\u00eb \u00e7mimeve, dhe lloji i transaksionit. Shpenzimet e tilla p\u00ebrfshijn\u00eb sh\u00ebrbime noteriale dhe koston e shtetit t\u00eb regjistrimit, t\u00eb bler\u00eb tatimore, Komisioni dhe nd\u00ebrmjet\u00ebsi shpenzimet n\u00eb procedur\u00ebn e verifikimit ligjor past\u00ebrtin\u00eb e transaksionit \u2014 Kujdesi i Duhur.<\/p>\n<p>P\u00ebrve\u00e7 k\u00ebsaj, pas blerjes s\u00eb pronarit duke pritur p\u00ebr shpenzimet: shpenzimet p\u00ebr sh\u00ebrbimet e menaxhimit t\u00eb kompanis\u00eb, kompanive dhe riparime, sigurimet dhe tatimet (tatimi n\u00eb pron\u00eb dhe tatimit t\u00eb korporat\u00ebs). Investitor\u00ebt jan\u00eb t\u00eb k\u00ebshilluar q\u00eb t\u00eb i kushtoj v\u00ebmendje t\u00eb pranis\u00eb s\u00eb p\u00ebrjashtimet nga taksat dhe zbritjeve dhe kushtet p\u00ebr pranimin e tyre. Ata n\u00eb m\u00ebnyr\u00eb t\u00eb konsiderueshme mund t\u00eb reduktoj\u00eb kostot dhe p\u00ebr t\u00eb rritur fitimet.<\/p>\n<p>\u00c7far\u00eb shpenzimet jan\u00eb n\u00eb ngarkim t\u00eb pronarit dhe t\u00eb cilat qiramarr\u00ebsi varet nga lloji i kontrat\u00ebs s\u00eb qiras\u00eb.<\/p>\n<h2>Qiramarr\u00ebsit dhe marr\u00ebveshje p\u00ebr qiradh\u00ebnie<\/h2>\n<p>Kur studimi i kushteve t\u00eb qiras\u00eb duhet t\u00eb p\u00ebrcaktoj\u00eb, n\u00ebse objekti \u00ebsht\u00eb i porositur, i cili \u00ebsht\u00eb nj\u00eb spiranc\u00eb e operatorit dhe \u00e7far\u00eb \u00ebsht\u00eb besueshm\u00ebria e individ\u00ebve apo kompanive t\u00eb dh\u00ebnies me qira t\u00eb hap\u00ebsir\u00eb. Ju duhet t\u00eb i kushtoj v\u00ebmendje p\u00ebr p\u00ebrqindjen e dh\u00ebn\u00eb me qira t\u00eb hap\u00ebsir\u00eb \u2014 n\u00eb m\u00ebnyr\u00eb ideale, mesatarja vjetore e shfryt\u00ebzimit t\u00eb kursit do t\u00eb jet\u00eb jo m\u00eb pak se 90 %.<\/p>\n<p>Gjithashtu me r\u00ebnd\u00ebsi \u00ebsht\u00eb lloji i qiras\u00eb (kjo varet nga shuma e kostove t\u00eb mir\u00ebmbajtjes, dhe, k\u00ebshtu, marzhet e fitimit).<\/p>\n<\/p>\n<h3>Llojet e qiras\u00eb<\/h3>\n<table class=\"left\" style=\"max-width:85%;\">\n<tr>\n<th>Lloji i qiras\u00eb<\/th>\n<th>Karakteristika<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td>T\u00eb ardhurat bruto t\u00eb qiras\u00eb kontrata e qiras\u00eb<\/td>\n<td>Pronari i pron\u00ebs kryen t\u00eb gjitha llogaritjet p\u00ebr sh\u00ebrbimet, shpenzimet p\u00ebr riparimin dhe p\u00ebr funksionimin e nd\u00ebrtes\u00ebs, paguan sigurim, dhe (nganj\u00ebher\u00eb) taksat<\/td>\n<\/tr>\n<tr>\n<td>N qira<br \/>(E vetme neto i qiras\u00eb)<\/td>\n<td>E qiramarr\u00ebsin paguan tatim vet\u00ebm n\u00eb pasuri t\u00eb patundshme, t\u00eb gjitha shpenzimet e tjera n\u00eb ngarkim t\u00eb pronarit<\/td>\n<\/tr>\n<tr>\n<td>NN qira<br \/>(T\u00eb dyfisht\u00eb neto i qiras\u00eb)<\/td>\n<td>Qiramarr\u00ebsi paguan taksa dhe sigurime<\/td>\n<\/tr>\n<tr>\n<td>NNN qira<br \/>(Triple neto i qiras\u00eb)<\/td>\n<td>Pronari akuzat e qiramarr\u00ebsit nj\u00eb tarif\u00eb, &#8220;trefisht\u00eb&#8221;, q\u00eb \u00ebsht\u00eb, pa zbritje t\u00eb tatimit, t\u00eb sigurimit dhe t\u00eb mir\u00ebmbajtjes, (k\u00ebto shpenzime, sipas marr\u00ebveshjes jan\u00eb t\u00eb p\u00ebrballohen nga qiramarr\u00ebsi)<\/td>\n<\/tr>\n<tr>\n<td>Absolute NNN qira<\/td>\n<td>T\u00eb gjitha shpenzimet jan\u00eb n\u00eb ngarkim t\u00eb qiramarr\u00ebsit, edhe n\u00eb qoft\u00eb se nd\u00ebrtesa \u00ebsht\u00eb d\u00ebmtuar gjat\u00eb nj\u00eb fatkeq\u00ebsie natyrore dhe duhet t\u00eb pjesshme rizhvillimit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>P\u00ebr investitor\u00ebt m\u00eb t\u00eb mir\u00eb t\u00eb fundit dy lloje t\u00eb kontratave: sipas mendimit t\u00eb tyre, shpenzimet e mir\u00ebmbajtjes s\u00eb pron\u00ebs nga pronari \u00ebsht\u00eb minimal.<\/p>\n<p>Ju gjithashtu duhet t\u00eb para-p\u00ebrcaktuar koh\u00ebzgjatjen e qiras\u00eb. Kjo n\u00eb mas\u00eb t\u00eb madhe varet nga gatishm\u00ebria e investitor\u00ebve p\u00ebr t\u00eb marr\u00eb rreziqe: p\u00ebr shembull, n\u00eb qoft\u00eb se ai nuk \u00ebsht\u00eb gati p\u00ebr t\u00eb humbur qiramarr\u00ebsit, \u00ebsht\u00eb e mundshme p\u00ebr t\u00eb investuar n\u00eb pron\u00ebn me afat t\u00eb gjat\u00eb qiras\u00eb kontrata. N\u00eb t\u00eb kund\u00ebrt\u00ebn, kur rreziku p\u00ebr investitor \u00ebsht\u00eb e pranueshme, ai do t\u00eb konsideroj\u00eb pron\u00ebn e p\u00ebrshtatshme p\u00ebr nj\u00eb fund t\u00eb shkurt\u00ebr apo afat t\u00eb kontrat\u00ebs s\u00eb qiras\u00eb.<\/p>\n<h2>Yield<\/h2>\n<p>N\u00ebn jepnin mund t\u00eb konsiderohet si absolute vjetore p\u00ebr t\u00eb ardhurat, t\u00eb paras\u00eb, t\u00eb hyrat operative, shkalla e kapitalizimit, rritja e kostos s\u00eb paras\u00eb-n\u00eb para t\u00eb gatshme ROI dhe IRR. \u00cbsht\u00eb e r\u00ebnd\u00ebsishme p\u00ebr t\u00eb kuptuar se \u00e7far\u00eb lloji i jepnin flet shit\u00ebsi. P\u00ebr shembull, si\u00e7 \u00ebsht\u00eb ilustruar me shembullin m\u00eb posht\u00eb, IRR mund t\u00eb arrij\u00eb 9 %, nd\u00ebrsa shkalla e kapitalizimit prej 5.5 %.<\/p>\n<\/p>\n<h3>T\u00eb dh\u00ebnat e mostr\u00ebs<\/h3>\n<table class=\"left\">\n<tbody>\n<tr>\n<th><strong>Vlera e objektit<\/strong>\n<\/th>\n<td>10 milion\u00eb euro<\/td>\n<\/tr>\n<tr>\n<td><strong>Kostoja e blerjes<\/strong><\/td>\n<td>1 milion euro<\/td>\n<\/tr>\n<tr>\n<td><strong>Investimet<\/strong><\/td>\n<td>5 milion euro<\/td>\n<\/tr>\n<tr>\n<td><strong>LTV<\/strong><\/td>\n<td>60 %<\/td>\n<\/tr>\n<tr>\n<td><strong>Interesi n\u00eb kredi<\/strong><\/td>\n<td>2.4 p\u00ebr qind<\/td>\n<\/tr>\n<tr>\n<td><strong>T\u00eb ardhurave nga qiraja<\/strong><\/td>\n<td>650 mij\u00eb euro n\u00eb vit<\/td>\n<\/tr>\n<tr>\n<td><strong>Shpenzimet operative<\/strong><\/td>\n<td>100 mij\u00eb euro n\u00eb vit<\/td>\n<\/tr>\n<tr>\n<td><strong>Koston n\u00eb rritje<\/strong><\/td>\n<td>2% n\u00eb vit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Llojet e yield<\/h3>\n<table class=\"left\" style=\"max-width: 95%;\">\n<tr>\n<th>Lloji i kthimit<\/th>\n<th>P\u00ebrkufizimi dhe metod\u00ebn e llogaritjes<\/th>\n<th>Shembull<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td><strong>Absolute vjetore e kthimit<\/strong><\/td>\n<td>Q\u00eb i jep me qira nj\u00eb pron\u00eb n\u00eb vitin para zbritjes s\u00eb shpenzimeve operative, pagesat p\u00ebr hipotekat dhe taksat<\/td>\n<td>N\u00eb shembullin e objektit t\u00eb vler\u00ebs prej 10 milion\u00eb euro gjeneron absolute vjetore p\u00ebr t\u00eb ardhurat prej $ <strong>650 mij\u00eb euro<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Operative neto fitim<\/strong><\/td>\n<td>Absolute vjetore p\u00ebr t\u00eb ardhurat, minus shpenzimet operative<\/td>\n<td>N\u00ebse e pasurive t\u00eb sjell 650 mij\u00eb euro n\u00eb vit dhe shpenzimet operative shuma deri n\u00eb 100 mij\u00eb euro n\u00eb vit, e operative neto e fitimit \u00ebsht\u00eb e barabart\u00eb me <strong>550 mij\u00eb Euro<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Neto t\u00eb paras\u00eb s\u00eb gatshme<\/strong><\/td>\n<td>E fitimi vjetor duke marr\u00eb parasysh shpenzimet operative dhe hipoteka e pages\u00ebs, me para tatimit<\/td>\n<td>N\u00eb shembullin neto t\u00eb paras\u00eb s\u00eb gatshme, \u00ebsht\u00eb e barabart\u00eb me <strong>300 mij\u00eb Euro<\/strong> n\u00eb vit (650 milion\u00eb euro (t\u00eb ardhurave nga qiraja) &#8211; 100 milion (shpenzimet operative) &#8211; 250 mij\u00eb (hipoteka pagesa))<\/td>\n<\/tr>\n<tr>\n<td><strong>Kapitalizimi shkalla<\/strong><br \/>\n(ppb norm\u00eb)<\/td>\n<td>Raporti i t\u00eb hyrat operative neto n\u00eb vler\u00ebn e objektit<\/td>\n<td>N\u00ebse operative neto fitimi \u00ebsht\u00eb 550 mij\u00eb euro n\u00eb vit, dhe prona n\u00eb vler\u00eb 10 milion\u00eb euro, kapitalizimi shkalla e \u2014 <strong>5,5 %<\/strong> vjetore<\/td>\n<\/tr>\n<tr>\n<td><strong>Koston n\u00eb rritje<\/strong><\/td>\n<td>Tregon se sa p\u00ebrqind n\u00eb vit (parashikimi) do t\u00eb rris\u00eb \u00e7mimin e pron\u00ebs<\/td>\n<td>N\u00eb shembull, vlera e rritjes \u00ebsht\u00eb <strong>2 %<\/strong> n\u00eb vit<\/td>\n<\/tr>\n<tr>\n<td><strong>Cash-n\u00eb para t\u00eb Gatshme ROI<\/strong><br \/>\n(Kthehen n\u00eb Investime, marzhet e fitimit n\u00eb kapitalit t\u00eb investuar)<\/td>\n<td>Kjo shif\u00ebr \u00ebsht\u00eb e barabart\u00eb me vjetore neto e paras\u00eb e ndar\u00eb nga investuar fondet<\/td>\n<td>N\u00eb shembull, cash-n\u00eb para t\u00eb gatshme ROI do t\u00eb jet\u00eb <strong>6 %<\/strong> n\u00eb vit (300 mij\u00eb (neto i paras\u00eb) \/ 5 milion (investimeve))<\/td>\n<\/tr>\n<tr>\n<td><strong>IRR<\/strong><br \/>\n(E brendshme Norma e Kthimit)<\/td>\n<td>Bazuar n\u00eb performanc\u00ebn e gjith\u00eb rrjedha e parave t\u00eb gatshme gjat\u00eb gjith\u00eb periudh\u00ebs s\u00eb projektit<\/td>\n<td>N\u00ebse objekti n\u00eb shembullin e m\u00ebsip\u00ebrm p\u00ebr 10 vjet gjeneron nj\u00eb cash flow e 300 mij\u00eb euro, dhe at\u00ebher\u00eb investitori shet at\u00eb p\u00ebr 12 milion\u00eb Euro, IRR do t\u00eb jet\u00eb <strong>9 % <\/strong>n\u00eb vit<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Rreziqet<\/h2>\n<p>Rrezik \u00ebsht\u00eb mund\u00ebsia e humbjeve si rezultat i ndonj\u00eb ndryshim. M\u00eb shum\u00eb mund\u00ebsi se do t\u00eb ndodh\u00eb ndonj\u00eb ngjarje negative, aq m\u00eb i madh rreziku. N\u00ebse investitori do t\u00eb b\u00ebj\u00eb kthimit t\u00eb m\u00ebdha, ajo duhet t\u00eb jet\u00eb i gatsh\u00ebm t\u00eb pranoj\u00eb rrezik m\u00eb t\u00eb madh. P\u00ebr shembull, n\u00eb \u00e7el\u00ebsin e zyr\u00ebs tregut n\u00eb qend\u00ebr t\u00eb Londr\u00ebs \u2014 k\u00ebrkesa e tejkalon furnizimin, dhe kjo \u00e7on n\u00eb r\u00ebnien e profitabilitetit n\u00eb segmentin (n\u00eb shkall\u00ebn prej rreth 4 %). N\u00eb t\u00eb nj\u00ebjt\u00ebn koh\u00eb, n\u00eb zyr\u00ebn e tregut n\u00eb zonat m\u00eb pak t\u00eb njohura jep investitorit nj\u00eb shum\u00eb m\u00eb t\u00eb madh t\u00eb kthehen (p\u00ebr shembull, n\u00eb Liverpool \u2014 7 %) me pak rrezik t\u00eb rritur.<\/p>\n<h2>Financimi<\/h2>\n<p>N\u00eb disa raste, investitor\u00ebt t\u00eb marrin nj\u00eb kredi p\u00ebr t\u00eb bler\u00eb pron\u00eb komerciale. Ky opsion \u00ebsht\u00eb e dobishme, k\u00ebshtu q\u00eb kredia \u00ebsht\u00eb nj\u00eb lev\u00eb p\u00ebr rritjen e profitabilitetit. Ata q\u00eb kan\u00eb vendosur t\u00eb p\u00ebrdorin financimit t\u00eb Bank\u00ebs, \u00ebsht\u00eb q\u00eb t\u00eb kuptoj se \u00e7far\u00eb kushtesh ju mund t\u00eb presin:<\/p>\n<ul>\n<li>\u00e7far\u00eb \u00ebsht\u00eb madh\u00ebsia e kredis\u00eb, krahasuar me vler\u00ebn e pron\u00ebs (Hua-T\u00eb-Vlera e Raportit, ose LTV);<\/li>\n<li>\u00e7far\u00eb \u00ebsht\u00eb norma e interesit;<\/li>\n<li>\u00e7far\u00eb \u00ebsht\u00eb kredia periudh\u00eb;<\/li>\n<li>\u00e7far\u00eb \u00ebsht\u00eb Komisioni p\u00ebr dh\u00ebnien e kredive.<\/li>\n<\/ul>\n<p>Kur blejn\u00eb pron\u00ebn e investimeve n\u00eb Gjermani, kredimarr\u00ebsi mund t\u00eb presin nj\u00eb kredi prej 60% t\u00eb vler\u00ebs s\u00eb pron\u00ebs n\u00eb 2% n\u00eb vit. Kur ju merrni me qira t\u00eb pron\u00ebs, rendimenti i 6.5% kthimit t\u00eb kapitalit t\u00eb investuar, bazuar n\u00eb kredi mund t\u00eb arrij\u00eb deri n\u00eb 8-10 %.<\/p>\n<p>            <b class=\"citation-author-name\">Georgy Kachmazov<\/b><\/p>\n<p> CEO dhe themelues Tranio<\/p>\n<h2>Menaxhimi<\/h2>\n<p>&#8220;Menaxhim i mir\u00eb \u00ebsht\u00eb e ngjashme me nj\u00eb drek\u00eb t\u00eb shijshme n\u00eb restorant: ushqimi \u00ebsht\u00eb i bukur n\u00eb pamje dhe shije, dhe kamerier\u00eb jan\u00eb t\u00eb dashur dhe t\u00eb dobishme. M\u00eb e r\u00ebnd\u00ebsishmja \u2014 ju nuk keni p\u00ebr t&#8217;u kujdesur&#8221;, shkruan Craig Coppola (Coppola Craig), nd\u00ebrmjet\u00ebsi n\u00eb t\u00eb pasurive t\u00eb patundshme komerciale SHBA.<\/p>\n<p>Sigurisht, pronari mund t\u00eb arrijn\u00eb n\u00eb veten e tyre, por kjo \u00ebsht\u00eb m\u00eb i p\u00ebrshtatsh\u00ebm p\u00ebr t\u00eb pun\u00ebsoj\u00eb nj\u00eb kompani e specializuar n\u00eb real estate menaxhimit si kjo do t\u00eb ndihmoj\u00eb t\u00eb kurseni koh\u00eb p\u00ebr pronarin e objektit.<\/p>\n<h2>Strategji dal\u00ebse dhe p\u00ebr koh\u00ebn e investimeve<\/h2>\n<p>Ekzistojn\u00eb dy strategji dal\u00ebse nga investimet e projektit \u00ebsht\u00eb transferimi nga trash\u00ebgimia dhe shitje.<\/p>\n<ul>\n<li><strong>Transferimi i pron\u00ebs nga trash\u00ebgimia<\/strong>. Me kalimin e viteve, vlera e pron\u00ebs rrit, dhe t\u00eb nj\u00ebjtit objekt mund t\u00eb jet\u00eb n\u00eb pron\u00ebsi t\u00eb familjes p\u00ebr mbi 100 vjet. Prandaj, transaksioni duhet t\u00eb jet\u00eb e strukturuar n\u00eb m\u00ebnyr\u00eb q\u00eb prona mund t\u00eb jet\u00eb e trash\u00ebguar me nj\u00eb minimum humbjet tatimore. P\u00ebr shembull, n\u00eb Franc\u00eb ajo \u00ebsht\u00eb e dobishme p\u00ebr t\u00eb bler\u00eb pron\u00eb civile kompani t\u00eb pasurive t\u00eb patundshme transaksioneve (SCI) \u2014 n\u00eb k\u00ebt\u00eb rast, nuk ka taksa mbi trash\u00ebgimin\u00eb dhe dhurimi.<\/li>\n<li><strong>Shitja<\/strong>. Zakonisht periudha e pron\u00ebsis\u00eb e t\u00eb ardhurave t\u00eb pasuris\u00eb para se t\u00eb rishitjes \u2014 10-20 vjet, por ka situata kur vjet\u00ebrohet duhet t\u00eb t\u00ebrhiqet nga projekti p\u00ebr investime t\u00eb hershme, pra, objekti duhet t\u00eb jet\u00eb e l\u00ebngshme, gjegj\u00ebsisht, t\u00eb tilla q\u00eb mund t\u00eb shitet shpejt e shpejt (2-4 muaj) pa i r\u00ebnd\u00ebsish\u00ebm humbje t\u00eb vler\u00ebs. Kjo \u00ebsht\u00eb arritur n\u00ebp\u00ebrmjet blerjes s\u00eb pasurive t\u00eb patundshme n\u00eb premium vende, ndryshueshm\u00ebri e p\u00ebrdorimit t\u00eb objektit, etj.<\/li>\n<\/ul>\n<h2>P\u00ebrfundim<\/h2>\n<p>Kompetente p\u00ebr vler\u00ebsimin e t\u00eb gjitha artikujve n\u00eb k\u00ebt\u00eb check-list, e b\u00ebr\u00eb para se t\u00eb blerjes s\u00eb pron\u00ebs do t\u00eb ndihmoj\u00eb p\u00ebr t\u00eb mbrojtur real estate investime. K\u00ebshtu ajo \u00ebsht\u00eb e nevojshme p\u00ebr t\u00eb zgjedhur t\u00eb ul\u00ebt t\u00eb rrezikut t\u00eb l\u00ebngshme objekteve t\u00eb q\u00ebndrueshme n\u00eb tregjet dhe jo p\u00ebr t&#8217;i ndjekur kthimit t\u00eb m\u00ebdha.<\/p>\n<p>Yulia Kozhevnikova, &#8220;Tranio&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bler\u00ebsit e pron\u00ebs jasht\u00eb vendit jan\u00eb gjithnj\u00eb e m\u00eb par\u00eb jo vet\u00ebm si streh\u00eb, por edhe si nj\u00eb objekt p\u00ebr<\/p>\n","protected":false},"author":1,"featured_media":468,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128],"tags":[],"class_list":["post-585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-informacione-tatimore-ne-france"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"sq","enabled_languages":["ru","uk","en","de","fr","it","es","pl","pt","bg","cs","da","et","fi","hr","hu","lt","lv","mk","no","ro","sk","sl","sq","sr","tr","nl","am","ca","sv"],"languages":{"ru":{"title":false,"content":false,"excerpt":false},"uk":{"title":false,"content":false,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"it":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"pl":{"title":false,"content":false,"excerpt":false},"pt":{"title":false,"content":false,"excerpt":false},"bg":{"title":false,"content":false,"excerpt":false},"cs":{"title":false,"content":false,"excerpt":false},"da":{"title":false,"content":false,"excerpt":false},"et":{"title":false,"content":false,"excerpt":false},"fi":{"title":false,"content":false,"excerpt":false},"hr":{"title":false,"content":false,"excerpt":false},"hu":{"title":false,"content":false,"excerpt":false},"lt":{"title":false,"content":false,"excerpt":false},"lv":{"title":false,"content":false,"excerpt":false},"mk":{"title":false,"content":false,"excerpt":false},"no":{"title":false,"content":false,"excerpt":false},"ro":{"title":false,"content":false,"excerpt":false},"sk":{"title":false,"content":false,"excerpt":false},"sl":{"title":false,"content":false,"excerpt":false},"sq":{"title":true,"content":true,"excerpt":false},"sr":{"title":false,"content":false,"excerpt":false},"tr":{"title":false,"content":false,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"am":{"title":false,"content":false,"excerpt":false},"ca":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/posts\/585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/comments?post=585"}],"version-history":[{"count":0,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/posts\/585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/media\/468"}],"wp:attachment":[{"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/media?parent=585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/categories?post=585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nalog.fr\/sq\/wp-json\/wp\/v2\/tags?post=585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}