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TheAnalysisoftheIssueRelatedtotheFeasibilityofStudytheRealEstateProjectontheBasisoftheImplicitCostAbstract:Itisknownthatthefeasibilitystudyofrealestateprojectplaysanimportantroleinrealestatedevelopment.Nevertheless,therestillremainsmanyproblemsinthefeasibilitystudy.Inthispaper,theconceptofimplicitcostwillbeintroduced,whichwillbeusedtoanalysetheseproblems.Meanwhile,someusefulstrategieswillberaisedfortheseproblems,whichintendstofurtherimprovethefeasibilitystudyoftherealestateprojects.Keywords:realestateproject;feasibilitystudy;implicitcost;problems1.IntroductionThefeasibilitystudyisthedecisionsciencehasbeenusedinprojectarea,andthebasictargetisonthebasisofthecomprehensiveinvestigatingandresearchingtoidentifyaconstructionobjectwhetherhavethecharacteristicsofprogressive,realityandreliableinthewholeprosessfrompreviouslyprojectconstructiontolineoperation.Wealsoneedtoknowthosewhethercanpayofffromthefinanceandthecredibilityintheeconomytogiveabighelpfortheinvestatingdecisions.Itisrealrolethataframeworktoinvestingproject,andisthekeyfactorsthatcandecidetheprojectcanbeinvestedornottogivesomesupportsontheprojectdecisions.Therealestateischaracteristicofaccountingforhugefinancing,alongperiodrelativetotheinvestingandeasilyinfluencedbytheinstablefactors.Therefore,thethefeasibilitystudyisveryimportantfortherealestate.However,currentlywearemoreandmorefocusingontheexplicitcostinthefeasibilitystudyandignoringtheintangiblecost.Theintangiblecostis,asopposedtoexplicitcostandhidedamongthetotalcostofenterprise,causedbythedecisionmakercharacterizedbylowerdiathesis,wrongconcept,andthedeficiencyofinformations,coupledwiththenon-marketfactorstoleadtothetotalcostincreaseingdirectlyorindirectly.Theamountofeconomicbenefitsoftheprojectlargelydependongettingfullknowledgeoftheintangiblecostintherealestate.2.TheExistenceoftheQuestionsLiedintheFeasibilityStudyontheBasisoftheIntangibleCostRecently,therealestatehavegotabigimprovementinthefeasibilitystudy.Asthemaincontentsandmethods,ithavebeennormedandstabilizedgraduallytouseintheprojectdecisions.Butthatisfactthatthefeasibilitystudycannotplaytheroleabovementionedintherealcase.Theworstcaseisthatthereisnothefeasibilitystudybeforestartingthework.Andanothereventsisthatthefeasibilitystudyhadbeendone,buttheresultwasnotfittotherequestions.Themainproblemsarefollowing:2.1.TheInvestorwithLowDiathesisDidNotPayMoreAttentionsonitUntilnow,anumberoftheinvestorsdidnotgetaclearclueandrealizetheimportantancerelatedtothefeasibilitystudy.Theyhadmadeadecisionwhetherbuildingtherealestatereliedontheirownwish,andreckonedthefeasibilitystudywasjusta“payablepaper”tosubmittolendinginstitution,investorandgovernment.Thereisnomeaninginthefeasibilitystudybecauseofcarryingonisnotthorough,focusingontheformat.Therefore,the“feasibilitystudy”istheaimthathowtogetapermissionfromtherelateddepartmentandaloanfromthebank,sothedatacannotbeusedtoreflecttherealconditions.Theeconomicbenefitsofthewholerealestateprojecthavedecreased,evenfailedthatwasmainlyascribedtotheinvetor’sattitude,ignoringtheimportanceoffeasibilitystudy.Thosearecalledtheintangiblecost.Theotherfactorsislinkedcloselywithcalibrethataexcellentdecisionmakershouldbecharacterizedbydetermination,confidence,far-sighted.ect.Whenafavoriteinvestingprojectlieinfrontofainvestor,hemustbeconfidenceanddeterminationtomakeadecisionassoonaspossible,ortheproblemsrelativetotheeconomicbenefits′lostwouldbehappenedtocreatetheintangiblecost.Moreover,theinvestorshouldhavethecharactersoffar-sightedtoconsidertheinvestingprocess,andnotcarethe“gainandloss”inasmalleventstomakeawrongdecision.Itisobviouslythatthehigh-calibreisanveryimportantfactortotheinvestortoavoidtheintangiblecost.2.2.TheFeasibilityStudyRelatedtotheConstructionProjectisMainlyCompletedbytheConsultantAgencyandDesignDtheDeviserHasLow-CalibreDepartmentofconstructionentrustedbyinvestor.Itispossiblethattheaccuracylargelydependonthoseinstitutions′levelcontrolledbythedeviser’scalibre.Unfortunately,ahugenumberofdevisersarelackingoftheattitudeonseektruthfromfacts.Theyhavepartiallyusedthedatatooptimisticallyevaluatethemarketpricemovement.Theyalsodidnotexploitthemarketsurveyindetailstopredictthemarketprospect;atthesametime,theydidnotcareaboutsomefaults,however,morelightsshedinexaggerateingtheadvantagesoftechnologyandproductthatreducingthesuccessrateofinvesting.Onthebasisofthedevisershavinglow-calibre,thefeasibilitystudycannotbecompletedbycourseofcorrectwayandcanonicalprocessthatthedecisionmakergotawrongjudgementtoresultinlostingtheeconomicbenefits,eventhewholeproject’sdepleting.2.3.TheAnalysisandForecastingoftheMarketisnotEnoughTheearningpowerofinvestingprojectisnotonlydependingontheallkindsofavailableresources,butalsorelyingonthecurrentandpotentialrequestsneededbysociety.Currently,therearenomoreattenionsconcentratedonthemarketsurveyandforecastinginthefeasibilitystudy.Alargenumbersofdatacamefromtherelatedresearchers’experienceandsocialrelations.Eventhoughtheydidasurveyandforecastedthemarkettrend,theresultsaremorequalitativeanalysisthanquantitative.The