ANÁLISE DAS VARIÁVEIS QUE INFLUENCIAM NA RENTABILIDADE DE EMPREENDIMENTOS RESIDENCIAIS: ESTUDO DE CASO

VII Seminário Internacional da LARES
25 – 26 de outubro de 2007, São Paulo, Brasil

ANALYSIS OF THE VARIABLES THAT INFLUENCE IN THE
PROFITABILITY OF RESIDENTIAL ENTERPRISES: STUDY OF CASE
ANÁLISE DAS VARIÁVEIS QUE INFLUENCIAM NA RENTABILIDADE
DE EMPREENDIMENTOS RESIDENCIAIS: ESTUDO DE CASO
Oliveira, Ricardo 1, Belchior, Marcelo 2, Jungles, Antonio3
1

UFSC- Universidade Federal de Santa Catarina (Doutorando), [e-mail]
UFSC – Universidade Federal de Santa Catarina (Mestrando), [e-mail]
3
UFSC- Universidade Federal de Santa Catarina (Professor Titular – Dr..), [e-mail]
2

Palavras-chave: rentabilidade, empreendimento imobiliários residencial, viabilidade, taxa interna de retorno. ABSTRACT
The evaluation of the profitability of residential property enterprises (RPE) is an important tool in decision taking regarding their economic-financial viability. This study discusses this subject, through a four-variable analysis (selling price, selling time, building costs and construction schedule) and the influence of these variables on the profitability of a RPE, with the aim of formalizing the monitoring of these variables. The method used was divided into three stages: the first was the analysis of the economic viability of a RPE/case study, the second the formulation of scenarios, and the third the analysis of the sensitivity of the variables in relation to the minimum profitability expected. It was obtained as a result, besides the development and presentation of a method for the analysis of the profitability of a RPE, the verification of the intensity with which the internal rate of return was affected by the study variables. It is highlighted, in conclusion, the importance of the use of a method which contributes to the monitoring of the profitability during the selling and construction period and a knowledge of which variables have a greater influence on the internal rate of return.

RESUMO
A