中文：

资本化率是指投资者将未来收益转化为资本所使用的利率。简单来说，它就是投资者决定将钱投入何种资产的一个关键参数。

在房地产领域，资本化率通常被用来评估房地产的价值。它反映了投资者的预期收益率，是投资者在决定购买或出售房地产时的重要参考依据。

资本化率的计算方法通常是将房地产的年净收益除以房地产的价格。这个比率可以用来评估房地产的投资价值，也可以用来比较不同房地产的投资价值。

资本化率的高低取决于多种因素，包括房地产市场的供求关系、投资者对未来收益的预期、房地产市场的风险等。因此，资本化率是一个动态的概念，它会随着市场环境的变化而变化。

英文：

Capitalization rate refers to the interest rate used by investors to convert future收益into capital. Simply speaking, it is a key parameter for investors to decide which asset to invest in.

In the real estate field, the capitalization rate is usually used to evaluate the value of real estate. It reflects the expected yield of investors and is an important reference for investors when deciding to buy or sell real estate.

The calculation method of capitalization rate is usually to divide the annual net income of real estate by the price of real estate. This ratio can be used to evaluate the investment value of real estate, as well as to compare the investment value of different real estate.

The level of capitalization rate depends on many factors, including the supply and demand in the real estate market, investors' expectations of future returns, and risks in the real estate market. Therefore, the capitalization rate is a dynamic concept and will change with changes in market conditions.