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，就是投资者希望通过投资获得的收益比率。资本化率是房地产金融领域中的一个重要指标，它反映了投资者将未来的租金收入、房产增值等收益转化为资本的能力。

资本化率的计算方法通常是将房地产的未来收益除以房地产的总价值。例如，如果一套公寓的月租金为5000元，且预计未来每年的租金增长率为5%，那么该公寓的资本化率可以通过以下公式计算：资本化率 = (5% + 当前的租金收益率) / (1 + 5%)。其中，当前的租金收益率可以根据市场情况和该地区的租金水平进行估算。

资本化率是房地产投资决策的重要参考指标之一。通过比较不同房地产项目的资本化率，投资者可以评估各个项目的投资价值和潜在收益。同时，资本化率还可以用于评估房地产市场的整体投资环境和风险水平。

英文：

The capitalization rate refers to the interest rate used by investors to convert future收益into capital. In other words, it is the rate of return that investors hope to obtain through their investment. The capitalization rate is a crucial indicator in the field of real estate finance, reflecting the ability of investors to transform future income such as rental income and property appreciation into capital.

The calculation method of the capitalization rate usually involves dividing the future income of real estate by the total value of the real estate. For example, if the monthly rent of an apartment is 5000 yuan, and it is expected that the annual rental growth rate in the future will be 5%, then the capitalization rate of the apartment can be calculated using the following formula: Capitalization rate = (5% + current rental yield) / (1 + 5%). Among them, the current rental yield can be estimated based on market conditions and rental levels in the region.

The capitalization rate is an important reference indicator for real estate investment decisions. By comparing the capitalization rates of different real estate projects, investors can evaluate the investment value and potential returns of each project. In addition, the capitalization rate can also be used to assess the overall investment environment and risk level of the real estate market.