中文：

资本化率是指将未来无限期预期收益折算成现值的比率，它反映了投资者投资该项目的预期收益率。简单来说，资本化率就是用来衡量一个项目是否值得投资的重要指标。

资本化率的计算通常采用现金流量折现法，即将未来的现金流折算成现值，然后根据这个现值和现在的投资额来计算资本化率。资本化率的值越高，说明投资者对这个项目的未来收益越有信心，因此也愿意承担更高的风险。

在房地产领域，资本化率通常被用来评估房地产的价值。资本化率的计算公式为：资本化率 = （净收益/价值）× 100%。其中，净收益是指房地产的租金减去运营成本和相关税费后的余额，价值则是指房地产的市场价值。通过这个公式，投资者可以评估出房地产的实际价值是否与市场价格相符。

英文：

Capitalization rate refers to the ratio of converting future无限期 expected收益 into present value. It reflects the expected return on investment for investors in the project. In simple terms, the capitalization rate is an important indicator to measure whether a project is worth investing.

The calculation of capitalization rate usually uses the discounted cash flow method, which converts future cash flows into present value and calculates the capitalization rate based on this present value and the current investment amount. The higher the value of the capitalization rate, the more confident investors are in the future收益of the project, so they are willing to take higher risks.

In the field of real estate, the capitalization rate is usually used to evaluate the value of real estate. The calculation formula for the capitalization rate is: capitalization rate = (net income / value) × 100%. Among them, net income refers to the balance of rent from real estate minus operating costs and relevant taxes and fees, while value refers to the market value of real estate. Through this formula, investors can evaluate whether the actual value of real estate matches the market price.