Under China's new system of investment, decision making of investment tends to be reasonable and scientific. However, the research on the real estate's investment climate, as the basis of decision making, is still unilateral, so it urgently needs to study deeply and systematically. Based on the practical need, the paper discusses the theoretical basis and background of the research. On the basis the paper analyzes factors of real estate's investment climate, then to establish the appraisal method of "multi-index synthetic appraisal of value", which is to provide scientific theory and feasible ways for the research on the real estate's investment climate.