PROBLEM TO BE SOLVED : To provide : a simulation device for real estate investment capable of determining the best investment condition in a short period of time without expertise by simulating investment effect by owning a real estate and investment effect by selling the real estate; a simulation method for real estate investment; and a computer program capable of executing the method.SOLUTION : Settings of a plurality of first input values necessary for calculating investment efficiency when owning real estate and a plurality of second input values necessary for calculating the investment efficiency when selling real estate are accepted. Evaluation values for a plurality of first items are calculated for every elapsed number of year based on the first input value and evaluation values for a plurality of second items are calculated for every elapsed number of year based on the second input value. Comparison values are obtained for respective items by multiplying the evaluation values by a coefficient indicating the degree of their importance, and messages corresponding to some or all of the items are outputted in the order of smaller calculated comparison values.COPYRIGHT : (C)2015, JPO&INPIT