基于保障性住房建设的REITs模式构建研究

发布时间：2018-01-18 13:32

本文关键词：基于保障性住房建设的REITs模式构建研究　出处：《辽宁大学》2013年硕士论文　论文类型：学位论文

【摘要】：房地产投资信托基金(Real Estate Investment Trusts)，简称REITs，是按照信托原理设计，通过发行受益凭证，公开或者非公开募集市场上众多投资者的资金，，然后交由专门投资机构进行经营管理，并且将所获得的收益按比例分配给投资者的金融投资工具。二十世纪以来，REITs已经成为全球主要国家和地区房地产金融的重要组成部分和房地产融资的重要手段，REITs在新加坡、美国、香港等地的迅速发展，使其受到越来越广泛的关注。2009年中国确定将北京、上海、天津作为发展REITs的试点城市，各种REITs的方案纷纷出台。从2010年开始，中国加大了对保障性住房的建设投入，在建设过程中出现了资金短缺、融资渠道狭窄等问题，制约了保障性住房的发展。中国保障性住房建设迫切需要寻求新的融资渠道，建立多元化的融资体系。在这样的背景下，保障性住房REITs模式的推出必然可以为保障性住房开辟多元化的融资渠道、分散金融风险，并推动中国整个房地产金融市场的改革和创新。本文共分为五个部分，第一部绪论，介绍本文的研究背景、研究目的及意义、国内外研究现状、研究方法；第二部分对房地产投资信托基金进行一般介绍；第三部分介绍了保障性住房在中国的发展及面临的困境、保障性住房REITs在中国的发展，提出中国发展保障性住房REITs的必要性；第四部分介绍保障性住房REITs模式及构建，在吸收目前两种公租房REITs模式优点的基础上，构建新的保障性住房REITs模式；第五部分提出REITs在保障性住房建设中存在的一些问题，并提出相应建议，对全文进行总结。
[Abstract]:Real estate investment trusts (Real Estate Investment Trusts), referred to as REITs, is designed according to the principle of trust, through the issuance of beneficiary certificates, public or private to raise money from many investors on the market, and then by the specialized investment institutions management, and the income gained by the pro rata to the financial investment tool for investors.
Since twentieth Century, REITs has become an important means of financing the world's major countries and regions is an important part of the real estate finance and real estate, REITs in Singapore, the United States, the rapid development of Hongkong, which attracted more and more attention.2009 Chinese identified Beijing, Shanghai, Tianjin as the pilot city of the development of REITs. Various REITs schemes have been introduced. From the beginning of 2010, China stepped up to protect the investment of housing construction, in the construction process appeared a shortage of funds, financing channels narrow, restricted the development of affordable housing. China affordable housing construction is an urgent need to seek new financing channels, to establish a diversified financing system in this context, the launch of the housing security mode of REITs must be opened up diversified financing channels for affordable housing, decentralized financial risks, and promote the whole China The reform and innovation of the real estate financial market.
This paper is divided into five parts, the first part is introduction, introduces the research background, research purpose and significance, research status, research methods; the second part of the real estate investment trust fund for general introduction; the third part introduces the affordable housing in Chinese development and the dilemma of affordable housing REITs in Chinese development, put forward the development of Chinese indemnificatory housing necessity of REITs; the fourth part introduces the REITs model and the construction of affordable housing, in the absorption of two kinds of public rental housing is based on the advantages of REITs mode, construction of new affordable housing REITs model; the fifth part puts forward some problems existing in the construction of affordable housing in REITs, and puts forward the corresponding suggestions on the summary of the full text.

【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.23

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