Research On The Incentive Policies For Public Rental Housing Project To Introducing Social Capital

Public rental housing has become an important part of nation’s housing guarantee system, and accelerating the construction of public rental housing is the key point of the housing guarantee work in twelfth five-year plan, which will play a significant role in dealing with the housing problem of the low and the middle incomes families, so as to promote the harmony of the society. The key to achievement this goal is to solve the problem of fund raising. But now the government is under the financial stress facing the burst of public rental housing projects. So some scholars suggested that use the BOT mode of infrastructure for inference, adding social capital to the construction of public rental housing projects.The economic benefit of which, however, is the focus. Therefore, to bring in the social capital, the government have to introduce the incentive policy effectively for investors to guarantee the win-win situation for both government and investors in the corporation.This thesis analyzes the public rental housing incentive policies with BOT mode thoroughly and systematically, basing on the economic behavior of government and social capital in BOT mode with the project classification theory, the motivation theory and the investment decision theory, and considering the situation of nation’s construction of public rental housing together with the economic and legal condition.Firstly, this thesis analyzes the current situation and problem of nation’sconstruction of public rental housing, and states the necessity and feasibility of bringing in the social capital. Meanwhile, it analyzes the difficulties of it qualitatively,and designs the operation pattern in BOT mode. Secondly, the thesis analyzes the factors of the cost and benefit of the project of public rental housing, and builds the investment income model from the social capital perspective. Then through the empirical analysis, the thesis also proves that social capital is not likely to be brought in the project based on the opportunity cost and related risks. Thirdly, the thesis analyzes the calculation mode, the incentive mechanism and the effect of the composite design of some related incentive policy which includes the land price concession, fiscal subsidy, accessories business, financial support, extension of concession period by demonstration. And it turns out that the social capital can realize the expected gains with the incentive policies. In the last part of the thesis, the practical policy suggestion on making detailed rules on incentive policy, to introduce the social capital into the public rental housing project in BOT mode is offered for reference.