Research On The Long-term Rent Apartment REITs

Rented housing is the new industry in the development of the real estate industry in China in recent years,its rise is not the product itself,is essentially a major industry transformation of industry changes is behind the market changes and the transformation of traditional housing concept,also represents leasing is the new way of life.The frequent national policy such as rental housing land supply,perfect tax incentives,financial support to rented housing industry has brought the good development opportunity.To gradually enter the housing rental market,real estate developer groups expanding their business in rented housing or seek cooperation with apartment operator,also has brought major changes in the pattern of the whole industry.This paper will start with the present situation of the housing rental market in our country,Expounds and analyzes the classification of domestic housing rental market and financing mode,the classification and definition of REITs to participate in the main body,using comparative analysis,the comparative analysis of the development of REITs from all over the world.In the long lease REITs issuing phase,The paper uses literature analysis,combined with China's existing laws and regulations,explores the most suitable rent apartment REITs development mode,and tries to combine contract theory to design the private and public offerings of REITs structure.In rent the apartment REITs operation stages,in view of the domestic REITs basis the problem of lower return on assets,this paper mainly seek from the apartment type of real estate development enterprise external growth for corresponding solutions,and uses the empirical analysis to verify the rent apartment REITs structure design and the practicality of external growth method.Then on the basis of the introduced real estate investment trusts(REITs)classification to participate in the definition of the main body,comparing these REITs development course,analyzed the feasibility and necessity of development in our country to rent apartment REITs.Based on REITs in China is still in its infancy,and mainly private model,this paper will be taken from the practice aspect of REITs,to explore suitable apartment industry organization form REITs deal structure capital operation mode,and try to design public offering REITs deal structure.