Research On Asset Securitization In Real Estate Leasing Market

At present,there are 20 billion square meters of housing stock in China,but the turnover rate is only about 3%.When the housing price is rising rapidly,how to promote the circulation of these housing stock through various means,to stabilize the housing price,so that the house is not used for speculation but for living is an urgent problem to be solved in China.In order to meet the rigid demand of residential housing and vitalize the real estate stock,the reform of asset structure in the real estate market is extremely urgent,and the policy of "simultaneous rent and purchase" is imperative.In recent years,Real Estate leasing market has developed rapidly,from a certain extent,have played an important role in asset bubbles,promoting circulation,and the rapid development of the Real Estate leasing market also stimulates the demand of asset securitization,Real Estate Investment trust(Real Estate Investment Trusts,hereinafter referred to as the REITs)as an emerging asset securitization financial tools conveniently.REITs meet the investment needs of small and medium-sized investors for large-scale asset allocation,and their sound and rapid development is also promoted by perfect laws and regulations,preferential tax collection policies and mature intermediary institutions.The first chapter of this paper starts with the current national conditions of China,the international situation and the background of The Times,and points out that the emergence of REITs is the general trend of the current society.The second chapter firstly summarizes the research conclusions of domestic and foreign literature on REITs development status,benefits and influencing factors of REITs,risks and prevention and control,and summarizes the existing problems in China,and on this basis explores the development mode of REITs suitable for China.The third chapter first introduces the mode classification and operation mode of REITs,then analyzes the internal and external factors that influence the benefits and risks of REITs,and then details the research design and model construction,laying a theoretical foundation for the following empirical analysis.The fourth chapter USES mainland REITs,Hong Kong REITs and mainland general funds to carry out var-garch model test.The fifth chapter,based on the empirical test results,provides reference for the development of China's REITs and helps develop suitable REITs development models with Chinese characteristics.Commercial real estate in our country need to inventory and just need to double under the weight of housing,promote the development of real estate rental market has become a magic weapon to improve the real estate market supply and demand imbalances and weapons,REITs as a kind of real estate lease ABS financing products,is currently emerging things,is also the trend of The Times,more of a real estate rental market a major innovation.Although China's REITs started relatively late,they have now entered the fast track of development,and the Chinese REITs market is facing huge development opportunities.Opportunities and challenges coexist,and any financial innovation cannot be separated from the courage to be the first and the in-depth and systematic research support.In addition,it also needs the sound and perfect system guarantee and the professional and mature institution operation escort.