Research On REITs Financing Mode Of Middle And High-End Rental Housing In Xiong’an New Area

In order to promote the coordinated development between Beijing,Tianjin and Hebei,the State established Xiongan New Area in Hebei Province.The new district is positioned to ease Beijing’s non-capital function and innovation development demonstration zone.And the new district also takes on the mission of building a green,modern,intelligent,ecological and livable city.The orientation of the new district and the mission entrusted by the state make the housing supply of the new district very innovative,where the housing in Xiongan New District will be rent-based.According to the blueprint of the development plan of the new area,the new district will gather a large number of middle and high income people in the future.Therefore,the middle and high-end housing will be the main housing supply in the new district.Based on this background,this paper studies the financing mode of REITS for middle and high-grade rental housing in Xiongan New Area,that aiming to provide a feasible and sustainable financing way for the construction of middle and high-grade rental housing in the new area.On the one hand,it broadens financing channels for housing construction in Xiongan New Area,on the other hand,it also provides reference for the financing of rental housing in China.REITS financing can provide financial support for rental housing.REITS is a trust investment fund,which is essentially a contractual relationship between the issuer and the investor.REITS collects the proceeds of the investor’s funds through the issuance of income certificates,and the real estate investment management and management by specialized investment institutions can not only raise funds for real estate construction,but also lower the investment threshold in the real estate sector and provide investors with new investment channels.The steady and steady cash flow of rental housing also meets the preconditions for REITS financing needs.Judging from the characteristics and advantages of REITS,its financing method can well solve the problems of large demand for rental housing construction funds,poor liquidity of rental housing,and slow construction capital turnover.Based on the analysis of the planning requirements,policy orientation,functional orientation,future key development industries and population composition of Xiong’an New District,this paper considers that the introduction of REITS financing mode in the high-end rental housing in Xiong’an New District is necessary and feasible.The structure of the article is as follows:This article contains five chapters:The first chapter is the introduction,which contains the research background,research purpose,research significance,literature review at home and abroad,research ideas and methods,innovation points and deficiencies in this paper.The second chapter is related concepts and theoretical foundations.It mainly expounds several important concepts of REITS financing model and the theoretical basis of introducing social capital into rental housing.According to the planning outline of Xiong’an New District,and the relevant policies and blueprint for the future development of the new district,the third chapter analyzes the inevitable trend of social capital introduction in the new district housing construction and the feasibility advantages of REITs financing.The fourth chapter is the specific operational plan for designing the REITs financing model.Based on the analysis of the REITs financing model introduced in the new district housing,the participants,the basic organizational framework and the specific operation modes of the REITs financing model,including the establishment mode,the issuance mode and the exit mode,were specifically designed,and the REITs financing was analyzed.Profit model and income distribution mechanism.The fifth chapter is to ensure the successful operation of REITS,and to make suggestions from strengthening cooperation among various departments,improving laws and regulations,increasing the cultivation of REITS professionals,improving the taxation system,and standardizing information disclosure mechanisms.