Study On The Application Of Real Estate Investment Trust Funds In Housing Rental Finance

With the continuous development of urbanization,more and more young people choose to work and live in the city,which undoubtedly increases the demand for urban housing.However,China's housing market in the rental and sale structure of a more serious imbalance,for this reason,the 19 th National Congress Report put forward "accelerate the establishment of multi-main supply,multi-channel security,rent-to-buy housing system",in the policy encouraged,although the domestic housing rental market ushered in a major opportunity for comprehensive development,but the housing rental market is still facing long investment recovery period,high financing costs,narrow financing channels and other issues.Real Estate Investment Trust as a new type of financing,not only can break through the traditional financing methods,broaden the financing channels,but also reduce the cost of financing,improve the efficiency of capital operation,is one of the effective means to solve the financing problem of China's housing rental market.This dissertation mainly uses the combination of literature research and case analysis method,takes the REITs issued by Tahoe Group as an example,introduces the background and basic overview of the project issue on the basis of relevant concepts and theories,then analyzes the causes and characteristics of the development of the REITs of Tahoe Musheng,and then analyzes the financing effect of the project from the financial and non-financial perspective,and points out the shortcomings of the project.Finally,it is concluded that REITs can not only help enterprises to invigorate the stock assets and reduce financial leverage,but also play a positive role in the transformation and development of enterprises to a certain extent,and is the booster of the supply-side reform of the housing rental market.On the basis of case studies,this dissertation also puts forward the suggestion that the development of REITs in China should introduce blockchain technology,and points out that the application of emerging technologies will not only conform to the changes of the times,but also bring new development opportunities to REITs in China,and promote the development of the housing rental market.