Research On Project Finance Models In Medium And Small-sized Real Estate Projects

Small and medium-sized real estate project is an indispensable part of the real estate market and its share is gradually increasing with the development of urbanization. Due to limited profitability and social influence, a large number of small and medium-sized real estate projects are developed by small and medium-sized real estate enterprises whose ability and credit level is low. With the strength of national macro-control and implement of differentiated credit policy of banks, the small and medium-sized real estate projects encountered the unprecedented financial predicament. Small and medium-sized real estate development enterprises are forced to adjust the capital structure, and actively seek new financing channels.Based on the research objects of various project financing modes, this paper explores the application of various project financing modes in the real estate projects, aiming to find the mode of project financing for small and medium-sized real estate projects. First, this paper found that small and medium-sized real estate projects have a great disadvantage in the traditional financing mode and have great difficulty in financing, through the investigation and analysis of the current real estate market with the project financing. SWOT analysis, AHP and other related theories and analysis methods. Second, this paper found that the small and medium-sized real estate projects of our country have many problems, through the investigation and analysis of the status quo of domestic and foreign real estate project financing, and studied the financing advantages, disadvantages, opportunities, and threats of the small and medium-sized real estate projects by using project financing modes. Finally, typical project financing modes are summed up and its application in real estate projects are studied; the advantages and disadvantages of various project financing modes used in real estate projects are compared; the three kinds of project financing modes suitable for the small and medium-sized real estate projects are analyzed by AHP. At the end of the paper, successful cases of project financing mode used in the small and medium-sized real estate projects are listed.The conclusion of this paper is:small and medium-sized real estate projects have traditional difficulties in financing and three suitable project financing modes are based on facilities employment agreement, production payment and sale-leaseback respectively, and the second project financing mode is more suitable for small and medium-sized real estate projects.