The Financing Mode Research For Rental Low-income Housing

In order to fundamentally solve China’s rental low-income housing’s financing dilemma,to realize the sustainable supply of rental low-income housing, to ensure middle and lowincome groups in cities and towns, migrant workers and other vulnerable groups to have ahouse to live. This paper has a exploratory research on the rental low-income housing s’ BRTfinancing mode. Firstly, based on the explanation of the tax credit, REITs, BOT three kinds offinancing mode, explain rental low-income housing s’ BRT financing mode in detail.Secondly, summarize our country’s rental low-income housing s’ current4major financingchannel, including governments’ special financial support, net proceeds of land transferaccording to the proportion of funds, Housing fund value-added benefits according to theproportion of funding, local government financing platform for the construction. However,Since the revenue-sharing’s establishment, the fiscal power and administrative authorities’ unreasonable distribution between central and local governments, the serious debt problemsfaced by local governments, all making the governments’ special financial support to therental low-income housing out of reach. Rental low-income housings’ free land allocationmakes local government lose their land transfer profits, as a result, local governments’ supportto the rental low-income housing is not high enthusiasm. Because the housing fundvalue-added benefits is not stable and not much, It can’t be used to support the rentallow-income housing construction for a long time. The local government financing platforms’debt amount is huge, it will be very hard for them to develop, so they can’t be relied on. Drawa conclusion, it is the only choice to rely on the BRT financing mode attracting social capitalto invest in the rental low-income housings’ construction. Thirdly, combine empirical researchand quantitative study methods, use the specific public rental housing project located inYizhuang Beijing to explain in detail the rental low-income housing s’ BRT financing mode’scalculating process, the result shows that BRT financing mode raises49.12%constructionfunds for the public rental project REITs developers, the effect is very significant. Fourthly,from government, REITs developers, the tax credit purchasers’ aspects, analyze the feasibilityof the rental low-income housing s’ BRT financing mode in detail. Lastly, In order to ensurethe smooth promotion of the BRT financing mode, this paper put forward that, define therental low-income housing s’ BRT financing mode’s housing construction managementsystem, land management system, tax management systems’ responsibilities clearly, andestablish the rental low-income housing s’ BRT financing mode’s law system.