Research On The Financing Channel Of Long-term Apartment In China

With the advancement of urbanization and economic reform,the situation of China's leasing market in short supply is intensifying.Long-term rental apartments have become an inevitable outcome of the rental market in the current situation of conflicts between parties.The influx of capital from all walks of life has made the market in the long-term rental apartment increasingly competitive.At the same time,various risks have also been exposed.With the narrow financing channels,high financing costs and long profit cycle,financing has become a key link in the long-term rental apartment sector.At this time,the development of REITs(Real Estate Investment Trust)and realize financing innovation has become the best way to solve the financing problems of the long-term rental apartment industry.This paper tries to start from the existing problems in the financing of the longterm rental apartment industry in China,summarize the existing financing modes,and draw on the relevant successful experience of REITs to provide practical solutions for the future development of the financing of the long-term rental apartment industry in China.This paper has sorted out the relevant background of the long-term rental apartment industry and REITs.On this basis,the existing financing modes of the longterm rental apartment industry in China are analyzed into five financing modes,and the foreign REITs are introduced,which are summarized into two mature modes,Corporate Type and Contractual Type.In order to explore the practical applicability of the two modes,this paper takes Qingke apartment as the case study object,summarizes the existing financing mode of Qingke apartment,conducts feasibility analysis on the innovation of REITs mode,and designs the specific implementation framework.Finally,in the form of semi-structured interview,accompanied by AHP(Analytic Hierarchy Process),qualitative and quantitative evaluation is made from three aspects: the direct financial value applied by REITs,the indirect strategic value integrated by financing mode,and the limiting factors in the financing mode expansion process,to point and face,put forward relevant countermeasures and Suggestions to the financing of the whole long-term rental apartment industry.This article adopts the method of case analysis,By studying the cases of Qingke apartment,this paper summarizes the current situation of long-term rental apartment financing and demonstrates the feasibility of REITs application,to explores the related experience of localizing the implementation of REITs in China,it provides the experience basis for sorting out the financing channels,expanding the financing channels and promoting the financing innovation of REITs.