REITs在长租公寓中的应用研究——以新派公寓为例.DOCVIP

REITs在长租公寓中的应用研究——以 新派公寓为例 鯉赛 郑州大学 近年来，长租公寓纷纷崛起，为房地产领域带来丫革命性的创新，但在实际运 行中，融资难题日益A显。国内企业开始尝试运用REITs解决融资问题，为长租 公寓资金供应及周转提供新思路。新派公寓以及保利的两单类REITs项H相继落 地，将国内长租公寓REITs向前推动了一大步。在对新派公寓REITs上市情况及 交易结构进行概括性介绍的基础上，以新派公寓权益型房托资产支持专项计划 为例，对REITs应用于长租公寓进行可行性分析，并建议国家从快出台REITs 相关法律法规，落实税收优惠减免政策，强化REITs信用评级和信用增级措施 等，为更多REITs项目的成功推行创造良好的政策和市场环境。 关键词： 长租公寓;REITs;可行性;融资; 研宄方向：土地资源管理（房地产经营管理方向）。 研究方向：土地资源管理（房地产经营管理方向）。 The Application Research of REITs in Long-rented Apartment Taking China Young Professionals Apartment as an example MENG Rui-qi LIU Ya—sai Zhengzhou University; Abstract： Tn recent years, long-rented apartments have risen in succession, bringing revolutionary innovation to the real estate field. However, in actual operation, the financing problems are becoming increasingly prominent. Domestic enterprises have begun to try to use REITs to solve the financing problems, and provide new ideas for the supply and turnover of longrented apartments. The double guarantee slip RETTs of China Young Professionals Apartment (CYPA) and Paoli have successively landed, pushing the domestic long-rented apartment REITs a big step forward. Based on the general introduction of the listed and the trade structure of CYPA REITs, taking the asset-backed special plan of the new apartment of equity-based real estate support as example, the feasibility analysis of the application of REITs in the long-rented apartments can be conducted. And it is suggested that the state REITs related laws and regulations come into being as soon as possible, with the implementation of tax preferential policy, strengthening REITs credit rating and credit enhancement measures, thus to create a favorable policy and market environment for the successful implementation of REITs project. Keyword： long-rented apartments; REITs; feasibility; financing; 一、引言 近几年，长租公寓市场愈发火热，为我国的房地产领域带来了极大的创新。探宂 其原因：首先，一二线城市房价居高不下、流动性人口增长创造了旺盛的住房租 赁需求，公寓出租行业生机勃勃。其次，稳定性差、住房体验差、虚假信息、物 业管理差等传统民间租房痛点进一步助推了长租公寓的发展。在业主需求多元化 和多种经营方式涌现的背景下，长租公寓运营商积极拓展服务