作　　者： ;

机构地区： 华南理工大学经济与贸易学院

出　　处： 《商业经济》 2011年第8期85-88,共4页

摘　　要： 为了严格控制房价过快上涨,国家相继出台了一系列的房地产调控政策,房地产企业普遍感到资金链越来越紧。在新形势下,房地产开发企业的出路在于向商业地产转型。应采取向保障性住房建设、商业地产、旅游地产等领域投资的策略。在融资方面,必须改变长期以来单纯依靠银行贷款的筹资模式,走多元化融资道路。通过资产证券化,发展房地产投资信托基金(REITs)则是当前可优先选择的模式。REITs可以拓宽房企的融资渠道和广大投资者的投资渠道,有利于促进房地产开发企业向商业地产转型。政府应尽快明确REITs的合法地位;加快培育优质商业资源;公开市场交易,促进多元化投资主体的形成。 In order to control the excessive rise of housing price,the government issues a series of control policy on real estate,accordingly the real estate enterprises at large find their capital chain tighter.In the new situation,the enterprises need change their business to commercial real estate,i.e.steering their investment into construction of affordable housing,commercial real estate,and tourism real estate.In financing aspect,they need change the single financing pattern of relying bank loan merely to the way of diversified financing,and developing REITs is a preferred mode by asset securitization.REITs will expand the financing channels of real estate enterprises and the investors＇ investment channels,which can promote the change of real estate development enterprises to commercial real estate.The government should define the legal position of REITs as soon as possible,quicken the development of high-quality business resources,and open market transaction to promote investors＇ diversity.

关 键 词： 商业地产 发展模式转型 房地产信托基金 投资融资

领　　域： [经济管理]