久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Investors embrace Chinese REITs

By WU YIYAO in Shanghai | China Daily | Updated: 2017-05-22 07:58
Share
Share - WeChat

A representative of a real estate developer in Suzhou promotes an upcoming project to prospective buyers at a shopping mall, where a model of the property was kept on display at an industry event. WANG JIANKANG / FOR CHINA DAILY

Real estate investment trusts or REITs are becoming popular in China.

Analysts said in China, as more investors increasingly eye long-term income instead of quick money from the real estate market, demand for REITs is expected to grow fast.

REITS are a channel to securitize property assets and generate stable and steady yields for investors, they said.

REITs enable small investors to participate in, and earn income from, large-size investments in real estate projects such as a shopping malls and hotels, which are managed by professionals.

REITs help lower retail investors' threshold of investing in properties and offer better liquidity as they can trade their holdings in a property much more easily than trading a property itself.

For project owners and operators, REITs help raise funds from the capital market.

For example, in 2015, Shenzhen-based Vanke launched an investment product that was managed by Penghua Fund Management and listed on the Shenzhen Stock Exchange. Minimum investment size was about 100,000 yuan at the time, and the project was a fully let office park.

Stephanie Zhao, a 36-year-old investor in Shenzhen, said she has been tracking REITs-related news, including product launches, since early 2015. So far, she has invested 4 million yuan in two REITs-backed projects.

"In Shenzhen, with the money I had access to, I could barely buy a decent apartment in central area, due to high prices and purchase limits. But REITs-backed products offer me long-term yields, help diversify my portfolio, and I can sell my holdings easily," she said.

"Strictly speaking, this REIT differs from many other REITs in mature markets such as Hong Kong, Singapore and the United States in terms of the portion of real estate assets in the investment portfolio, ownership of the property and dividends from rental yields ... Chinese investors and developers are embracing REITs as a channel for real estate investment," said a research note from DTZ.

In the US, a REIT must have more than 75 percent of assets related to properties or mortgage, and more than 75 percent of its income must be from rent or mortgage interest.

That's not all. More than 90 percent of taxable net income must be distributed as dividends, and investors must exceed 100. Five or fewer investors cannot hold a combined size of more than 50 percent of shares.

Enterprises are also playing an active role in the global REITs market. Many REITs listed in Singapore and Hong Kong own properties on the Chinese mainland, 69 of which have been included in 15 REITs listed in Hong Kong and Singapore by the end of 2016, according to DTZ research.

According to Hu Jianmin, valuation expert with Savills North China operations, China's REITs market needs further infrastructure development. A clear definition of REIT and relevant regulations to cover aspects like project quality, valuation and screening for investors are needed.

"Currently, retail investors are not fully engaged in REITs-like products. If these details are made clear in the near future, the REITs market in China could be significant," said Hu.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产精品香蕉一区二区三区 | 日本国产精品 | 亚洲综合爱久久影院 | 天空在线观看免费完整 | 国产精品99久久久久久小说 | 久久99久久精品久久久久久 | 亚洲一区二区三区在线播放 | 97精品久久久久中文字幕 | 久久综合中文字幕一区二区 | 国产美女在线精品观看 | 91原创视频在线观看 | 亚洲国产夜色在线观看 | 国产美女在线一区二区三区 | 久久草网站| 久久国产精品视频一区 | 五月天激激婷婷大综合蜜芽 | 久久精品国产在爱久久 | 日韩一级欧美一级 | 亚洲精品久久99久久 | a级网站在线观看 | 18年大片免费在线观看 | 久久亚洲天堂 | 最新亚洲精品国自产在线 | 欧美亚洲日本一区二区三区浪人 | 国产日韩欧美一区 | 日韩久久精品 | 国产三级日本三级美三级 | 日韩免费观看一级毛片看看 | 亚洲一区在线视频观看 | 日韩免费一级毛片欧美一级日韩片 | 日韩精品视频一区二区三区 | 久久一区二区三区不卡 | 国产成人欧美视频在线 | 日韩一级欧美一级毛片在线 | 美女视频黄的免费视频网页 | 婷婷的久久五月综合先锋影音 | 在线男人的天堂 | 亚洲黄色片网站 | 69凹凸国产成人精品视频 | 国产愉拍精品手机 | a级毛片免费观看视频 |