房价、“以房养老”及租赁住房REITs

Housing Price,“House for Retirement” and Rental Housing REITs

本文从中国老龄化现状出发,分析了房价、利率等因素的不确定性对以房养老出资的金融机构的影响,以“幸福房来宝”以房养老险为典型例子,分析以房养老险现阶段发育不完全的原因和解决方法。在最后一部分解释了我国发展养老REITs的必要性,以及提出了将“以房养老”和租赁住房REITs结合在一起的模式。在该模式下,老年人可以选择用房产交换住进养老地产,或购买REITs计划中的次级份额,解决以房养老险风险,实现个人晚年生活质量提高。与此同时,这一“腾笼换鸟”的方案让挤进一线城市的年轻人有了一席之地,在为租房市场注入了流动性的同时从宏观上调整了城市的人口结构。

Starting from the current situation of Aging in China,this paper analyzes the impact of uncertainties in housing prices,interest rates and other factors on financial institutions.Taking the“Happy house”housing endowment insurance as a typical example,this paper analyzes the reasons and solutions for the incomplete development of housing endowment insurance at the present stage.In the last part,the necessity of old-age REITs in China is explained,and the mode of combining“house-for-pension”and rental housing REITs is proposed.In this mode,the elderly can choose to exchange real estate for pension real estate,or buy secondary shares in REITs plan,so as to solve the risk of housing pension insurance,and realize the improvement of personal life quality in their later years.At the same time,the plan to“move out of a cage for a bird”has given a place to young people who have crowded into first-tier cities,injecting liquidity into the rental market and macro-adjusting the city’s demographic structure.