廉租房REITs的住房公积金方案研究——以安顺市为例

Utilizing the Leave-unused LRHA to Solve the Problem of Low Return Rate of Investment on LRH REITs——Take Anshun City for the Example

廉租房建设存在巨额资金缺口,而廉租房租金微薄,即使加上政府补贴,投资回报率也非常低,对社会资金鲜有吸引力。当前我国住房公积金闲置资金巨大,利用效率极低,如果利用住房公积金闲置资金构建公积金廉租REITs模式,可以在保证住房公积金缴存户状况至少不恶化的前提下,破解当前廉租房建设资金匮乏的困境,使地方政府与低收入家庭状况都可获得帕累托改进。

There is great capital shortage in the construction of low-rent houses.Since the rents of low-rent houses are so slim,even plus the subsidies of governments,the return rate of investment on low-rent housing project would be still very modest,which results in the lack of attractiveness to social capital.On the contrary,there is enormous deposit surplus in LRHA（Legal Reserves of Housing Acquisition） at present,which is used in a very low efficiency.If we can utilize the leave-unused surplus of LRHA to set LRH REITs（Low Rent Housing REITs） to finance the construction of low-rent houses,both government and low-income families can achieve Pareto improvement with the interests of legal reserve subscribers not worsened at least.