公租房BRT开发模式研究——以北京市为例  

BRT developing mode research on public rental housing: a case study of Beijing City

作　　者：何佰洲[1] 张磊[1] 

机构地区：[1]北京建筑工程学院经济与管理工程学院

出　　处：《城市问题》2013年第11期42-47,共6页Urban Problems

基　　金：住房和城乡建设部项目(建房改2012-18)--住有所居的实现路径研究

摘　　要：为缓解地方政府财政负担,实现公租房可持续性供应,将BOT、REITs、税收抵免三种模式融合,提出公租房BRT开发模式,以吸引社会资本投资。首先,以保证REITs开发商及税收抵免投资者年利润6.55%为前提,运用工程经济学知识,对北京某公租房项目进行了实证分析,结果表明,BRT开发模式可为REITs开发商融得49.12%的建设资金,缓解政府15.98%的财政压力,而且10年间政府可以用每年0.51亿元的税收抵免撬动起7.41亿元的当期投资;公租房BRT开发模式优点显著。其次,从政府、REITs及税收抵免投资者三方视角出发,论述了我国推行公租房BRT开发模式的可行性。In order to alleviate local governments＇ fi- nancial burden to realize public rental housing＇ s sustainable supply, this essay integrates BOT, REITs, tax credit three modes and puts forward BRT developing mode for public rental housing, in an effort to attract social capital＇ s investment. Firstly, on the premise that REITs developers and tax credits inves- tors＇ 6.55% annual return is ensured, this essay applies engi- neering economy to make an empirical analysis on a rental hous- ing project in Beijing. The result shows that BRT developing mode raise 49. 12% construction funds for REITs developers, and decrease 15.98% financial pressure for governments. Moreover, governments could leverage 741 million yuan current investment with only 51 million yuan tax credits per year in 10 years; BRT developing mode for public rental housing＇ s advantage is remarkable. Secondly, from the perspective of governments, REITs and tax credits investors, this essay discusses the feasibility of implementation of BRT developing mode for public rental housing in China.

关 键 词：BOT REITS 税收抵免 公租房 社会资本 

分 类 号：F299.23[经济管理—国民经济]