房地产业的结构性机会——城市更新时代  

Structural Opportunities in Real Estate Industry: Urban Renewal Era

作　　者：张惠忠 ZHANG Huizhong(Shanghai Construction Group Investment Co.,Ltd.,Shanghai 200080,China)

机构地区：[1]上海建工集团投资有限公司,上海200080

出　　处：《建筑施工》2019年第8期1588-1590,共3页Building Construction

摘　　要：通过对中国城市化进程中商业地产的投资回报和不同发展阶段的投资策略分析,指出房地产业的不变法则在于区位,城市核心区位的存量地产无疑将最具持续发展的价值。结合现阶段城市土地供给不足、城市老化的实际情况,指出商业地产投资中的存量周期在城市更新时代将机会巨大。对于城市更新而言,将低效的存量物业通过品质提升和优化管理转化成高效资产只是实现资产增值的第一步,重要的是要借助资产证券化提升存量地产的流动性,通过资产价值重估实现增值。Through the analysis of the investment return of commercial real estate in China’s urbanization process and the investment strategy at different stages of development, it is pointed out that the invariable law of the real estate industry lies in the location, and the stock of real estate in the core area of the city will undoubtedly have the most sustainable development value. Combined with the actual situation of urban land supply shortage and urban aging at present stage, it is pointed out that the stock cycle in commercial real estate investment will have great opportunities in the era of urban renewal. For urban renewal, transforming inefficient stocks into high-efficiency assets through quality improvement and optimization management is only the first step to realize asset appreciation. What is important is to improve the liquidity of existing properties through asset securitization and realize appreciation through asset value revaluation.

关 键 词：城市更新 商业地产 存量地产 房地产基金 

分 类 号：F407.9[经济管理—产业经济]