China is likely to soon give the go ahead to the first batch of real estate investment trusts (Reits) backed by rental homes, as local governments ramp up efforts to lower the cost of living for young professionals and tame soaring property prices.The asset-backed securities, offering developers a new funding source, will effectively support construction of rental homes, which could amount to 500 billion yuan (US$77.6 billion) over the next five years, according to analysts.“Reits are an…
Source : South China Morning Post
Read more…Reits seen as a viable funding source for China’s rental home builders, with US.6 billion required in short-term
