试论海外房地产基金在中国的发展

随着央行121文的颁布，国内地产界对多渠道融资盼望热切，海外基金也纷纷加速进军中国房地产的步伐。在海外，房地产基金已经是一个发展了数十年、非常成熟的行业。从政策环境、金融环境、市场环境等多方面都非常稳定，因此操作运营方式也就形成了一套很有效而稳定的模式。海外房地产基金进入中国除了能带来资金外，还能引进先进的管理运作模式，但对投资者来讲还没有找到规范、安全的通道，缺乏权益保障和退出机制。此外，基金还要面临法律、企业和市场的多重考验，因此海外基金要想真正进入中国，需要充分考虑中国的市场现状，慎重选择投资模式。

The Developement of the Overseas Funds in China

With the issue of 121 documents of Central Bank, domestic real estate market looks forward to being earnest to multi-channel financing in the country, overseas funds march into the paces of the Chinese real estate with higher speed one after another too. Abroad, the real estate fund has developed for several years and become a mature industry. Many aspects all very steady, such as policy environment, financial environment and market environment,etc., it has developed a very effective and steady mode to operate. The overseas real estate fund enters China besides be able to bring the funding, still can introduce the advanced management operation mode , but it has not found the passways of the norm , security for investor yet , and lacked the safeguard of rights and interests and withdrawal mechanism. In addition,the fund will face the multiple test of law?enterprise and marketing,so the fund want to come into china real estate market really,so the overseas fund should want to really enter China, need fully considering the market current situation of China, choose the mode of investment cautiously.