Long rental apartments: waiting for the market to be reduced
shangjie· 2017-10-12 22:33:28
rental market framework has been built, but the market is still far from mature. Only when rental returns rise to a certain level will REITs become mainstream.
rental return rate so low, sale is the kingly way, choose to do the middleman landlord can be very painful; only in the rental rate of return rises to a certain level, when the positive leverage becomes meaningful, REITs will become the mainstream.
1, the rental market in the future: 300 million and 3 trillion
, there is no doubt that China population will increasingly focus on the three core metropolitan area: Beijing Tianjin Hebei, Yangtze River Delta, Pearl River Delta, and as core city all over the world, talent and capital together, will inevitably result in high prices, and continuously extend the city residents in the housing state of residence time. China's housing rental market will be 300 million, 3 trillion of the big market in the future. The demand side of leasing will not only be confined to urban white-collar workers, but will also extend to young couples, single parent families and even elderly people who need care.
a large number of housing rental demand, corresponding to the core city circle stock housing asset management needs. It is urgent for professional institutions to provide asset custody services for a large amount of stock owned by individuals and enterprises.
rental market framework has been set up: supply and demand sides, the relevant intermediaries have emerged.
but the market is far from mature.
2, in the "low dimension" of the "Red Sea"
day of meetings, contact to the apartment operators first, understand their confusion, complain, proud to talk about my observation:
1) of apartment operators: small, scattered, chaotic, the old
had a meeting last year, people exchange name card to me, this year many have not seen, the industry is small, scattered remarkable. As for the
chaos, is reflected in all apartments in the founder do share, again and again, is nothing more than propaganda industry industry complain that poaching, vicious competition. During the initial period of the barbaric growth, but also created the apartment industry Jianghu gas - relying on the founder of the eldest brother personality charm can barely agglomerate team.
old, or old, is the thing that surprises me most.
the industry as a whole, from practitioners to business models, is full of an "old" feeling. Even if the industry's leading green customers, introduced their standardized management and cost control, sounds like the management story of the last century. On the tactics of "innovation", can not cover up the strategy "middleman landlord" Tubao essence, which will not be recognized, most of the apartments enterprises Mingmen -- stock financing and debt financing difficult, expensive capital market, all because of your business model is too old, frankly, stupid capital, too not "how high the drudgery of middleman landlord" valuation.
2) I'm sorry, but I don't see any difference between you.
homogenization is another feature of the apartment industry. A detail, organizers sent a bag to every guest, which is the major sponsor of the promotional brochure, with a turn, almost every apartment enterprise will wrote in the propaganda page: interior decoration with "IKEA style", "north wind", this and they flaunt the careful study of the customer the formation of preferences, big contrast, for example, if someone love "rosewood wind", there will be collapse.
is the same, the same decoration guide (58 city), another after the convergence of service level -- to tell the truth, in addition to the entire rent and rent form difference scattered outside, I can't see you exactly where the difference.
3) the competitiveness of operations management? A detail of
, may see the level of operation and management of the existing apartment industry. Panel links, apartment business representatives speak about their confidence for the industry, said: I do not long apartment, but I think this long apartment market can do the infinite imagination space is infinite, so we have to transfer negative information filtering of the financial institutions, have their own judgment.
two issues: first, the market can not be infinite, any market can be measured, not to mention before you have said they are in the market, if the market segments, but also is the core city of some segments of the market, so the number of passenger groups, can actually be considered the "infinity" this is actually quite funny. Second, the market is "infinite", and you occupy a certain market share, is unable to draw an equal sign, the mobile phone market is also very big, but the mobile phone enterprise is still a piece of dumping.
4) "low dimensional" in the "Red Sea" of the existing
play method, is very traditional, homogenization of the "middleman landlord" mode, through process management, cost control, squeeze out a little bit of profit, but if the cost of capital, or a little higher rental rate dropped slightly a little profit will are all eat. The four difficulties of
apartment operators are: the operation ability encounters bottleneck, accommodation quality is difficult to improve, the rent cost is higher and higher, the income is lower and lower, the promotion cost is limited, the source is single, and the material purchasing cost is high. The traditional play method, individual combat, will naturally encounter the above problems, the current financial leverage can be used, but also basically the Internet Finance
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