Year: 2025
Type: article
Abstract: Housing is a fundamental issue affecting residents' lives. With the rapid acceleration of urbanization, low- and middle-income families in urban areas face significant housing pressure. The construction of public rental housing (PRH) aims to provide affordable housing below market prices for groups whose income exceeds the threshold for low-rent housing but who cannot afford to purchase commercial housing or economically affordable housing. However, relying solely on government fiscal investment to fund affordable housing not only leads to an unreasonable allocation of national finances but also hinders the sustainable development and construction of PRH. By introducing market mechanisms into the affordable housing system and utilizing the ABS (Asset-Backed Securities) financing model for PRH construction, a solid foundation is established for the sustainable development of this type of affordable housing. This paper examines the current status and challenges of PRH construction, analyzing the contradiction between high demand and insufficient supply, as well as the sources of funding for PRH. Furthermore, it explores the ABS financing model, its feasibility, and its advantages in PRH development. Through a case study of the Yueyanglou District Gulin Community Railway Block Urban Lowland Waterlogging Area Redevelopment Public Rental Housing Project in Yueyang City, this paper analyzes the application of ABS financing in PRH construction.
Author: Lin Yu
Institution: University of Hong Kong
Language: English
Topic: Housing Market and Economics
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4408991445