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Real estate loans are loans and real estate or real estate development, management, and other activities related to consumer loans , including land reserve loans , real estate development loans and individual housing loans, commercial housing loans. Although for real estate developers, lending by national macroeconomic policies , especially the impact of interest rate policy is large, but the bank is still the main channel for real estate financing . Of course, the threshold will be increasingly high bank financing , bank loans in the real estate capital chain will gradually decrease in the proportion of : non-bank financing will accelerate the liberalization of direct financing and securitization financing to accelerate not only the bank to reduce its own risk , only from the United States and other developed countries, real estate finance pattern analysis, the ratio of bank credit is gradually reduced , bank credit derivatives and non-credit classes , and constantly improve the financing endless varieties . The rapid development of the real estate market , a lot of money will naturally enter the real estate market, bank- led model for future major financial markets will face a series of problems , either for business or for individuals .

从理论上讲，最好的办法就是公开交易，因为直接融资化解金融风险，降低融资成本，改善企业的资本结构。然而，房地产企业上市是非常困难的，因为它不同于普通的工业企业盈利，资金流是不连续的，周期性的，在伟大的条件，这是很难达到市场的要求，如建立至少3年，最近3年盈利，发行人的业务和管理近三年相同，所以可比性。

In theory, the best way is publicly traded , because the direct financing from defuse financial risks , reduce financing costs, improve corporate capital structure. However , the real estate enterprises listed is very difficult, because it 's profitable Unlike ordinary industrial enterprises , capital flow is not continuous, cyclical 's in great condition , it is difficult to reach market requirements, such as the establishment of at least 3 years , have recently 3-year comparability of earnings, management of the issuer's business and nearly three years with the same and so on. Listed real estate companies was the dream of a financing channels , but in the 1994 macro backdrop, China Securities Regulatory Commission decided not to accept the application for the listing real estate development companies , until the beginning of 2001 the ban was lifted . In China, most of the real estate business is through the shell , recombination market. The listing of real estate enterprises can quickly raise huge amounts of money , and the money can be raised through permanent use as registered capital , no fixed terms of repayment , so for some of the larger development projects, especially commercial real estate development has great advantage. Some eager to expand the scale and development potential of the funds and medium-sized enterprises can also consider buying ( borrowing ) to finance housing market .

房地产债券是公司债券的一个组成部分。中国的房地产企业发行企业债券，是罕见的。房地产债券最早出现在1992年，由于后来接二连三的企业债券到期无法偿还的情况下，中国的债券市场从低潮。国家也采取了严格的措施，严格限制房地产企业发行债券，在1993年到1998年上半年，房地产公司没有公开发行房地产债券。近年来，发行公司债券也是为数不多的房地产，债务融资条件的企业要求更高的中小企业融资企业是难以涉足房地产的。

Real estate bonds are corporate bonds is an integral part . Chinese real estate enterprises to issue corporate bonds are rare. Real Estate Notes first appeared in 1992 , due later spate of corporate bond maturity can not repay the event , China's bond ma