| Summary: | 碩士 === 國立成功大學 === 都市計劃學系碩博士班 === 95 === History in the securitization of the real estate has more than 40 years in America. The operation relation accords with the demand of market investment, succeed in driving the activating of the capital market, influence the real estate market to develop indirectly. Japan is under the influence of bubble economy, use the securitization to improve the problem of financial market, and then use the various operation way flexibly formed the financial mechanism in urban redevelopment, in order to reach the important policy of urban development at present.
The securitization law of real estate utilize the trust way to stimulate the real estate market and try to improve urban renewal in development aspect. But from now on, The operating way doesn’t had marketability in urban renewal. The research made the self-criticism of various kinds of operation ways of America and Japan first, find out about meaning of structural design of securitization, Developing the operation way of real estate of securitization in urban renewal.
Conclusion found out the operation ways of real estate securitization on the basis of principles of urban renewal should combine planning, financial and management. Develop the condition of projects to establish the relation between power and responsibility of operation way. The urban renewal should not be made in single securitization structure. Finally, research makes a self-criticism in actually case of urban renewal, carry on financial simulation by the way of real estate asset trust, proving the way is really favorable for landlords, and reach disperse of risk and expand the fund-raising range.
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