äžåç£æè³ä¿¡èšïŒREITïŒã®äžçãæ¢æ±ããã®ä»çµã¿ãã¡ãªããããªã¹ã¯ã忣åããŒããã©ãªãªãæ§ç¯ããããã®ã°ããŒãã«ãªæè³æ©äŒã«ã€ããŠåŠã³ãŸãã
äžåç£æè³ä¿¡èšïŒREITïŒã®çè§£ïŒã°ããŒãã«æè³å®¶åãã¬ã€ã
äžåç£æè³ä¿¡èšïŒREITïŒã¯ãäžçã®æè³ç°å¢ã«ãããŠèåãªååšãšãªããæè³å®¶ãç©ççãªäžåç£ãçŽæ¥ææããããšãªãäžåç£åžå Žã«åå ã§ãããŠããŒã¯ãªææ®µãæäŸããŠããŸãããã®ã¬ã€ãã§ã¯ãREITã®å æ¬çãªæŠèŠããã®ä»çµã¿ãå©ç¹ããªã¹ã¯ããããŠããŒããã©ãªãªã«REITãçµã¿èŸŒãããšãç®æãã°ããŒãã«æè³å®¶ã®ããã®èæ ®äºé ã«ã€ããŠèª¬æããŸãã
äžåç£æè³ä¿¡èšïŒREITïŒãšã¯ïŒ
REITã¯ãæ¬è³ªçã«åçãçãäžåç£ãææãéå¶ããŸãã¯èè³ããäŒç€Ÿã§ããè€æ°ã®æè³å®¶ããè³æ¬ãéããŠãããŸããŸãªçš®é¡ã®äžåç£ãååŸã»ç®¡çããäžå ŽäŒæ¥ãšèããŠãã ããããããã¯ããªãã£ã¹ãã«ãã·ã§ããã³ã°ã¢ãŒã«ã®ãããªåæ¥çšäžåç£ãããéåäœå® ããã«ã¹ã±ã¢æœèšãããã«ã¯æºåž¯é»è©±ã®é»æ³¢å¡ãããŒã¿ã»ã³ã¿ãŒãšãã£ãã€ã³ãã©è³ç£ãŸã§å€å²ã«ããããŸããREITã®äž»ãªæ©èœã¯ãäž»ã«è³è²žåå ¥ãå Žåã«ãã£ãŠã¯äžåç£å£²åŽãéããŠããã®ææç©ä»¶ããåçãçã¿åºãããšã§ãããã®åçã¯ãé åœã®åœ¢ã§æ ªäž»ã«åé ãããŸãã
REITã¯æ³äººãšåæ§ã®çµç¹æ§é ãæã¡ãŸãããç¹å¥ãªçšå¶äžã®åªéæªçœ®ãåããŠããŸããäžè¬çã«ãèª²çšæåŸã®å€§éšåïŒéåžž90%以äžïŒãé åœãšããŠæ ªäž»ã«åé ããããšã矩åä»ããããŠããŸãããã®èŠè¿ããšããŠãREITã¯æ³äººæåŸçšã®å¯Ÿè±¡å€ãšãªããåçã®å€§éšåãæè³å®¶ã«çŽæ¥éå ããããšãã§ããŸãããã®ä»çµã¿ã«ãããREITã¯ã€ã³ã«ã ã²ã€ã³ãæ±ããæè³å®¶ã«ãšã£ãŠé åçãªãã®ãšãªã£ãŠããŸãã
REITã®ä»çµã¿
REITã®éå¶ã¢ãã«ã¯åçŽæå¿«ã§ããäŒç€Ÿã¯æè³å®¶ããéããè³æ¬ãšåå ¥éã䜿ã£ãŠãäžåç£è³ç£ãååŸã»ç®¡çããŸããããã«ã¯ãæ¢åã®ç©ä»¶ã®ååŸãæ°èŠéçºããŸãã¯äžåç£ãããžã§ã¯ããžã®èè³ãå«ãŸããŸããäž»ãªåŽé¢ã¯ä»¥äžã®éãã§ãã
- ç©ä»¶ååŸïŒREITã¯ããã®æè³æŠç¥ã«æ²¿ã£ãç©ä»¶ãç©æ¥µçã«æ¢ããŸããããã«ã¯ããªãã£ã¹ãã«ã忥æœèšãéåäœå® ããŸãã¯ç¹æ®ãªç©ä»¶ã®ååŸãå«ãŸããŸãã
- ç©ä»¶ç®¡çïŒREITã¯ãããã³ã管çãç©ä»¶ã®ç¶æç®¡çãè³æååãªã©ã®æ¥åãå«ããææç©ä»¶ã®ç¶ç¶çãªç®¡çãæ åœããŸããäžéšã®REITã¯ããããã®æ©èœã®äžéšãŸãã¯å šéšãå°éã®ç©ä»¶ç®¡çäŒç€Ÿã«å€éšå§èšããå ŽåããããŸãã
- è³è²žåå ¥ïŒREITã®äž»ãªåçæºã¯ãããã³ããã城åããè³æã§ããè³è²žåå ¥ã®é¡ã¯ã皌åçãè³ææ°ŽæºããªãŒã¹æ¡ä»¶ãªã©ãããã€ãã®èŠå ã«ãã£ãŠæ±ºãŸããŸãã
- é åœåé ïŒREITã¯ãèª²çšæåŸã®å€§éšåãé åœã®åœ¢ã§æ ªäž»ã«åé ããŸãããããã®é åœã¯éåžžãååæããšã«æ¯æãããæè³å®¶ã«å®æçãªåå ¥ã®æµããæäŸããŸãã
- ãã£ãã¿ã«ã²ã€ã³ïŒé åœã«å ããŠãREITã¯ãã£ãã¿ã«ã²ã€ã³ïŒè³ç£äŸ¡å€ã®äžæïŒãéããŠããªã¿ãŒã³ãçã¿åºãããšãã§ããŸããããã¯ãREITãææããç©ä»¶ã®äŸ¡å€ãæéãšãšãã«å¢å ããå Žåã«çºçããŸãããã£ãã¿ã«ã²ã€ã³ã¯ãREITã®æ ªäŸ¡ã«åæ ãããããšããããŸãã
REITã®çš®é¡
REITã¯ããã®æè³æŠç¥ãææã»èè³ããäžåç£ã®çš®é¡ã«åºã¥ããŠå€§ãŸãã«åé¡ãããŸãããããã®ç°ãªãçš®é¡ãçè§£ããããšã¯ãåã ã®å¥œã¿ããªã¹ã¯èš±å®¹åºŠã«åãããæè³éžæãè¡ãäžã§éèŠã§ããäž»ãªã«ããŽãªã¯ä»¥äžã®éãã§ãã
- ãšã¯ã€ãã£åREITïŒããã¯æãäžè¬çãªçš®é¡ã®REITã§ãããšã¯ã€ãã£åREITã¯ãåçãçãäžåç£ãææã»éå¶ããŸãããã®åçã¯äž»ã«è³è²žåå ¥ããçã¿åºãããŸããäŸãšããŠããªãã£ã¹ãã«ãã·ã§ããã³ã°ã¢ãŒã«ãéåäœå® ãç£æ¥çšäžåç£ãææããREITãæããããŸãã
- ã¢ãŒã²ãŒãžåREITïŒmREITïŒïŒã¢ãŒã²ãŒãžåREITã¯ç©ççãªäžåç£ãææããã代ããã«äœå® ããŒã³ãã¢ãŒã²ãŒãžæ ä¿èšŒåžã«æè³ããŸãããã®åçã¯ããããã®æè³ããåŸãããå©åã«ãã£ãŠçã¿åºãããŸããã¢ãŒã²ãŒãžåREITã¯ãäœå® ããŒã³ã«ç¹åãããã®ã忥çšããŒã³ã«ç¹åãããã®ããŸãã¯ãã®äž¡æ¹ãçµã¿åããããã®ã«ããã«åããããŸãã
- ãã€ããªããåREITïŒãã€ããªããåREITã¯ããšã¯ã€ãã£åãšã¢ãŒã²ãŒãžåREITã®äž¡æ¹ã®èŠçŽ ãçµã¿åããããã®ã§ããäžåç£ãšäœå® ããŒã³ã®äž¡æ¹ã«æè³ããŸãããã®åæ£ã«ãããæè³å®¶ã¯è³è²žåå ¥ãšå©ååå ¥ã®äž¡æ¹ãžã®ãšã¯ã¹ããŒãžã£ãŒãåŸãããšãã§ããŸãã
- ç¹ååREITïŒããã¯ãããããªåžå Žã«ç¹åããREITãå æ¬ããåºç¯ãªã«ããŽãªã§ããäŸãšããŠãããŒã¿ã»ã³ã¿ãŒãæºåž¯é»è©±ã®é»æ³¢å¡ã森æå°ããã«ã¹ã±ã¢æœèšãã»ã«ãã¹ãã¬ãŒãžæœèšãææããREITãæããããŸãã
ãããã®ã«ããŽãªå ã§ã¯ãå°ççãªçŠç¹ãäžåç£ããŒããã©ãªãªã®çš®é¡ããŸãã¯REITã®æè³ã¹ã¿ã€ã«ã«åºã¥ããŠãããã«åºå¥ããããšãå¯èœã§ãã
REITã«æè³ããã¡ãªãã
REITãžã®æè³ã¯ãããŒããã©ãªãªã忣ããåçãçã¿åºãããæè³å®¶ã«ãšã£ãŠãããã€ãã®æœåšçãªå©ç¹ãæäŸããŸãããããã®ã¡ãªããã«ã¯ä»¥äžãå«ãŸããŸãã
- é«ãé åœå©åãïŒREITã¯é åçãªé åœå©åãã§ç¥ãããŠãããããã¯åŸæ¥ã®æ ªåŒãåµåžãæäŸãããã®ãããé«ãããšããããããŸããããã¯ãåçã®ããªãã®éšåãæ ªäž»ã«åé ããããšã矩åä»ããããŠããããã§ããããã«ãããREITã¯ã€ã³ã«ã ã²ã€ã³ãæ±ããæè³å®¶ã«ãšã£ãŠé åçã§ãã
- 忣æè³ïŒREITã¯ãäžåç£ãšããè³ç£ã¯ã©ã¹ãžã®ãšã¯ã¹ããŒãžã£ãŒãæäŸããããšã§ãããŒããã©ãªãªã«åæ£å¹æãããããããšãã§ããŸããäžåç£ã¯ãã°ãã°æ ªåŒãåµåžãšã®çžé¢ãäœããREITã®åããä»ã®è³ç£ã¯ã©ã¹ã®åããšç°ãªãå¯èœæ§ãããããšãæå³ããŸãã
- ã€ã³ãã¬ãããžïŒäžåç£ã¯ã€ã³ãã¬ã«å¯Ÿããè¯ããããžãšãªãåŸåããããŸããã€ã³ãã¬ãäžæãããšãäžåç£äŸ¡å€ãè³æãäžæããããšãå€ãããããREITã®åçå¢å ããããŠæœåšçã«ã¯æè³å®¶ãžã®é åœå¢å ã«ã€ãªããå¯èœæ§ããããŸãã
- æµåæ§ïŒäžå ŽREITã¯äž»èŠãªèšŒåžååŒæã«äžå ŽããŠãããããæè³å®¶ã«æµåæ§ãæäŸããŸããç°¡åã«å£²è²·ã§ãããããæè³å®¶ã¯å¿ èŠã«å¿ããŠããžã·ã§ã³ã調æŽã§ããŸãã
- å°éå®¶ã«ãã管çïŒREITã¯äžåç£ã®å°éå®¶ã«ãã£ãŠç®¡çãããŠããŸããããã«ãããæè³å®¶ã¯äžåç£ãçŽæ¥ç®¡çããè² æ ããè§£æŸãããŸãã
- äžåç£åžå Žãžã®ã¢ã¯ã»ã¹ïŒREITã¯ãå人æè³å®¶ãäžåç£åžå Žã«ã¢ã¯ã»ã¹ããããããŸããREITã¯èšŒåžå£åº§ãéããŠè³Œå ¥ã§ããçŽæ¥ã®äžåç£ææãšæ¯èŒããŠå°ãªãè³æ¬ã§äžåç£ã«æè³ããããšãå¯èœã§ãã
REITã«é¢é£ãããªã¹ã¯
REITã¯é åçãªã¡ãªãããæäŸããŸããããªã¹ã¯ããªãããã§ã¯ãããŸãããæè³å®¶ã¯ãè³éãæããåã«æœåšçãªãã¡ãªãããèªèããå¿ èŠããããŸããäž»ãªãªã¹ã¯ã¯ä»¥äžã®éãã§ãã
- éå©ãªã¹ã¯ïŒREITã¯éå©ã®å€åã«ææã§ããéå©ãäžæãããšãREITã®åå ¥ã³ã¹ããå¢å ããåçæ§ãäœäžããé åœæ¯æããæžå°ããå¯èœæ§ããããŸãããŸããéå©ãäžæãããšãåµåžãªã©ã®ä»ã®æè³ãšæ¯èŒããŠREITã®é åãäœäžããå¯èœæ§ããããŸãã
- æ¯æ°åŸéãªã¹ã¯ïŒREITã®ããã©ãŒãã³ã¹ã¯æ¯æ°åŸéã®åœ±é¿ãåããå¯èœæ§ããããŸããäžæ³æã«ã¯ã忥ã¹ããŒã¹ã®éèŠãæžå°ãã皌åçã®äœäžãè³è²žåå ¥ã®æžå°ãäžåç£äŸ¡å€ã®äžèœã«ã€ãªããå¯èœæ§ããããŸãã
- ç©ä»¶åºæã®ãªã¹ã¯ïŒREITã¯ãããã³ãã®åµåäžå±¥è¡ãç©ä»¶ã®æå·ãå°åã®åžå Žç¶æ³ã®å€åãªã©ãç©ä»¶åºæã®ãªã¹ã¯ã«ãããããŠããŸãã
- çµå¶ãªã¹ã¯ïŒREITã®ããã©ãŒãã³ã¹ã¯ããã®çµå¶é£ã«å€§ããäŸåããŸããäžé©åãªçµå¶å€æã¯ãREITã®åçæ§ãæ ªäŸ¡ã«æªåœ±é¿ãäžããå¯èœæ§ããããŸããæè³å®¶ã¯ãREITã®çµå¶é£ã®çµéšãšå®çžŸãè©äŸ¡ããå¿ èŠããããŸãã
- è©äŸ¡ãªã¹ã¯ïŒREITã®è©äŸ¡ã¯åžå Žå¿çã«åœ±é¿ãããå¯èœæ§ãããããããäŸ¡æ Œã®å€åã«ã€ãªããããšããããŸãã
- éäžãªã¹ã¯ïŒREITã®ããŒããã©ãªãªãç¹å®ã®å°åãç©ä»¶ã¿ã€ãã«éäžããŠããå Žåããã®å°åãç©ä»¶ã¿ã€ãã«ç¹æã®çµæžç¶æ³ã«å¯Ÿããè匱æ§ãé«ãŸãå¯èœæ§ããããŸãã
REITã«æè³ããåã«èæ ®ãã¹ãèŠå
REITã«æè³ããåã«ãæè³å®¶ã¯ããã€ãã®èŠå ãæ éã«èæ ®ããå¿ èŠããããŸãããã®ãã¥ãŒããªãžã§ã³ã¹ã¯ãæè³ã財åç®æšããªã¹ã¯èš±å®¹åºŠãšäžèŽãããã®ã«åœ¹ç«ã¡ãŸããäž»ãªèæ ®äºé ã¯ä»¥äžã®éãã§ãã
- æè³ç®æšïŒããªãã®æè³ç®æšãREITã®å¯èœæ§ãšäžèŽãããŠãã ãããã€ã³ã«ã ã²ã€ã³ããã£ãã¿ã«ã²ã€ã³ãããŒããã©ãªãªã®åæ£ãªã©ãããªãã®è²¡åç®æšãèæ ®ããREITãå šäœèšç»ã«é©åãããã©ããã倿ããŸãã
- ãªã¹ã¯èš±å®¹åºŠïŒããªãã®ãªã¹ã¯èš±å®¹åºŠãè©äŸ¡ããŠãã ãããã©ã®çšåºŠã®ãªã¹ã¯ã蚱容ã§ãããã倿ããREITãžã®æè³ãããªãã®ãªã¹ã¯ãããã¡ã€ã«ãšäžèŽããŠããããšã確èªããŠãã ããã
- 財åç¶æ³ïŒæ¢åã®æè³ãè² åµãããã³è²¡åäžã®çŸ©åãå«ããçŸåšã®è²¡åç¶æ³ãè©äŸ¡ããŸããããã«ããã財åã®å®å®æ§ãæãªãããšãªãREITã«æè³ã§ããéé¡ã決å®ããã®ã«åœ¹ç«ã¡ãŸãã
- ãã¥ãŒããªãžã§ã³ã¹ïŒæ€èšããŠããREITã«ã€ããŠåŸ¹åºçãªãã¥ãŒããªãžã§ã³ã¹ã宿œããŸããããã«ã¯ãREITã®è²¡å諞衚ã®ç¢ºèªãæè³æŠç¥ã®çè§£ãçµå¶é£ã®è©äŸ¡ãææç©ä»¶ã®ããŒããã©ãªãªã®è©äŸ¡ãå«ãŸããŸãã
- é åœå©åããšé åœæ§åïŒREITã®é åœå©åããšé åœæ§åãåæããŸããé«ãé åœå©åãã¯é åçã§ãããREITãé åœæ¯æããç¶æã§ããããšã確èªããŠãã ãããé åœæ§åã¯ãREITãå©çã®ãã¡äœããŒã»ã³ããé åœãšããŠæ¯æã£ãŠãããã瀺ããŸãã
- 財åã®å¥å šæ§ïŒREITã®è² 嵿°Žæºããã£ãã·ã¥ãããŒãåçæ§ãªã©ã財åã®å¥å šæ§ãè©äŸ¡ããŸãããã®åµåã管çããäºæ¥ãšé åœæ¯æããæ¯ããã®ã«ååãªãã£ãã·ã¥ãããŒãçã¿åºãèœåãè©äŸ¡ããŸãã
- äžåç£ããŒããã©ãªãªïŒREITã®äžåç£ããŒããã©ãªãªã®è³ªã倿§æ§ãããã³ç«å°ãè©äŸ¡ããŸããç°ãªãç©ä»¶ã¿ã€ããå°ççãªå Žæã«ããã倿§ãªããŒããã©ãªãªã¯ããªã¹ã¯ãæžããããšãã§ããŸãã
- åžå Žç¶æ³ïŒREITã«åœ±é¿ãäžãããäžè¬çãªåžå Žç¶æ³ãçµæžååã«ã€ããŠåžžã«æ å ±ãåŸãŠãããŸããéå©ãã€ã³ãã¬ãçµæžæé·ããããã®ããã©ãŒãã³ã¹ã«ã©ã®ããã«åœ±é¿ããããèæ ®ããŠãã ããã
REITã«ãããã°ããŒãã«ãªæ©äŒ
ã°ããŒãã«REITåžå Žã¯ãåœéçãªæè³å®¶ã«å€æ§ãªæè³æ©äŒãæäŸããŸãããã®ç¶æ³ã¯ãåœãå°åã«ãã£ãŠå€§ããç°ãªããŸãã以äžã®ç¹ãèæ ®ããŠãã ããã
- ç±³åœïŒç±³åœã®REITåžå Žã¯äžçã§æå€§ãã€æãæçããŠãããããŸããŸãªäžåç£ã»ã¯ã¿ãŒã«ãããå¹ åºãREITãæäŸããŠããŸããå€§èŠæš¡ã§æµåæ§ã®é«ãååŒæã«ãããç°¡åãªååŒãå¯èœã§ãã
- ãšãŒãããïŒè±åœããã©ã³ã¹ããã€ããªã©ã®ãšãŒãããã®REITåžå Žã¯ãŸããŸãæŽç·ŽãããŠãããè€æ°ã®ã»ã¯ã¿ãŒã§éžæè¢ãå¢ããŠããŸãã
- ã¢ãžã¢å€ªå¹³æŽå°åïŒãªãŒã¹ãã©ãªã¢ãã·ã³ã¬ããŒã«ãæ¥æ¬ãªã©ã®åœã ã®REITã¯ãé åçãªæè³èŠéããæäŸããŸãããã®å°åã®æ¥éãªçµæžæé·ãšéœåžåãäžåç£éèŠãçœåŒããŠãããREITã«æ©äŒããããããŠããŸãã
- æ°èåžå ŽïŒæ°èåžå Žã¯é«ãæé·ããã³ã·ã£ã«ãæäŸããå¯èœæ§ããããŸãããåæã«é«ããã©ãã£ãªãã£ãšãªã¹ã¯ã䌎ããŸãããããã®åžå Žã®REITã«æè³ããã«ã¯ãæ éãªåæãšãã¥ãŒããªãžã§ã³ã¹ãéèŠã§ããäŸãšããŠãäžåœããã©ãžã«ãã€ã³ãã®REITãæãããããããã¯ç¹å®ã®ã»ã¯ã¿ãŒã§é«ãæé·ããã³ã·ã£ã«ãæäŸããå¯èœæ§ããããŸãã
- 忣广ïŒã°ããŒãã«ã«åæ£ãããREITããŒããã©ãªãªãžã®æè³ã¯ã倧ããªåæ£å¹æããããããæè³å®¶ããªã¹ã¯ãç°ãªãåžå Žãç©ä»¶ã¿ã€ãã«åæ£ãããããšãå¯èœã«ããŸããããã«ãããæœåšçã«ãªã¿ãŒã³ãåäžãããããŒããã©ãªãªã®ãã©ãã£ãªãã£ãäœæžããããšãã§ããŸãã
REITãžã®æè³æ¹æ³
REITãžã®æè³ã¯æ¯èŒçç°¡åã§ãããã€ãã®åå æ¹æ³ããããŸãããããã«ã¯ä»¥äžãå«ãŸããŸãã
- 蚌åžå£åº§ãéããŠïŒæãäžè¬çãªæè³æ¹æ³ã¯ã蚌åžå£åº§ãéããŠè¡ãããšã§ããæè³å®¶ã¯ãäž»èŠãªèšŒåžååŒæã«äžå ŽããŠããäžå ŽREITã®æ ªåŒã売買ã§ããŸããããã«ãããç°¡åãªã¢ã¯ã»ã¹ãšæµåæ§ãåŸãããŸãã
- REIT ETFïŒREITã«ç¹åããäžå Žæè³ä¿¡èšïŒETFïŒãéžæè¢ã®äžã€ã§ããREIT ETFã¯ã倿°ã®REITã«ããã忣æè³ãæäŸããæè³ãç°¡çŽ åããŸããããã«ãããåå¥ã®REITãææããããšã«äŒŽããªã¹ã¯ã軜æžã§ããŸãã
- REITæè³ä¿¡èšïŒREITæè³ä¿¡èšã¯ãå°éçãªç®¡çãšåæ£ãæäŸããæè³å®¶ããã¡ã³ããããŒãžã£ãŒã«ãã£ãŠç®¡çãããREITã®ããŒããã©ãªãªã«æè³ããããšãå¯èœã«ããŸãã
- çŽæ¥æè³ïŒå人æè³å®¶ã«ãšã£ãŠã¯ããŸãäžè¬çã§ã¯ãããŸããããéå ¬éã®REITã«çŽæ¥æè³ããããšãå¯èœã§ãããã ãããããã¯éåžžãäžå ŽREITã®æµåæ§ãæ¬ ããŠããŸãã
- äžåç£æè³ä¿¡èšïŒREITïŒã€ã³ããã¯ã¹ãã¡ã³ãïŒã€ã³ããã¯ã¹ãã¡ã³ãã¯ãFTSE Nareit All REITs Indexãªã©ã®ç¹å®ã®ææ°ã«é£åããŸãããã®ã¢ãããŒãã¯ãåºç¯ãªåžå Žãžã®ãšã¯ã¹ããŒãžã£ãŒãæäŸããè²»çšå¯Ÿå¹æã®é«ãæè³æ¹æ³ãšãªãåŸãŸãã
ã°ããŒãã«REITããŒããã©ãªãªã®æ§ç¯ïŒå®è·µçã¢ãããŒã
ã°ããŒãã«REITããŒããã©ãªãªãæ§ç¯ããã«ã¯ãæ éãªèšç»ãšå®è¡ãå¿ èŠã§ãã以äžã®å®è·µçãªã¹ããããæ€èšããŠãã ããã
- æè³ç®çã®å®çŸ©ïŒã€ã³ã«ã ã²ã€ã³ããã£ãã¿ã«ã²ã€ã³ããŸãã¯ããŒããã©ãªãªã®åæ£ãªã©ãããªãã®ç®æšãæç¢ºã«ããŸãã
- è³ç£é åã®èšå®ïŒããŒããã©ãªãªã®äžã§REITã«å²ãåœãŠãå²åãæ±ºå®ããæ ªåŒãåµåžãçŸéãªã©ã®ä»ã®è³ç£ã¯ã©ã¹ãšã®ãã©ã³ã¹ãåããŸãã
- REITã®èª¿æ»ïŒè²¡å諞衚ãçµå¶é£ãäžåç£ããŒããã©ãªãªãé åœå±¥æŽã«çŠç¹ãåœãŠãŠã培åºçãªèª¿æ»ãè¡ããŸãã
- æè³å ã®éžå®ïŒåå¥ã®REITãšREIT ETFã®äž¡æ¹ãèæ ®ããããªãã®æè³æŠç¥ãšãªã¹ã¯èš±å®¹åºŠã«åã£ãREITãéžæããŸãã
- å°ççãªåæ£ïŒæè³ãç°ãªãå°åãåœã«åæ£ãããŸããäžçã®çµæžèŠéããåžå Žç¶æ³ãèæ ®ããŸãã
- ç©ä»¶ã¿ã€ãã«ãã忣ïŒç°ãªãäžåç£ã»ã¯ã¿ãŒïŒãªãã£ã¹ã忥ãäœå® ãç£æ¥ïŒã«ç¹åããREITãå«ããŸãã
- ç£èŠãšãªãã©ã³ã¹ïŒããŒããã©ãªãªã®ããã©ãŒãã³ã¹ãç¶ç¶çã«ç£èŠããæãŸããè³ç£é åãç¶æããããã«å®æçã«ãªãã©ã³ã¹ãè¡ããŸããä¿æè³ç£ã宿çã«è©äŸ¡ããå€åããåžå Žç¶æ³ã«é©å¿ããŸãã
ã°ããŒãã«REITãšãã®æŠç¥ã®äŸ
REITã®ã°ããŒãã«ãªç¯å²ã説æããããã«ã倿§ãªæŠç¥ãåæ ãã以äžã®äŸãèããŠã¿ãŸãããã
- ã¢ã¡ãªã«ã³ã»ã¿ã¯ãŒã»ã³ãŒãã¬ãŒã·ã§ã³ïŒç±³åœïŒïŒéä¿¡å¡ã®ææã»éå¶ã«ç¹åããäžçäžã®ã¢ãã€ã«ããŒã¿ãšæ¥ç¶æ§ã®éèŠå¢å ã«çŠç¹ãåœãŠãŠããŸãã
- ã°ãããã³ã»ã°ã«ãŒãïŒãªãŒã¹ãã©ãªã¢ïŒïŒã°ããŒãã«ãªãã¬ãŒã³ã¹ãæã€ç£æ¥çšREITã§ãäž»èŠãªçµæžããã«ãããç©æµã»å庫æœèšã«çŠç¹ãåœãŠãŠããŸãã
- ãŽã©ããŽã£ã¢ïŒãã€ãïŒïŒãšãŒãããã®äœå® ç©ä»¶ã«çŠç¹ãåœãŠãå€§èŠæš¡ãªäœå® REITã§ããšãŒãããã®äœå® åžå Žãžã®ãšã¯ã¹ããŒãžã£ãŒãæäŸããŠããŸãã
- ã¡ãŒãã«ããªãŒã»ããžã¹ãã£ã¯ã¹ã»ãã©ã¹ãïŒã·ã³ã¬ããŒã«ïŒïŒã¢ãžã¢å€ªå¹³æŽå°åã®ç©æµæœèšã«æè³ããREITã§ãå°åã®è²¿æãšé»ååååŒã®æé·ãæããæ©äŒãæäŸããŠããŸãã
REITæè³ã®çšåäžã®åœ±é¿
REITã«ã¯ãæè³å®¶ãçè§£ããå¿ èŠã®ããç¹å®ã®çšåäžã®åœ±é¿ããããŸãããããã«ã¯ä»¥äžãå«ãŸããŸãã
- é åœïŒREITã®é åœã¯éåžžãéåžžæåŸãšããŠèª²çšãããŸããã€ãŸããæè³å®¶ã®éåžžæåŸçšçã§èª²çšãããŸãããã ããå Žåã«ãã£ãŠã¯ãREITã®é åœã¯ããäœã驿 Œé åœçšçã§èª²çšãããããšããããŸãã
- ãã£ãã¿ã«ã²ã€ã³ïŒREITæ ªã®å£²åŽã«ãããã£ãã¿ã«ã²ã€ã³ã¯ãä»ã®æè³ãšåæ§ã«ä¿ææéã«åºã¥ããŠèª²çšãããŸããçæãã£ãã¿ã«ã²ã€ã³ïŒ1å¹Žæªæºä¿æïŒã¯æè³å®¶ã®éåžžæåŸçšçã§èª²çšãããŸããé·æãã£ãã¿ã«ã²ã€ã³ïŒ1幎以äžä¿æïŒã¯äžè¬çã«äœãçšçã§èª²çšãããŸãã
- çšåç³åïŒæè³å®¶ã¯ãREITæè³ããã®é åœãšãã£ãã¿ã«ã²ã€ã³ã確å®ç³åã§å ±åããå¿ èŠããããŸãã
- çšå¶äžã®åªéæªçœ®ïŒREITã¯äžè¬çã«åçãæè³å®¶ã«éå ããŸããäžéšã®çšå¶åªéå£åº§ïŒéè·åå®ãªã©ïŒã¯ã远å ã®ã¡ãªãããæäŸã§ããŸããã¬ã€ãã³ã¹ã«ã€ããŠã¯çšåã¢ããã€ã¶ãŒã«ãçžè«ãã ããã
çµè«
äžåç£æè³ä¿¡èšã¯ãäžåç£åžå Žã«åå ããããã®é åçãªæ¹æ³ãæäŸããã€ã³ã«ã ã²ã€ã³ã忣æè³ãã€ã³ãã¬ä¿è·ã®å¯èœæ§ããããŸããç°ãªãçš®é¡ã®REITããã®å åšãããªã¹ã¯ããããŠå©çšå¯èœãªã°ããŒãã«ãªæ©äŒãçè§£ããããšã¯ãæ å ±ã«åºã¥ããæè³æ±ºå®ã«ãšã£ãŠäžå¯æ¬ ã§ããæè³å®¶ã¯ãREITãããŒããã©ãªãªã«çµã¿èŸŒãåã«ãæè³ç®æšããªã¹ã¯èš±å®¹åºŠã財åç¶æ³ãªã©ãåã ã®ç¶æ³ãæ éã«è©äŸ¡ããå¿ èŠããããŸããæ éãªèª¿æ»ãæŠç¥çãªè³ç£é åãç¶ç¶çãªç£èŠãéããŠãæè³å®¶ã¯REITã®ã¡ãªãããæŽ»çšããŠãååã«åæ£ããããæœåšçã«ããããã®ããæè³ããŒããã©ãªãªãæ§ç¯ããããšãã§ããŸãã
å 責äºé ïŒãã®ããã°æçš¿ã¯æ å ±æäŸã®ã¿ãç®çãšããŠãããéèã¢ããã€ã¹ãæ§æãããã®ã§ã¯ãããŸãããæè³å€æã¯ãåã ã®ç¶æ³ã«åºã¥ããè³æ Œã®ãããã¡ã€ãã³ã·ã£ã«ã¢ããã€ã¶ãŒãšã®çžè«ã®äžã§è¡ãå¿ èŠããããŸãã