近年来，有不少房企开始尝试养老地产项目。但从操作层面来讲，一些房企进军养老地产更多的是想通过养老项目圈地。

In recent years，There are many room enterprises began to try endowment real estate projects。But from the operational level speaking，Some room into real estate enterprises more is to pension by endowment project enclosure。

　　按照国际经验来讲，养老地产项目一般倾向于“向小向精”发展，这主要是为了更好照顾和服务老年人衣食住行、防止过多老年人群聚集而导致服务质量下降，也是为了防止养老社区事件频发而得不到及时处理。

According to international experience speaking，Endowment real estate project general tend to“To small to fine”development，This is mainly in order to better care and service the old the basic necessities、Elderly people have gathered and prevent excessive in low service quality，Also in order to prevent endowment community events and can't get frequent handle in time。

　　但在现实中，开发商往往以养老地产为名头去拿地，在土地市场价格日益走高的市场背景下，养老地产或成为一些房企进行“圈地运动”的工具。从具体案例情况来看，比如一个养老地产只需要300亩土地，而开发商有可能拿地超过1000亩甚至更多，那么剩余的700亩做部分配套和住宅开发。其通过1000亩的圈地，从而实现养老地产项目的整体盈利。

But in reality，Developers often by endowment real estate head to take to fame，In the land market prices go high market growing background，Endowment real estate or become some room for enterprises“Enclosure movement”tool。Judging from the specific cases，For example a endowment real estate only need 300 mu of land，But developers may take to more than 1000 acres and even more，So the rest of the 700 mu do part of the supporting and housing development。Its through 1000 acres of enclosure，So as to realize the endowment real estate projects earnings overall。

　　另据笔者了解，全国范围内，大约有20~30家比较大的开发商进入到养老地产领域。招保万金只是其中一部分。总体来讲，进入的开发商还不是很多，但是，多数开发企业都开始以较小规模养老地产项目进行“试水”，以此来探索养老地产的盈利模式，建立以本公司特有的资源为基础的养老地产操作方式。

The other according to I understand，nationwide，About 20 ~ 30 stores larger developers into endowment real estate。Called the gold is just one part of it。generally，The developer of the into are not much，but，Most development enterprise began in small scale endowment real estate projects“Try water”，In order to explore the profit pattern of endowment real estate，The company set up special resource based endowment real estate operating mode。

　　地产商进入养老地产领域，相对于政府、慈善机构来讲，还比较浮躁，当纯养老地产还没有看得见的盈利模式时，这些开发商进入养老地产还是以追求“投资回报”和利润为主要目的。这些“投资回报”和利润来自哪里？当然不是纯养老地产项目部分，而是养老地产部分之外的住宅开发、商业配套的开发。然后通过住宅、商业配套的产品出售可以快速回笼资金，从而总体上实现项目的利润平衡，或者实现项目的总体的盈利。

Property developers into endowment real estate，Relative to the government、Charity speaking，Is blundering，When pure endowment real estate is not visible to the profit model，These developers into endowment real estate or in the pursuit“Investment returns”And profit for the main purpose。these“Investment returns”And profit from where？Of course not pure endowment of real estate projects，But real estate outside the part endowment housing development、The supporting business development。Then through the house、The supporting business products sell can quickly receivables，To achieve the project's overall profit balance，Or attain project overall profits。

　　养老地产似乎成为一种趋势，也有不少分析认为，养老地产的有效盈利模式并未找到，拿了地，长期运作下来的回报还有待考察。笔者认为，养老地产的有效盈利模式尚未找到，主要原因在于两点：

Endowment real estate seems to be a trend，There are many analysis thinks，Endowment property of effective profit model did not find，Took to，Long-term operation down return need more study。The author thinks that，Endowment property of effective profit model has not yet found，The main reason is that two points：

　　首先，土地和税收制度配合不到位。按照业内操作和市场普遍看法，养老地产应该获得政策的支持，只有政策支持了，地价相对比较便宜了，开发企业才有可能从开发养老地产项目中获益。而事实上，当前开发商在获得土地时，土地市场尚未明确规定养老地产用地性质。另外，养老地产配套及其附属设施也需要政府在税费上给予部分或全部减免，这样一来，作为长期性的经营性的项目，才不会因为沉重的税费负担而无法持续经营。

first，Land and tax system cooperate to be not in position。According to the operation and market common belief，Endowment real estate should get policy support，Only the policy support，Land price is relatively cheap，Development enterprise can be from the development of real estate projects benefit pension。And, in fact，The current developers in acquiring land，The land market has not been clearly provisions endowment real estate land properties。In addition，Endowment real estate supporting and affiliated facilities also need in the taxes to the government in part or all of reduction，so，As a long-term business projects，Don't because heavy tax burden and can't sustain management。

　　其次，养老地产涉及的运营服务体系没有统一的标准和操作规范。无论是养老地产服务的哪个产业链上，基本上各家都有各自的说法，主要表现在医疗护理服务、老年教育、安全、法律咨询、健康饮食等相关产业服务内容和质量也参差不齐，从“软件”角度来讲，还没有办法维持一个养老地产项目赢得市场普遍认可的运营标准和体系。

second，Endowment real estate involves operating service system does not have uniform standard and operation norm。Whether real estate services which industry chain of the aged，Basically houses all have their own story，Mainly displays in health care services、Old education、security、Legal advice、Healthy eating and related industry service content and quality also is uneven，from“software”Angle，There is no way to maintain a endowment real estate projects wins the market generally accepted operation standard and system。

　　因此，未来养老地产项目要长期运作，政府在政策及税费制度上应该提前构建，为市场提供相对比较合理的养老地产开发的市场进入门槛。这样一来，开发企业在进行操作时候，才会真正用心搞好养老地产项目经营，而非只是去追求短期内的投资回报和利润。

so，The future pension real estate projects to long-term operation，The government in the policy and tax and fee system should build on in advance，Provide the market with relatively reasonable endowment development of real estate market entry threshold。so，Development enterprises in operation time，Will really do well endowment real estate project management by heart，And not just to pursue the short-term return on investment and profit。