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REIT и ЗПИФ как альтернативные инвестиции в недвижимость
This article examines REITs (Real Estate Investment Trusts) and their Russian counterparts, closed-end real estate mutual funds (ZPIFs). It examines the advantages and risks of investing in such funds, REIT classifications, international practices, and the operating characteristics of Russian ZPIFs. Comparative tables are provided illustrating the differences between foreign REITs and domestic ZPIFs, as well as how interest rates influence REIT returns. It concludes that investing in REITs is an effective way to incorporate real estate assets into an investment portfolio, offering potentially high returns and a stable income stream despite the existing risks. It is noted that Russian ZPIFs are not very popular among private investors due to high minimum investment amounts, limited accessibility, and insufficient public awareness of this instrument