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China to solve housing problems in big cities through rental market

Updated: Dec 21,2020 20:31    Xinhua

BEIJING — China will determinedly develop rental housing in 2021 under efforts to solve prominent housing problems in big cities, the country's housing regulator said on Dec 21.

To address the concerns of new city dwellers and young people, especially those engaged in basic public services, China will promote the development of rental housing by increasing government-subsidized housing projects and ensuring the supply of public rental houses, the Ministry of Housing and Urban-Rural Development said at a conference.

Cities with a net population inflow should give priority to developing rental housing, the ministry said.

The move came after China vowed to tackle prominent housing problems in large cities at a tone-setting economic meeting that concluded on Dec 18, listing the development of rental housing as one of its key economic tasks for 2021.

The rental housing market will be further regulated and developed, with efforts made to cultivate professional and large-scale rental agencies and establish rental service platforms, according to the ministry.

It also underlined efforts to implement a long-term mechanism in the housing market and promote the steady and sound development of the sector.

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