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As speculation is reined in, homes become costlier, but not by much--China Economic Net
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From:ChinaDaily | 2021-05-27 09:51
Credit rating system needed for enterprises to reduce, prevent business risks
The long-term rental housing sector is entering a boom with its market scale expanding to the trillion-yuan level, and the country s latest guideline on rental housing will provide policy support for guaranteeing the sector s healthy development, experts said.
China s existing rental housing market currently has a total asset value of some 500 billion yuan ($77.75 billion).
The central government has made it clear that a certain amount of residential land supply will be set aside for rental housing development during the 14th Five-Year Plan period (2021-25), which is expected to add more than 500 billion yuan in new assets to the sector in the coming five years, according to industry experts.
China Pledges to Tackle Housing Problem in Biggest Cities
Bloomberg 3/5/2021
(Bloomberg)
China pledged to solve the housing problem in large cities at its top legislative session, as monetary loosening after the pandemic spurred a rush to real estate in the biggest hubs, pushing home affordability there to the worst ever.
“We will address prominent housing issues in large cities,” Premier Li Keqiang told the National People’s Congress in Beijing on Friday. “We will make every effort to address the housing difficulties faced by our people, especially new urban residents and young people.”
Li repeated President Xi Jinping’s mantra that houses are “for living in, not for speculation” in the key report, signaling that policy makers may maintain a tight rein on the bubble-prone sector. “We will keep the prices of land and housing as well as market expectations stable,” he said.
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