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66% of Shenzheners live in rented flats

2018-May-31       Source: Szdaily.com

Roughly two-thirds of Shenzhen residents dwell in rental apartments, said an official with the urban planning and land resources authority at a seminar regarding the development of Shenzhen’s rental housing market Wednesday, sznews.com reported.

Roughly two-thirds of Shenzhen residents dwell in rental apartments, said an official with the urban planning and land resources authority at a seminar regarding the development of Shenzhen’s rental housing market Wednesday, sznews.com reported.

The seminar was jointly organized by Shenzhen Municipal Housing and Construction Bureau, Shenzhen Municipal Urban Planning and Land Resources Committee and Shenzhen Rental Housing Office to address the existing problems, possible solutions and future trends of the city’s rental housing market.

According to an official with the committee, approximately 34 percent of Shenzhen residents are living in apartments they own, while the remaining two-thirds of Shenzheners are renting.

Shenzhen is one of the most dynamic rental housing markets in China. Initial statistics show that the city owns about 7.83 million rental apartments, making up 73.5 percent of all residential housing.

About 83 percent of the city’s rental housing is located in urban villages and industrial dormitories provided by employees.

In a bid to help rental housing markets grow healthily, the city has rolled out a few guidances and measures on regulating rental apartments.

At the end of 2017, the housing and construction bureau joined hands with relevant companies to launch an online management platform for rental apartments. The platform officially went online Jan. 1, 2018.

The platform stores information on around 90,000 rental apartments that are owned by the government, institutions or individuals. It is expected to provide better service for residents looking for rental apartments.

The platform recently launched a service that allows tenants to sign contracts with landlords online on the basis of their credit and without a deposit, according to the Shenzhen Economic Daily.

With advanced technologies like big data, virtual reality and facial recognition, the platform ensures tenants can find the apartments they favor without being swindled.

Currently, the housing and construction bureau is working on drafting a set of rules to manage the platform, which is expected to be released by the end of June. (Zhang Qian)

Editor: Monica Liu

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