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China aims to strengthen rental housing market amid property downturn

China aims to strengthen rental housing market amid property downturn

Posted on January 15, 2024   |  

Beijing commits to providing more financial support to China's home rental market in 2024 amidst a prolonged slump in the residential property sector.

The People's Bank of China and the National Administration of Financial Regulation plan to increase the availability of rental units, particularly in large cities where home prices are beyond the reach of many young workers.

The primary objective is to rejuvenate existing housing stock, effectively increasing the availability of both affordable and commercial rental housing.

Facing a continued downturn in the housing market, Beijing introduces a "three major projects" model, concentrating on constructing affordable housing, renovating urban villages, and establishing emergency public facilities to serve as a foundation for market recovery.



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