Shenzhen city to sharply increase residential land supply this year to rein in soaring home prices

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The city of Shenzhen said it plans to increase land supply for residential housing by 24 per cent this year, with 60 per cent of it for public housing including rental homes, in a move to rein in a soaring home prices.

Shenzhen plans to add 1,130 hectares of land this year, down 9 per cent from the actual land supply in 2020, according to the city's planning and natural resources authorities on Sunday. However, a third of the land, or 363.3 hectares of the land, is meant for residential purposes, rising 24 per . . .

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