China's top-tier city Shenzhen is considering a rent control capping annual rent increase at 5 per cent among certain residential projects, in a move to curb surging rent in the city , according to the state-run Securities Times.
The residential projects to be included in the program, or the so-called "rent stabilisation apartments", are residential development projects that are built and operated by developers for rent only.
The pilot project will be launched early 2019 offering 248 units of apartments with controlled rent.
The move comes after the surging rent in the city is sparking public complaints . . .
Don't let random information shape your understanding of China market. You need a timeline dedicated to the huge market.
To subscribe, buy us a cup of coffee every week!
Don't worry! Cancel before the free trial ends and you won't be charged.
How do we work?
From 8 am to 10 pm every trading day, we closely monitor news and views that have potential to move the markets in mainland China and Hong Kong and have the value to help you understand the economy and the markets. We post the real-time information on the member-only Wire Service, with details and data you don't see elsewhere!
During the weekend, we summarize the most important stories in a newsletter sent directly to your inbox so that you can get a big picture of what happened in China markets in the week.