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 . . .
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