SHENZHEN will build 20,000 youth apartments over three years to provide low-priced and high-quality accommodation for fresh graduates who are newcomers to Shenzhen, the Shenzhen Evening News reported yesterday.

    The city’s government and municipal youth league committee partnered with the Shum Yip Group Ltd., a Shenzhen-based property developer, to launch the project yesterday, which was Chinese Youth Day. It is aimed at solving accommodation problems for fresh graduates in Shenzhen.

    According to the project, 20,000 youth apartments will be constructed and put into use by the end of 2018. These apartments will be offered to fresh graduates who have worked in Shenzhen for less than three years.

    A youth league committee’s officer said these apartments will be transformed from old dormitories and factories. Public lectures, group activities and career support services will be offered to tenants, while public space such as kitchens, laundry rooms and youth clubs will be available.

    The rent of these apartments will be lower than the average rent on the market as the government will provide subsidies to some of the housing properties.

    Official data showed that there are over 80,000 fresh graduates coming to Shenzhen each year. Huang Wei, general manager of Shum Yip Group Ltd., said half of these young people’s salaries went to accommodation, and many lived in urban villages or old dormitories with poor living conditions.

    “Climbing living expenses have undermined Shenzhen’s appeal to fresh graduates,” Huang said, adding that a housing project directed at fresh graduates is needed to reduce the financial burden for these newcomers.

    According to a youth index report released by Tencent on Tuesday, Shenzhen became the “youngest city” in China with a youth index of 89 and the young population’s net growth was 22.53 percent, a Daily Sunshine’s report said. (Zhang Yang)