SHENZHEN will offer 650,000 commercial and government-subsidized apartments to residents by 2020 as a step to enlarge the housing supply and enhance people’s living quality in the city, the Shenzhen Economic Daily reported yesterday.

    According to the city’s urban planning, land and resources commission, over 650,000 apartments will be available in Shenzhen during the 13th Five Year Plan from 2016 to 2020, including 300,000 new commercial apartments and 350,000 government-subsidized apartments.

    In addition, the city will start constructing another 350,000 commercial apartments and 400,000 government-subsidized apartments before 2020. The commission’s spokesperson said the project is meant to enlarge the city’s housing supply, optimize the housing market’s structure and improve residents’ living standards.

    The spokesperson said the city plans to increase the land supply for accommodations along Metro and railway lines, as well as to enlarge residential land in the eastern and northern parts of Shenzhen.

    Currently, a land area of 25 hectares is reserved for government-subsidized housing projects, which are mainly located in places with convenient transportation, such as areas along Metro lines or tram stations in Longhua New Area.

    The spokesperson said the government will optimize the city’s housing space by taking regional industrial status, transportation and public facilities into consideration. The government will also introduce incentives and supporting policies to carry out urban renewal projects and enlarge the housing supply for professional talent.

    In a bid to provide more affordable housing for people with low income, the city government will optimize the housing supply system by constructing rental apartments and offer housing subsidies to people in need as a step to tame the property market. (Zhang Yang)