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在线翻译:
szdaily -> Business -> 
Govt. moves to cap home rental cost in cities
    2021-09-02  08:53    Shenzhen Daily

THE government has said the cost of renting a home in cities should not rise by more than 5 percent a year — its first move to cap rental prices and part of efforts to provide more affordable housing.

Demand for rental housing has concentrated mainly in China’s largest cities, which offer better-paying jobs and the most employment opportunities, especially to fresh college graduates.

Rental housing is also popular among millennials unable to buy homes.

“New urban residents and young people have worked for a relatively short time and have little income, so their ability to buy homes and pay rent is weak,” Vice Housing Minister Ni Hong said Tuesday.

“In big cities, 70 percent of new residents and young people rent homes, but homes that are more affordable are more remote and properties in more desirable locations are more expensive, posing practical difficulties,” Ni told a press conference that followed guidance on the cap by the housing ministry.

Home rental prices fell 0.35 percent in August from a month earlier after a seasonal peak in early summer, according to data released yesterday by Zhuge House Hunter, one of China’s largest independent real estate research firms, with tier-1 cities like Beijing leading the fall.

The decline suggests that the pool of homes for rent has further deepened. Beijing and Shenzhen began implementing measures this year to boost the supply of rental properties, heeding the government’s call to provide more affordable housing.

In recent months, big cities have also issued draft home leasing rules seeking to better protect renters’ rights, including bans on landlords demanding deposits equivalent to more than one month’s rent.

Authorities will also crack down on abusive practices by real estate firms and online property platforms such as overcharging renters.

The rules are part of a sweeping cleanup of the property market over the next three years to rid what the government describes as irregularities that have stoked speculation and pumped up home prices.(SD-Agencies)

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