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Friday, August 23, 2024

China Vows to Quicken Buying Unsold Homes for Public Housing

 

  • Part of latest effort to end the nation’s property slump
  • Will also step up renting and selling of public housing units

China’s housing regulator pledged to swiftly implement a program to purchase unsold apartments and turn them into affordable housing, its latest effort to cushion a record property slump.

The government will also push forward renting and selling public housing units as soon as possible when conditions are right, Vice Minister of Housing and Urban-Rural Development Dong Jianguo said in a briefing in Beijing on Friday. The ministry didn’t unveil a volume target.

https://www.bloomberg.com/news/articles/2024-08-23/china-vows-to-accelerate-buying-unsold-homes-for-public-housing

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