Shenzhen’s high housing prices have been a major focus recently as the city is well aware of the need to attract and retain “talents”. The government has now released six measures to increase the supply of rental apartments and regulate the leasing market.
Basically, the government is encouraging landlords and/or leasing companies to join its leasing service platform. It is offering tax incentives to do so, such as VAT rebates.
Shenzhen is also working on supply, offering more public rentals. These account for 30% of newly-added commercial housing. Moreover, more land to build rental apartments are being assigned to industrial parks. Regulations to restrict the rental fees and combat illegal leasing have also been introduced.
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