Shenzhen has released its housing plan for 2021, which shows a surge in addition of new units into the market this year: 60,000 commercial flats, 40,000 public (subsidized) flats, and 100,000 rental units (rooms).
Hong Kong, by contrast, plans to have around 7,000 new units on the market this year.
The plan for Shenzhen shows that 149.3 hectares of land for commercial housing will be released into the market this year, of which 58.3 hectares will be for new supply and 91 hectares will be reserved for urban renewal.
The plan envisages approving applications for commercial housing of 6 million square meters, or about 60,000 units. This would include flats approved for pre-sale.
Public housing will cover 214 hectares of land, including 74 hectares for new supply, 19 hectares for renewal and reserve land, 81 hectares for the demolition and reconstruction of old residential areas (shanty town reconstruction), and 40 hectares for other (including industrial reform insurance). This will see around 40,000 units come onto the market.
Rental housing will cover 37 hectares of land as the city plans to provide 100,000 rental housing units (rooms).
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