Guangzhou continues to break stereotypes. The provincial capital is not known for its natural beauty, or its varied and abundant lifestyle options for young people. Neither, for that matter, does it compare to Shenzhen for cool tech jobs. And yet, it is the country’s second-most popular destination for university graduates, after Shanghai. And this is even though its rental costs are the country’s highest as a percentage of income.
Guangzhou’s rent-to-income ratio of 32.9% for university graduates is apparently no barrier, according to a report from the online property giant, Beike. This is largely due to its “abundant employment opportunities and convenient living environment”.
Continue reading Guangzhou mostly costly, yet popular for graduates
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.
Read more in Chinese.