Chapter 1439
Words:2536Update:22/09/06 00:03:10
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Shanghai Housing with Common Property Rights Expansion Non-Permanent Residents Included
Property Rights/Insurance/Real Estate
According to reports, Shanghai will launch the seventh batch of applications for common property rights housing from the fourth quarter onwards. In this new round of applications, the coverage will be extended to non-permanent residents for the first time. The application conditions include: holding the Shanghai Residence Permit, accumulating 120 points, being married, not owning a house in the city, having paid social insurance or individual income tax in the city for 5 years or more, and meeting the income and property access standards for jointly owned housing, etc.
This expansion will focus on the new citizens who have started a business in Shanghai and have stable employment. They will contribute to Shanghai's economic and social development in the long run. The supply will be based on separate planning, total quantity control, supply based on demand, and supply in turn.
Yan Rong, Deputy Director of Shanghai Real Estate Research Institute: This is an expansion based on further increasing the supply. Therefore, it will not affect the application for common property rights housing by the registered residents in Shanghai. Shanghai will select some eligible districts to carry out a pilot program for the supply of common property rights housing for non-permanent residents. After the evaluation is completed, it will be rolled out to the whole city.
(Editor: Yang Yinyin)
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