Bureau to Increase Supply of Small Subsidized Homes

Bureau to Increase Supply of Small Subsidized HomesThe city housing authorities are planning to increase the supply of small subsidized homes on the rental market in the city along with the plans to decrease down payment requirements for these subsidized homes as the part of the city’s efforts in assisting new graduated and professional in looking for homes. Housing authorities have also adjusted their requirements for public rental housing applicants.

Interested applicants for the government subsidized rental homes should be permanent residents of Shenzhen, is 18 years of age and most importantly made social security payments at least three years. Requirements for new college graduates are looser and young professional that have bachelor’s degree or have qualified professional certificates can apply for the public housing just by showing their Shenzhen hukou along with proof of one year payments in their social security.

The city housing plans are asking for public rental rooms with now less that 30 square meters accounting for around 50 percent of the public rental housing. The increase in proportions will comply with the housing policies that states new unmarried college students are allowed to rent a subsidized room only no more than 35 square meters. Public rental homes larger than 50 square meters are shared by around 2 recent college graduates.

The municipal housing and construction bureau states that the locations of subsidized housing are looking to areas outside of the originally plan special economic zone in the city namely Futian, Luohu, Nanshan and Yantian districts because of the limited supply of land in downtown areas. The bureau said subsidized housing found inside the original economic zone will serve renters and public rental housing must be found along the Metro lines benefitting commuters.

The bureau continues to give housing subsidies to all qualified college graduates and can get a monthly subsidies of 200 yuan to 1,000 yuan for three years after they have graduated.

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