Property inventory to be reduced
China will roll out measures to reduce its property inventory and stabilize its ailing housing market, according to a statement released after a key policy meeting.
Attendees of the Central Economic Work Conference agreed that rural residents relocating tour ban areas should be allowed to register as city residents, which would enable them to buy or rent property.
This will increase the number of home buyers.
A low- rent public housing program will cover those without household registration,according to the statement.
Individuals and organizations will be encouraged to buy-to-rent properties, and the government will support rental enterprises.
Property developers will also be encouraged to change marketing rules and “properly” reduce home prices.