Property in­ven­tory to be re­duced

China Daily (Canada) - - NEWS CAPSULE -

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.

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