Better housing plan to help attract talent

and encourage both house purchases and rentals.

“Houses are built for living in, not for speculation,” Ying said, quoting President Xi Jinping’s comment on the country’s housing market.

Tang Xiaoling, deputy general manager of Shanghai Land Group and deputy to Fengxian district, said, “The rental housing community aims to provide homes for young professionals who come to the city and will be paired with commercial zones and business incubators. Their locations will be close to transportation hubs.”

Different from subsidized public rental housing, there will be no requirements for tenants’ income but preference will be given to people working in universities and high-tech zones, she said.

“We will likely build a rental platform with universities and high-tech parks and set aside a portion of the rental houses for them,” Tang said, adding that the plan is still in its early stages.

Besides building new rental communities, existing homes from small landlords and idle space held by government-affiliated institutions and Stateowned companies is the other source for rental housing.

“Some idle factories or small shabby hotels will be renovated and turned into rental housing under unified management,” said Ru Guoming, director of the Xuhui district housing authority, also the district deputy to the congress. “It can thus better utilize idle resources and clear potential safety hazards.”

Ru also said the rental price will be largely market-driven, but rental policies will be tilted to employees in companies with great demand for talent.