“Shanghai res­i­dents are now able to de­posit their home in the bank.”

Global Times – Metro Shanghai - - PULSE -

China Con­struc­tion Bank launched a new hous­ing prop­erty de­posit busi­ness in Shanghai on Thurs­day, Knews re­ported. Prop­erty own­ers in Shanghai can now lease their home to a bank and re­ceive a lump-sum long-term rental fee. Af­ter eval­u­at­ing rental rev­enue based on the lo­ca­tion, dec­o­ra­tion and size of the home, the bank will of­fer a price. If both sides agree on the price, the bank will pay long-term rent to the owner and man­age the home from 1 to 3 years. Some prop­erty own­ers ex­pressed their con­cerns that the bank may make a profit from an an­nual in­crease of the lease and oth­ers worry that it will be in­con­ve­nient if they need to take back their home in an emer­gency.

Il­lus­tra­tion: Chen Xia/GT

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