National Standing Committee: Determine the policy of accelerating the development of affordable rental housing

“With the acceleration of the urbanization process and the expansion of the floating population, the housing difficulties of new citizens and young people such as migrant workers and newly employed college students have become increasingly prominent.” Premier Li Keqiang said at the State Council executive meeting on June 18. , “We must accelerate the development of affordable rental housing to better guarantee the basic housing needs of these groups.”

The meeting is confirmed on the day Accelerate the development of affordable rental housing policies to alleviate housing difficulties for groups such as new citizens and young people.
Li Keqiang pointed out that vigorously developing affordable rental housing is an important measure to improve the housing security system.
“Practice has proved that over the years, the promotion of large-scale shantytown renovation and other affordable housing measures has not only improved the living conditions of people with housing difficulties, but also played a positive role in promoting the stable and healthy development of the real estate market.” The Prime Minister said.
Li Keqiang said that accelerating the development of affordable rental housing will strongly support the healthy development of urbanization. He clearly requested that the main responsibility of the city government should be implemented, market forces should be encouraged to participate, financial support should be strengthened, and the supply of small-sized affordable rental housing with rents below the market level should be increased.
At the meeting, it was determined that large cities with net population influx can use collective operating construction land and enterprises and institutions’ own land to construct affordable rental housing, and allow the conversion of idle and inefficiently used commercial office buildings and factories as guarantees. Sexual rental housing. From October 1st, housing leasing companies will apply the simple tax calculation method for renting houses to individuals, and pay VAT at a rate of 5% and 1.5%; for enterprises, institutions, etc., renting houses to individuals and specialized large-scale housing leasing companies , Real estate tax is levied at a reduced rate of 4%.