China’s government plans to put a lid on rental charges in the nation’s cities to rein in runaway housing costs, after years of draconian crackdowns have failed to make urban housing more affordable for the millions of people who enter the job market.Rental charges in urban areas will not be allowed to rise by more than 5 per cent in a year, the Ministry of Housing and Urban-Rural Development announced ahead of a briefing themed “Housing for All” in Beijing.“New immigrants to our cities and…
Source : South China Morning Post
Read more…China to cap annual urban rent increases at 5 per cent to rein in runaway prices and make homes affordable to job seekers
