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Gov't to allow subsidies for low-income tenants

CCTV.com

05-06-2016 03:31 BJT

China's top decision maker, the State Council, on Wednesday said it would roll out incentives for low-income people to rent homes. Analysts say the move could reduce the country's stock of unsold flats. The government would pay low-income housing allowances to encourage people to rent on the open market.

Migrant workers and young professionals such as teachers would also qualify for the subsidies. Analysts say the measure would reduce the number of unsold apartments in smaller cities, easing the pressure of lowering inventories.

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