Caixin
Sep 21, 2017 04:52 PM
ECONOMY

Xiongan Cheap Housing Plan Aims to Curtail Speculation

The Xiongan New Area's local authority plans to boost the construction of affordable rental properties for newcomers and establish a point-based system to determine which migrants will be qualified to purchase these homes. Above, Rongcheng county is one of three counties in Hebei province that comprise Xiongan. Photo: Chen Weixi/Caixin
The Xiongan New Area's local authority plans to boost the construction of affordable rental properties for newcomers and establish a point-based system to determine which migrants will be qualified to purchase these homes. Above, Rongcheng county is one of three counties in Hebei province that comprise Xiongan. Photo: Chen Weixi/Caixin

(Beijing) — As China’s national government tries to drive forward the development of the Xiongan New Area economic zone, it has moved to pre-emptively solve a problem plaguing the residents of China’s biggest cities: the cost of housing.

The Xiongan local authority plans to boost the construction of affordable rental properties for newcomers, according to an article published on the area’s official WeChat account Tuesday. The authority will also establish a point-based system supported by big-data technology to determine which migrants will be qualified to purchase these homes.

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