Shenzhen plans to promote shared property housing, which will be sold at a 50% discount on the market price

On January 17, the Housing and Urban-Rural Development Bureau of Shenzhen City issued the “Shenzhen Co-owned Housing Management Measures (Draft for Comment)”, which proposed that the sales price of co-owned housing should be determined according to about 50% of the market reference price at the time of land transfer. The share of property rights shall be determined according to the ratio of the average sales price of the project to the market reference price, which shall not be less than 50% in principle. Shared property housing implements closed transfer of property rights. From the date of implementation of these measures, the construction of affordable commercial housing will no longer be arranged. | Related Reading (Brokers China)

thomas iron egg

Shared property housing is not a new thing. As early as 2017, the first joint property project in Beijing was put on sale, with 50% government ownership. According to official data, by the end of 2021, Beijing has raised about 83,000 sets of joint property houses, and the share held by individuals ranges from 50% to 85%.

From the perspective of satisfying living needs, shared property housing can indeed lower the threshold for home buyers in proportion, and realize the purpose of “home ownership”. But from another point of view, this kind of house cannot be listed for trading, and it takes a long time to wait for the purchase of all property rights or even is not allowed, etc. The liquidity, financial attributes and appreciation space are greatly reduced.

In addition, due to limited profit margins, many developers cut corners and materials. As a result, the quality of this type of housing is generally not comparable to that of commercial housing in the same area. There are even problems that some supporting schools cannot be consistent with commercial housing. The attractiveness is greatly reduced, and many people say that they will not buy a shared property house unless they have to.

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