Public rentals fill gap in costly housing market
Print Edition
A new round of public low-cost rental housing came on line this month, with 422 apartments in the Jinghuafang neighborhood expected to ease accommodation difficulties for young people on lower incomes.
The apartments were quite popular at a housing fair recently held at the Minhang District Security Housing Rental Center. Most of the potential renters were newcomers to the city, working in white-collar jobs but earning too little to afford to buy a home.
A renter surnamed Ma, who came from east China’s Jiangxi Province, said he has been working in Shanghai for about five years and has a family here. He said he compared five public rental neighborhoods across the city before finally choosing Jinghuafang.
“The rooms are comfortable and the neighborhood has plenty of greenery,” said Ma. “Besides, the units are conveniently located next to the Outer Ring Elevated Road.”
Multi-level rentals
Jinghuafang provides various levels of rentals, from one to three bedrooms. Rents, ranging from 1,700 yuan (US$276) to 3,000 yuan a month, are about 40 percent lower than standard market prices.
The apartments are decorated and equipped with basic furniture Residents can also rent electric appliances. Located on Zhumei Road, the neighborhood is about 10 kilometers from downtown.
The Minhang Public Renting Housing Operation Co said the apartments are available to people who have steady jobs and are paying social security taxes.
“Of course, we take measures to ensure the renters live in the apartments rather than sublet them to others,” said Ren Qianjun, general manager of the company. “We periodically inspect the apartments.”
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