China's housing rental market estimated at 1.3 trln yuan in 2017

Updated 2018-02-17 14:21:04 Xinhua

China's housing rental market was estimated at 1.3 trillion yuan (about 205 billion U.S. dollars) in terms of revenue last year, according Liu Zhifeng, head of China Real Estate Association.

With a government campaign to improve the rental market, China is seeing a steady increase in the supply of rental houses, Liu said at a recent seminar.

However, problems such as unbalanced supply and demand and insufficient regulation still exist, he pointed out, calling for the introduction of a detailed regulation on housing rental and improved standards for management of the sector.

Qin Hong, head of a research center under the Ministry of Housing and Urban-Rural Development said the key to addressing the weak links in the market is through legislature to better protect both the interests of the owners and tenants.

In 2017, China's property market, once deemed a major risk for the broader economy, cooled down amid tough curbs such as purchase restrictions and increased downpayment requirements as the government sought to rein in speculation.

With the market holding steady, Chinese authorities aim for a "long-term mechanism" for real estate regulation and a housing system that ensures supply through multiple sources and encourages both housing purchases and rentals.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 15 2018 21:47:15

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 15 2018 21:47:15

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 15 2018 21:47:15

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords