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Guangzhou boosts rent market to curb property prices

Xinhua | Updated: 2017-07-19 13:48

Guangzhou boosts rent market to curb property prices

The Canton Tower (left) and various skyscrapers along the Pearl River are pictured in Guangzhou, South China's Guangdong province, on May 31, 2014. [Photo/VCG]

GUANGZHOU — China's economic powerhouse Guangzhou will give tenants equal rights to education resources as homeowners, quashing a former rule.

The regulation is part of a larger plan to increase the number of renters and curb high-flying property prices.

In many cities across the country, property is more expensive in areas around good schools. The right to attend these schools, however, is limited to the offspring of homeowners, rather than tenants.

"Improving the rental market is an important part of housing reform and improving people's lives. It is part of Guangzhou's long-term residential plan," said an official with the Guangzhou Housing and Urban-Rural Construction Committee.

Under the new regulation, tenants who hold a Guangzhou "hukou" (household registration), or a skilled worker certificate, will be able to enroll their children in elementary and middle schools.

Sun Bushu, deputy director of South China City Research Association, called the regulation "commendable" as it addresses issues in the property market and will help attract more people with skills to the city.

However, the fact that education resources are lacking remains unchanged, and it is not possible to guarantee complete equal rights for everyone, Sun said.

There may also be risks that rents around very good schools will soar, he said.

In the work plan, Guangzhou has also promised to assign more houses for rent and allow estate agents to renovate old apartments and dilapidated buildings.

 

 

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