Shenzhen plans rules on joint residential ownership

Shenzhen, one of the six cities picked in April to further test individual-government joint home ownership, is to unveil detailed rules this month governing the trial program, which analysts said will alleviate pressure on the property market.

Local media reports quoted the Shenzhen government as saying that an affordable housing project in the city will adopt the new ownership structure during the second half of this year.

Another plan is being considered under which ownership would be split three ways among home buyers, government and enterprises, the reports said.