Dongguan sets rules for affordable housing

Property | 30 Sep 2021

since the implementation of the principle that "housing is for living in, not for speculation" in the mainland, the government of Dongguan in Guangdong has increased the supply of affordable housing.

In addition, it also strengthened the regulation of the real-estate market earlier.

It plans to build residential projects in five towns with restricted property prices, land prices and buyers.

Qualified home purchasers can pay half the property price to get half the property rights, and the other 50 percent of rights are owned by the government-appointed agency.

After purchasing, buyers can still enjoy the same education, medical care, nursing, public accumulation and other services as ordinary residences but they have to wait for a few years and get approval from the municipal government before buying the other half at a discount.

The size of the flats is limited to 70 to 80 square meters, ranging from two-bedroom units to three-bedroom units with basic furnishing upon handover.

The first batch of units is allocated in a targeted way, and the second batch of units will be drawn publicly.

Qualified buyers, the spouse and the children living together must not own a property in the city and have no residential name change records for three years before application.

In addition, they need to have paid the pension in Dongguan for three years if they have registered their household in the city; five years if not.

Buyers need to meet one of the qualifications: college degree or above, skill qualifications of intermediate worker or above, or titles of assistant level or above.

After holding the property for a period of time, with the consent of the municipal government, the buyer can obtain full ownership.

For example, those who have held the real estate certificate for more than five years and have had their household registered in the city for more than three years can purchase the remaining half of the property rights at a 20 percent discount on the current market assessment price.

Buyers with a talent certificate "Guanxiang Card" can get a 30 percent discount, while those with a "Yulan Card" can get half off.



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