Beijing issues construction guideline for joint ownership housing

0 Comment(s)Print E-mail Xinhua, September 23, 2017
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Beijing's housing commission on Saturday issued a construction guideline on joint ownership housing, which will go into effect from Sept. 30.

China's housing authority has endorsed a pilot joint ownership housing scheme in Beijing and Shanghai, as part of government efforts to stabilize the property market.

A total of 250,000 such homes will be provided in Beijing in the next five years.

According to Beijing's guideline, the houses to be built in the city's six central districts shall be no bigger than 90 square meters. The commission requires housing developers to consider families with two children, as well as elderly people, in housing design.

From Aug. 30, the commission started consulting public opinion on the design of the housing and the supply of necessary public facilities.

Based on public suggestions, the guideline requires communities to be equipped with barrier-free facilities and public squares.

The government has made restrictions on who can buy the houses. For example, buyers and their families cannot already own homes, single people making purchases must be at least 30 years old, and a family can only apply for one such home.

The scheme is in line with the view of central authorities that "houses are built to be lived in, not for speculation," and should make home prices cheaper by allowing buyers to share property rights with the government.

Beijing's guideline requires that buyers do not change the interior decoration of the houses for five years.

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