Hunan: Support the pilot application of REITs for affordable rental housing projects

Recently, the Hunan Provincial Department of Housing and Urban-Rural Development issued a notice on accelerating the development of affordable rental housing.

According to Guan Guan New Media, the notice states that affordable rental housing mainly solves the housing difficulties of eligible new citizens, young people and other groups, mainly small units with a building area of ??no more than 70 square meters. , the rent is lower than the market rent for rental housing of the same quality in the same location. Each city and state must classify and determine the specific conditions for entry and exit, the specific area of ????small units, application review workflow and other management requirements based on different methods of raising and constructing affordable rental housing.

Changsha City, Zhuzhou City, Xiangtan City and Yueyang City are key cities for the development of affordable rental housing. They must be based on the size of the permanent population, the distribution of population inflows, public service facilities, transportation and other conditions. Combined with the conditions of urban rail transit stations and key urban construction areas, we must adhere to the matching of supply and demand, proceed from reality, implement city-specific policies, and adopt various methods such as new construction, reconstruction, renovation, and rental subsidies to vigorously develop affordable rental housing. Focus on supporting the construction of supporting facilities in industrial parks, promoting the development of industrial parks, and achieving a balance between employment and housing.

Other cities can renovate idle and inefficiently used non-residential housing stock such as commercial offices, hotels, factories, warehousing, scientific research and education according to actual needs, and construct supporting facilities in industrial parks in a scientific and reasonable manner. Develop affordable rental housing. Key development cities can be adjusted in a timely manner according to the actual situation. Other cities that are not included in the key development cities can be determined as key development cities based on local population size, industrial development, actual needs, etc. and upon approval by the Provincial People's Government.

The notice pointed out that we should actively apply for special bonds for affordable rental housing and support local governments in coordinating relevant special funds to develop affordable rental housing. Banking financial institutions should increase credit support for the construction and operation of affordable rental housing. Support qualified affordable rental housing projects to apply for the pilot project of real estate investment trust funds in the infrastructure field.

Support professional and large-scale housing rental enterprises in the construction, operation and management of affordable rental housing. Support them in exploring and forming a standardized, healthy and sustainable business model. All localities should establish a rental pricing mechanism for affordable rental housing, implement monitoring and guidance on the rent of affordable rental housing projects, and regularly publish reference prices for rents in surrounding markets. The rent of affordable rental housing shall be dynamically adjusted, and the adjustment period shall in principle not exceed 2 years.