Banks, real estate firms join hands to provide high-quality housing
Experts and industry insiders say bank involvement in the rental market will fundamentally help solve excessive housing problems
In just one week, the Bank of China, China Construction Bank and China CITIC Bank have successively joined hands with real estate companies to develop solid, high-quality, long-term rental housing to enterprises across the country, the China Securities Journal reported.
The move followed a joint notice issued by the National Development and Reform Commission, Ministry of Construction and Development and nine other departments to establish a leasing trading platform.
The notice selected 12 cities, including Guangzhou, Shenzhen, Nanjing, Hangzhou, Xiamen, Wuhan, Chengdu, Shenyang, Hefei, Zhengzhou, Foshan and Zhaoqing to carry out the initial pilot projects.
In the case of bank and enterprise cooperation, banks actively contact enterprises for collaboration in leasing projects.
For example, the Shenzhen Branch of China Construction Bank has recently formed 11 home leasing partnerships with several companies, including China Merchants, China Resources, Vanke, Evergrande and Country Garden.
It has so far introduced more than 5,000 sets of long-term housing, and as of the end of October, more than 70 enterprises have signed contracts.
Experts and industry insiders said that the entry of banks into the rental market will fundamentally help solve excessive housing problems. It could also deter customers from moving frequently due to low quality housing, the report said.