Nansha urges joint house ownership by government, residents

Guangzhou’s Nansha district issued detailed rules on implementing the management of houses with joint-property rights between the government and the occupiers, to take effect from Oct 24 of this year to Nov 5 of 2021.

This preferential housing policy aims to safeguard the moderate and low-income population and to reward the badly-needed talents.

Eligible people will be able to buy houses at favorable prices and gain the help of commercial bank loans as well as housing provident funding -- a kind of legal reserve for housing acquisition.

However, the occupants will share the property rights with the government; they will possess 50 to 80 percent of the shares in principle.

Transfer of the property rights shares is forbidden until a five-year residence expires. If that period does not expire the houses will be counter purchased by the committed state-owned enterprises.

The occupiers are allowed to transfer their property rights to other individual purchasers after five years without changing the houses’ safeguard nature. They can even put the houses into the market after eight years, according to the document.

The first of the 347 policy-based houses are located in the free trade zone’s Shouzhu Garden residential community. A single house generally has three bedrooms and two living rooms, with living space up to 101 to 142 square meters.

The owners will enjoy a cozy living environment that is accessible to convenient transportation and sound facilities. The business area and district government are just 15 minutes away. Well-equipped education and recreation facilities like kindergartens, badminton gyms and swimming pools are also nearby.