Sunday, June 26, 2022
banner

Chinese cities offering incentives to families with 2 or 3 kids for house purchasing

  • May 19, 2022
  • Author: QT-Online
  • Number of views: 1290
  • Top News
Plans are underway in China to encourage families with two or three children to buy more homes. Global Times reports that since May at least 13 cities across China have implemented priority housing policies that allows households with three children to buy one more house than the number indicated by the local home-buying restrictions.
Hangzhou in East China's Zhejiang Province, Nanjing in East China's Jiangsu Province, Dongguan in South China's Guangdong Province and Shenyang in Northeast China's Liaoning Province have implemented housing policies for families having multiple children. Hangzhou is offering such families priority in lotteries over other prospective buyers when purchasing newly built houses.
Various schemes are being implemented in other cities, including increasing the credit limit on housing provident funds. Zhoushan in East China's Zhejiang Province has increased the credit limit by 20 percent more than the normal maximum limit.
Chinese government is coming out with measures to encourage young couples to have more children. Chinese couples can have a third child since June. Jingdezhen in East China's Jiangxi Province said it would give 200 yuan (roughly $30) per square meter to second-child families and 300 yuan per square meter to third-child families for house purchasing, reports Global Times.
China's neonatal population in at least 11 provinces has been negative in many cities. 10.6 million babies were born in China last year, which is the lowest birth rate since 1949.
Beijing's total population reached 21.89 million last year after growing by an annual average of 1.1 percent for a decade-more slowly than in the decade to 2010, according to a report in China Daily.