Date
26 September 2017

Urban tenants allowed to buy affordable homes, paper says

Urban tenants who are renting affordable homes for five years or longer will be allowed to buy their units subject to certain conditions, the National Business Daily reported Monday, citing the draft guidelines on urban housing released by the State Council’s Legislative Affairs Office. According to the proposals, those who bought affordable homes and stayed in them for less than five years can sell the units back to the government. Those found to have used fraud and other illegal means to rent or buy affordable homes will face penalties and criminal charges aside from being banned from the government housing scheme for five years, the report said.

– Contact HKEJ at digest@ejinsight.com

TL/AC/CG

 

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