Shanghai launches second-hand housing acquisition for the purpose of providing affordable rental housing.

Shanghai has officially launched the substantial start of purchasing second-hand housing for affordable rental housing projects. The person in charge of the Shanghai Municipal Commission of Housing and Urban-Rural Development stated at the signing ceremony that the purchase of second-hand housing for affordable rental housing projects in Shanghai is a targeted measure to meet the rental needs of new residents, young people, college graduates, and various talents, and to assist in the construction of a youth-oriented city. Pudong New Area, Jing'an District, and Xuhui District in Shanghai are the first pilot areas for this initiative. The first batch of planned purchased properties will focus on matching housing types, reasonable layouts, mature facilities, convenient transportation, etc., in order to accurately meet the "work-life balance" needs of talents in various fields and provide high-quality housing options for more young people, thereby building a strong talent support for the development of the city's core industries.