Zhejiang accelerates development of affordable rental housing

In the first six months of 2022, 319,000 affordable rental housing units in East China's Zhejiang province were built, exceeding the annual target of 300,000 units ahead of schedule.

Specifically, 146,000 units are new while 173,000 were converted or renovated from existing homes.

Among Chinese cities, Hangzhou accounts for the largest percentage of these units at 62,000. Ningbo and Jinhua each built more than 50,000 sets, while Wenzhou and Jiaxing each built over 40,000 units.

Affordable rental housing will help solve housing difficulties faced by the city's residents, said authorities.

During the 14th Five-Year Plan (2021-25) period, Zhejiang is looking to build more than 1.2 million affordable rental housing units.