China to build diversified housing rental market in 3 years

Beijing

CHINA will establish a diversified and standardised residential rental market within three years, according to the Ministry of Housing and Urban-Rural Development. With home prices increasing, more people, especially transmigrants, are choosing to rent accommodation and the market needs proper regulation, the ministry said on Wednesday. It added it would build a government-led service portal for rental information, and encourage estate agents to either lea…