Shenzhen launches 1,182 new affordable rental housing units, with Longhua and Yantian projects helping young people settle down

Smart Insight News: On February 26, Shenzhen once again increased its supply of affordable rental housing. Longhua and Yantian districts together launched 1,182 rental units, precisely meeting the housing needs of new residents and young people. Among them, the Xincheng Jinxiyuan project in Longhua Fucheng area released 432 single apartments at once, and the Yantian substation renovation project plans for 750 rental units, expected to be delivered by 2026, injecting new vitality into Shenzhen’s rental market.

As the first pure affordable housing community in Longhua District, Xincheng Jinxiyuan is built to affordable housing standards. More than half of the three residential buildings are policy-based housing, including 432 employer-held rental units. The project mainly offers 36㎡ single apartments aimed at single young people and new workers, with rent no more than 90% of market price, flexible application conditions, and a pure community with complete amenities, suitable for long-term stable residence. The project is now in place, with delivery expected to begin in 2025.

Yantian District utilizes stock land through composite reuse, adding 750 rental units during the upgrade and renovation of the substation. The project adopts a “cooperative development + buyback” model, jointly promoted by Anju Group, Shenzhen Power Supply Bureau, and others. Located along Metro Line 8, it features kindergarten and commercial facilities, mainly offering one- and two-bedroom units to meet the transitional housing needs of new residents and young groups. This model effectively revitalizes state-owned land, reduces construction costs, and accelerates the supply of affordable housing.

The launch of these two batches of rental units exemplifies Shenzhen’s dual-track strategy of “new land addition + stock land activation” to expand affordable housing supply. Through pure affordable housing communities and innovative cooperative development models, Longhua and Yantian projects achieve a balance between efficient land use and housing security. In the future, with more market-oriented organizations participating in operation, Shenzhen’s rental market will develop in a diversified, high-quality direction, providing strong support for young talents to settle in the city.