Shanghai's first case of "housing purchase exchange" model signed to ease the rental pressure of new citizens and young people.

On March 31, the first "housing acquisition and exchange" mode in Shanghai was officially signed in Jing'an District. This signing marked a breakthrough progress in Jing'an District in the field of market-oriented activation of existing housing and efficient raising of affordable rental housing, providing a replicable and expandable pilot practice for the collection of rental housing and housing improvement work in the whole city of Shanghai. At the ceremony, Mr. Shi, a resident, as the first applicant, signed the contract for the purchase of existing housing with the district's affordable housing company, and the sales contract with the developer of the new commercial housing project, marking the completion of the full process from housing acquisition and storage to resident exchange and raising of affordable rental housing in the "housing acquisition and exchange" mode. It is reported that during the "Fifteenth Five-Year Plan" period, Jing'an District plans to add approximately 13,000 units of affordable rental housing. As the central urban area of Shanghai, Jing'an has limited land resources, and the traditional model is no longer able to fully meet the increasing demand for the raising of affordable rental housing. In order to further expand the channels for sourcing affordable housing, Jing'an District has pioneered the innovative mode of "housing acquisition and exchange," injecting new energy into the raising of affordable rental housing.