Accelerate housing renovation and rental housing renovation: Shanghai's first batch of 10 projects launched "commercial restructuring"

Accelerate housing renovation and rental housing renovation: Shanghai's first batch of 10 projects launched "commercial restructuring"

Recently, the Shanghai Municipal Housing and Urban-Rural Development Management Committee announced that the first batch of 10 existing commercial office projects have officially launched the "commercial-to-rental" transformation, marking an important step in Shanghai's revitalization of existing assets and alleviating the pressure on the housing rental market. This policy responds to the country's positioning of "housing for living, not for speculation" and also provides other cities with a reference sample.

1. Policy background and project overview

According to Shanghai's plan, the total construction area of ​​the 10 projects in this renovation reached500,000 square meters, expected to provide approximately8000 setsRental housing is mainly distributed in Pudong, Minhang, Xuhui and other areas. The renovated housing sources will be included in the city's unified rental housing management system, and the rent level will be 10%-15% lower than the market price of the same location.

2. Renovation standards and supporting policies

Shanghai has clarified the hard standards for "commercial conversion to rent":

• The building area of ​​a single set shall not exceed70 square meters;
• Equipped with independent kitchen and bathroom facilities;
• Fire protection acceptance compliance rate100%;
• Project peripherals500 metersThere are public transportation stations in domestic demand.

At the same time, the government has introduced three incentive measures:

3. Market impact and future planning

According to third-party institutions, Shanghai's "commercial reversal" is expected to affect:

• Reduce the rent premium in surrounding areas5%-8%;
• Digested commercial inventory15 monthsSales cycle;
• create2000The above jobs for decoration, property, etc.

Shanghai Municipal Housing and Urban-Rural Development Commission revealed that it will be launched in the next three years30-50Similar transformation projects are expected to break through the total scale2 million square meters. The following table is the phased goals for 2023-2025:

4. Expert views and social responses

The dean of the Urban Development Institute of East China Normal University said: "'Commercial to Rent' has achieved three benefits:Revitalize idle assets, stabilize rent increases, and optimize urban functions. "A developer involved in the transformation revealed that the project's return on investment period is about8-10 years, although it is lower than the commercial development income, its cash flow is more stable.

Random surveys show that68%The interviewed young tenants were willing to choose to renovate their properties, and the main considerations were:

This innovative model is attracting attention from cities such as Beijing and Guangzhou, and more cities are expected to introduce similar policies within the year. With the continuous advancement of stock transformation, the supply-side reform of my country's housing rental market will enter a new stage.