Shenzhen Enterprise Human Resources Development Association (HRDA) joined hands with a local real estate company Saturday to release a plan, which enables a company and young talents to share the ownership of apartments in a bid to attract more talents, Shenzhen Special Zone Daily reported.
The company, Shenzhen Anjajian Industrial Development Co. Ltd., said it will offer 50 apartments to young talents who meet the HRDA standard.
Young talents and Shenzhen Anjajian will share the property rights and both sides can repurchase each other’s 50% ownership in three years.
Three years later, if house prices rise, young talents can choose to buy the remaining half of the property right from the enterprise at the original price. If house prices fall after three years, the enterprise will buy back the property rights from the young talents at the original price to ensure that the talents have no worries about losses suffered from market fluctuation.
HRDA said that the housing estate offered by Shenzhen Anjajian offers wide-ranging services including housing, commerce and supporting facilities.
It is the first time in the country that an enterprise has launched a plan of shared ownership of apartments with young talents, the Daily reported, citing Zhang Wufeng, vice president of China Real Estate Research Institute.
“It not only makes a useful supplement to Shenzhen’s housing system, but also adds new vitality and vigor to Shenzhen, a hot land for innovation and entrepreneurship,” Zhang told the Daily.
The plan has three advantages: first, it reduces the threshold for young talents to buy a home and solves the housing problem with only half of the funds needed; second, it has achieved three wins for young talents, enterprises and industries; third, it can attract and retain more young talents, Zhang said.