Lower-tier cities in Shanxi province have enacted a set of preferential policies in a bid to reduce their housing stocks gradually, according to reports from Xinhua News Agency on April 26.
Linfen, a city in Shanxi province, will provide a stipend of 200 yuan ($29) per square meter to rural residents who purchase newly-built homes in the city from May 1 to Oct 31.
Cities such as Lvliang, Jinzhong, Xinzhou and Yuncheng are also providing subsidies at rates of 150 to 400 yuan per square meter.
The beneficiaries include urban residents, as well as migrant workers, teachers in rural areas and college graduates.
"Third and fourth-tier cities are facing pressure on their housing stock," said Du Min, director of Linfen's housing and urban-rural development bureau.
"Local authorities are also working on the transformation of dilapidated housing and the subsidized resettlement of poor residents, while reducing housing stock at the same time," she added.
