Taicang City offers incentives and discounts for new residents
Taicang, in neighboring Jiangsu Province, is expecting more residents by offering more high-quality properties and services, as well as discounts.
The city will host a real estate expo this Saturday and Sunday in its downtown Wanda Plaza, with the participation of over 30 big-name property companies.
At the same time, an online version of the expo will be launched on Saturday, lasting three months to allow people outside Taicang to explore the housing market in the city.
During this period (between June 10 and September 10), people who purchase a home in Taicang for the first time can have a reduction of up to 0.75 percent on the contract tax, as well as various discounts on cars, parking spaces, and household appliances worth over 300,000 yuan (US$42,072).
"It's a solid show of our eagerness to attract talent, at a time for us to ride the wave of growth in the Yangtze River Delta," said Lu Jiang, chief of the Taicang Housing and Construction Bureau.
Taicang, which is just an hour's drive from Shanghai, has seen a flood of new residents since 2021 when a total of 18,123 people applied for residence certificates, a sharp rise from 11,452 in 2020 and 9,439 in 2019, official data revealed.
It's a results of national strategies including the integrated development of the Yangtze River Delta region, the development of the Yangtze River Economic Belt, as well as the deepening of the Belt and Road initiative.
In 2021, nearly 2.5 million square meters of homes in Taicang were sold, compared with 1.4 million square meters in 2020, and 1.2 million square meters in 2019.
Taicang has a close tie with Shanghai as both are involved in the Hongqiao International Open Hub blueprint.
"Taicang is located within the north belt of the Hongqiao International Open Hub, giving the city a unique advantage in business and attracting people," said Taicang Mayor Hu Weijiang earlier this year in Shanghai.
"Many have chosen to to develop their career in Taicang, with the confidence of more convenient transport and a better economic outlook in the city."