GUANGZHOU: Lei Jun, CEO of China’s third largest designer and distributor of smartphones, mobile apps and consumer electronics Xiaomi is to invest 100 million yuan in a new form of community housing. The you+ International Youth Apartment (you+) differs from traditional property developments because it targets the rental market for the young generation and aims to provide an interactive community for the people who live in it.
The following groups are ‘disqualified’ from renting an apartment in you+: people above 45-years-old are disqualified because you+ is exclusive to the young generation; married people living with their family are disqualified as the apartments are designed for single adults; people who are not keen on making friends or are anti-social are not the target tenants for you+ as the project is about networking and sharing.
Renting an apartment in you+ in Guangzhou is around 2, 000 to 3, 000 yuan per month, which is slightly lower than the market price of the neighbourhood. This enables tenants to live in a decent neighbourhood, without sacrificing other elements of a quality life, like socialising with friends and expanding circles after work, saving money for further education and the future family life…