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China allocates 20k hectares for low-income housing

Updated: 2012-08-08 09:33
( Xinhua)

BEIJING -- China has allocated more than 20,000 hectares of land to support the construction of low-income housing this year, an official with the Ministry of Land and Resources said Tuesday.

The nation plans to distribute 47,600 hectares of land for low-income housing projects in 2012, more than the 43,600 hectares allocated last year, Vice-Minister Hu Cunzhi said at a seminar on low-income housing policies.

China has stepped up the construction of low-income housing in recent years, as skyrocketing home prices have triggered public complaints.

Housing prices have shown signs of rebounding over the last few months, after the government eased its grip over credit control to buoy the slowing economy.

The government has maintained its previously-adopted tightening measures such as higher down payments and property tax trials to cap home prices.

It has vowed to build 36 million affordable housing units during the 2011-2015 period to meet the demand from low-income families. In 2011, it started construction on 10 million units.

 

China's low-income housing

Policy flaws make low-income housing unpopular
China aims to increase 12m low-income housing
Beijing to add 160,000 low-income housing units
Low-income housing gets 175b yuan loans
China starts building 7m low-income housing

China's affordable housing

Build affordable houses
China stresses quality of affordable housing
Expanded financing for affordable housing urged
China boosts financial?aid for affordable housing
Funding guaranteed for affordable housing
Officials exposed for affordable house-related violations
Affordable-housing goal met

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