Housing News
- More housing promised for the poor
Date: 28-Feb-2007 Sources: (Shenzhen Daily)
THE government has promised more low-cost housing for the poor as part of efforts to restrain surging home prices.
Vice Premier Zeng Peiyan, speaking at a government meeting on housing prices Sunday, promised to put more real estate up for sale and offer 'more and better houses to low-income families.'
'The Beijing Municipal Government should channel more funds into low-rent housing schemes and standardize the construction, sale and distribution of low-cost, affordable houses,'Zeng said.
By the end of last year, 512 of the nation's 657 cities had introduced low-rent housing schemes, and the Ministry of Construction ordered that the schemes be extended to the rest of the country this year.
The meeting emphasized a combination of market mechanism and governmental regulations, Xinhua reported.
It's the government's responsibility to solve the basic housing problem of the low-income group, participants said.
The government is trying to restrain a surge in housing prices and force developers to build more low-cost housing following frenzied construction of villas and other luxury projects.
Housing prices in Beijing rose 9.9 percent over the year ending last month, while prices in 70 Chinese cities rose an average of 5.6 percent, the National Reform and Development Commission said.
Zeng said the government will 'crack down on those involved in hoarding land, bidding up housing prices and committing contract frauds.'
Authorities in Beijing plan to build 10 million square meters of low-cost housing over the next three years.
Beijing Mayor Wang Qishan said last month the city would begin building low-rent houses with a total floor space of 300,000 square meters this year.
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