In China, 10 million will be built cheap houses and apartments

02.03.2011 09:05
The Government of the People's Republic of China started a targeted program to build affordable housing for the population. It is planned that by the end of October 2011 the country will have built 10 million low-cost houses and apartments.

Chinese authorities consider it necessary to not only ensure the stable development of real estate market, but also accelerate the construction of affordable housing for people with low and middle income countries. Residential real estate will be provided, including the rights and affordable long-term lease.

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Furthermore, for buyers second apartment will be increased initial payment for the property. Also in the authorities' plans - expansion of the list of cities in the Middle Kingdom, which would put restrictions on the purchase of real estate.

In accordance with the plans of the Chinese government, by the end of 2011 in the capital city of Beijing will be built or rehabilitated more than 200,000 low-cost apartments. Another major city of China - Shanghai - will acquire 220,000 units of affordable housing. In the city of Tianjin in the current year will begin construction of 12 million square feet. m cheap residential real estate. This is 85% greater than it was built in 2010 in Hefei City of Anhui Province will house 23,600 low-cost houses.
Content tags: Overseas property
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