09 Mar '11, 4am

China to build more subsidised housing project for low-income earners

China to build more subsidised housing project for low-income earners

BEIJING: Public housing is a top issue to be discussed at China's on-going National Party Congress. The Chinese leadership has vowed to address discontent over soaring property prices by building more affordable housing. The plan is to construct twice as many units between 2011 and 2015, as it has in the last five years. China is looking into building more subsidised housing project for the low-income earners as skyrocketing property prices have made home ownership increasingly difficult. Migrant workers and fresh graduate are the hardest hit and they have little choice but to live in tiny, cheap apartments. The Chinese leadership has ordered local governments to increase funding and land supplies for affordable housing and their target is to build 36 million units by the year 2015, starting with 10 million this year. The central government has also stipulated that 70 per ...

Full article: http://www.channelnewsasia.com/stories/eastasia/view/1115...

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