Home » Business » Real Estate
Affordable, budget homes in city planning
By Staff Reporters |
January 29, 2010, Friday
|
Print Edition
Print Edition
CALLING home prices in Shanghai already "too high," Mayor Han Zheng said yesterday the city will continue to increase the supply of affordable housing and be tough on property speculation.
The government plans to start construction this year on 12 million square meters worth of affordable homes, or 60 percent of the city's yearly target for new residential development. One third of that, 4 million square meters, will be budget homes.
In Shanghai, the affordable housing program mainly covers budget homes, low-rent apartments, and houses built for relocated residents under urban redevelopment plans.
The city plans on building 300,000 budget apartments and putting 300,000 low-rent apartments in use this year, according to Han.
"We have to make it clear that housing development in Shanghai should be primarily for end users and that more ordinary homes should be built,'' Han said, referring to residents rather than investors and speculators, and houses other than high-end homes.
He said the city hopes to expand its budget home program to more districts in the second half of this year, following trial operations in Xuhui and Minhang districts, and to make standards for applicants more lenient.
Xuhui District has received budget-home applications from about 2,000 households; Minhang got about 600.
Local lawmakers yesterday pleaded for more liberal policies on budget homes to enable more residents to qualify. They also called for expansion of low-rent homes, especially for young university graduates to keep talented people in the city.
Meanwhile, the city will accelerate restoration projects to improve living conditions in old buildings, the mayor said. A total of 1.35 million families have benefited from the restoration projects since their start in 1991, but millions of families still need their houses refurbished.
In addition, the city will closely monitor the housing market and, if necessary, take measures to cool the overheated market, Han said.
He noted that price increases in the real estate industry have outpaced increases in the gross domestic product. He said they are beyond citizens' capacity to endure.
"The high housing prices not only leave negative impact on the city's sustainable development but also do harm in attracting talents," Han said.
In a recent survey of young people, he noted, some 90 percent of respondents said the high cost of housing caused personal stress. Of those who have bought property, 68 percent were afraid of losing jobs and rising interest payments.
The government plans to start construction this year on 12 million square meters worth of affordable homes, or 60 percent of the city's yearly target for new residential development. One third of that, 4 million square meters, will be budget homes.
In Shanghai, the affordable housing program mainly covers budget homes, low-rent apartments, and houses built for relocated residents under urban redevelopment plans.
The city plans on building 300,000 budget apartments and putting 300,000 low-rent apartments in use this year, according to Han.
"We have to make it clear that housing development in Shanghai should be primarily for end users and that more ordinary homes should be built,'' Han said, referring to residents rather than investors and speculators, and houses other than high-end homes.
He said the city hopes to expand its budget home program to more districts in the second half of this year, following trial operations in Xuhui and Minhang districts, and to make standards for applicants more lenient.
Xuhui District has received budget-home applications from about 2,000 households; Minhang got about 600.
Local lawmakers yesterday pleaded for more liberal policies on budget homes to enable more residents to qualify. They also called for expansion of low-rent homes, especially for young university graduates to keep talented people in the city.
Meanwhile, the city will accelerate restoration projects to improve living conditions in old buildings, the mayor said. A total of 1.35 million families have benefited from the restoration projects since their start in 1991, but millions of families still need their houses refurbished.
In addition, the city will closely monitor the housing market and, if necessary, take measures to cool the overheated market, Han said.
He noted that price increases in the real estate industry have outpaced increases in the gross domestic product. He said they are beyond citizens' capacity to endure.
"The high housing prices not only leave negative impact on the city's sustainable development but also do harm in attracting talents," Han said.
In a recent survey of young people, he noted, some 90 percent of respondents said the high cost of housing caused personal stress. Of those who have bought property, 68 percent were afraid of losing jobs and rising interest payments.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
