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Housing plan subsidies raised
Source: Xinhua |
May 21, 2011, Saturday
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Print Edition
Print Edition
CHINA'S Ministry of Finance yesterday said it has allocated additional 18 billion yuan (US$2.77 billion) in subsidies to fund public housing projects across the country.
The central government's new subsidies raise the total of funds earmarked to support construction of affordable housing projects to 61.7 billion yuan, according to the ministry.
China's affordable housing plan aims to offer low-rent housing and public rental housing units to low- and middle-income groups. The funds will also be used to help local governments renovate run-down areas and build other related infrastructure facilities, the ministry said on its website.
Of the total subsidies, 11.7 billion yuan will go to the low-rent housing program, 34 billion to public rental housing, and 16 billion for renovation projects in run-down urban areas, according to its statement.
The government plans to build 10 million units of affordable housing this year and 36 million by 2015 to offer alternatives for home buyers in cities where average property prices almost doubled during the past two years.
Housing prices in major cities showed mixed growth in April, with more cities reporting month-on-month increases in new commercial housing prices from March, and lower prices for resold housing units, according to figures released on Wednesday by the National Bureau of Statistics.
Prices of new homes in April increased from the previous month in 56 of the 70 cities surveyed by the bureau, compared with 50 cities reporting month-on-month growth in March.
New home prices declined from a month ago in nine cities while prices went unchanged in five cities, and 26 cities posted lower monthly price gains than in March. All of the cities that experienced home price hikes posted increases of less than 1 percent, the bureau said.
The central government's new subsidies raise the total of funds earmarked to support construction of affordable housing projects to 61.7 billion yuan, according to the ministry.
China's affordable housing plan aims to offer low-rent housing and public rental housing units to low- and middle-income groups. The funds will also be used to help local governments renovate run-down areas and build other related infrastructure facilities, the ministry said on its website.
Of the total subsidies, 11.7 billion yuan will go to the low-rent housing program, 34 billion to public rental housing, and 16 billion for renovation projects in run-down urban areas, according to its statement.
The government plans to build 10 million units of affordable housing this year and 36 million by 2015 to offer alternatives for home buyers in cities where average property prices almost doubled during the past two years.
Housing prices in major cities showed mixed growth in April, with more cities reporting month-on-month increases in new commercial housing prices from March, and lower prices for resold housing units, according to figures released on Wednesday by the National Bureau of Statistics.
Prices of new homes in April increased from the previous month in 56 of the 70 cities surveyed by the bureau, compared with 50 cities reporting month-on-month growth in March.
New home prices declined from a month ago in nine cities while prices went unchanged in five cities, and 26 cities posted lower monthly price gains than in March. All of the cities that experienced home price hikes posted increases of less than 1 percent, the bureau said.
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