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Shanghai to continue home curbs
By Cherry Cao |
October 18, 2012, Thursday
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Print Edition
Print Edition
SHANGHAI will continue to strictly enforce its property curbs to fight speculation even as it proceeds with its affordable housing program for low to mid-income households, a senior government official said yesterday.
The measures, including home buying curbs and differentiated mortgage policies, will remain, Liu Haisheng, director of the Shanghai Housing Support and Building Administration Bureau, told a municipal conference held yesterday.
"In general, tightening measures aimed at curbing speculative demand have proved effective so far, and we will spare no effort to retain them," Liu said.
"At the same time, we will accelerate our work to further expand the affordable housing program despite difficulties which include inadequate land resources and a shortage of capital for home construction."
Shanghai has budget homes, houses built for relocated residents and public housing units for rental to cater to low-income families. Since 2008, the city has either built or arranged 56 million square meters, or 750,000 units, of affordable homes, according to Liu.
The measures, including home buying curbs and differentiated mortgage policies, will remain, Liu Haisheng, director of the Shanghai Housing Support and Building Administration Bureau, told a municipal conference held yesterday.
"In general, tightening measures aimed at curbing speculative demand have proved effective so far, and we will spare no effort to retain them," Liu said.
"At the same time, we will accelerate our work to further expand the affordable housing program despite difficulties which include inadequate land resources and a shortage of capital for home construction."
Shanghai has budget homes, houses built for relocated residents and public housing units for rental to cater to low-income families. Since 2008, the city has either built or arranged 56 million square meters, or 750,000 units, of affordable homes, according to Liu.
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