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Targets for affordable homes achieved
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China started construction of 6.66 million affordable housing units and completed 5.44 million units in the first 11 months, meeting its annual targets ahead of schedule, the housing authorities said yesterday.
Investment in these units during the period totaled 1.12 trillion yuan (US$183.2 billion), the Ministry of Housing and Urban-Rural Development said in a statement.
China planned to start building 6.3 million units and complete 4.7 million of them in 2013, to make housing accessible to low-income earners as property prices have sky-rocketed.
Under the 12th Five-Year plan, the number of affordable housing units will rise so that it covers 20 percent of all residential areas by 2015. A total of 36 million affordable homes will be built from 2011 to 2015.
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