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Thresholds for budget houses to increase
By Cao Qian |
June 29, 2011, Wednesday
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Print Edition
Print Edition
THE minimum income and assets threshold for budget home applications will be raised in the first half of next year, Shanghai housing officials said.
The upcoming round of budget home applications will begin this week in a few districts including Huangpu. Families of three or more with a monthly disposable income of no more than 3,300 yuan (US$510) per head and financial assets of no more than 120,000 yuan per head will qualify for budget home purchases. The criteria, which was announced in March, applies to all districts and Chongming County.
"More households will benefit from the city's budget home program as we will continue to raise the threshold in the first half of next year," said Pang Yuan, vice director of the Shanghai Municipal Housing Support and Building Administration Bureau.
Li Dong, an official with the bureau, said that individuals who falsify documents in their applications will be "severely" punished. This includes a five-year ban on applying for a budget home.
About 33,000 households in 13 districts have submitted applications for budget home purchases since the fourth quarter of 2010, with Yangpu, Putuo, Zhabei and Hongkou registering the most applicants, the bureau said.
By the end of this year, about 80,000 budget apartments will be ready for the market, said the bureau.
The upcoming round of budget home applications will begin this week in a few districts including Huangpu. Families of three or more with a monthly disposable income of no more than 3,300 yuan (US$510) per head and financial assets of no more than 120,000 yuan per head will qualify for budget home purchases. The criteria, which was announced in March, applies to all districts and Chongming County.
"More households will benefit from the city's budget home program as we will continue to raise the threshold in the first half of next year," said Pang Yuan, vice director of the Shanghai Municipal Housing Support and Building Administration Bureau.
Li Dong, an official with the bureau, said that individuals who falsify documents in their applications will be "severely" punished. This includes a five-year ban on applying for a budget home.
About 33,000 households in 13 districts have submitted applications for budget home purchases since the fourth quarter of 2010, with Yangpu, Putuo, Zhabei and Hongkou registering the most applicants, the bureau said.
By the end of this year, about 80,000 budget apartments will be ready for the market, said the bureau.
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