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May 21, 2010

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City plans new housing blocks

ANOTHER 170,000 families in the city will be able to leave crowded or dilapidated houses and move into more spacious new apartments in two years, city government said yesterday.

Officials said the construction of affordable housing over a city area of 12 million square meters should start this year.

Of that, eight million square meters will used to relocate people whose current houses have been ordered demolished.

Four million will be used to build budget houses for qualified low-income people.

Longer term, the city plans to build another 150,000 apartments for resident relocation by the end of 2015, officials said.

"All the effort is to keep the development of real estate market in a stable and healthy way," said Vice Mayor Shen Jun. "We will try to ensure those in need and restrict the opportunists."

Besides those houses, the government also hopes to soon launch public rental houses for those who cannot afford rising real estate prices, Shen said. Details were not revealed yesterday.


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