The story appears on

Page A4

September 27, 2010

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Metro » Society

City plans home help for families

SHANGHAI plans more measures in the next five years to help middle-income families to purchase homes, the city's real estate regulator told legislators yesterday.

The city will build more public housing units for rental and allow tax breaks to fulfil basic living needs while continuing to clamp down on speculation in the real estate market, said Liu Haisheng, director of the Shanghai Municipal Housing Support and Building Administration Bureau, as he responded to proposals from Shanghai People's Congress delegates.

Wide attention has been drawn to the difficulties of middle-income families who are not eligible for budget or low-rent homes, which are designed for low-income households. But they can not afford to buy homes amid rising house prices.

Shanghai will gradually loosen the threshold for budget houses to include middle-income families and also encourage the building of smaller-sized apartments to let more people buy homes, Liu said during a meeting to seek opinions from congress delegates.

But he cautioned that setting up a rental system for public housing is very complicated and the city government does not have enough funds to build public housing on a large scale.

At the same meeting, Zhou Bo, director of the Shanghai Municipal Development and Reform Commission, said the first draft of the city's development plan over the next five years has been finalized with a ''focus on boosting development in suburban areas.''


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend