Source : Business Times – 4 Jun 2009
China plans to build 5.2 million apartments and offer housing subsidies to help accommodate as many as 7.5 million low-income families by 2011, the Ministry of Housing and Urban-Rural Development said.
The planned units are in addition to 380,000 low- cost homes the government started work on in the fourth quarter, the ministry said in a statement posted on its website yesterday. The units are no larger than 50 sq m, or 13 sq m per person, it said.
‘Our principle is to insist on satisfying people’s basic housing needs,’ the statement said. The ministry will also subsidise the rents of 1.9 million families in the three years from 2009 to 2011.
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