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BIZCHINA / Center |
State Council issues affordable housing guidelinesBy Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-08-14 17:13 Newly-built affordable housing units should be approximately 60 square meters each, according to regulations published by the State Council yesterday, the Beijing Youth Daily reported today. The government will buy back economically affordable houses from owners who have bought a second house, according to the measure. Only houses with less than five years of ownership are suitable for the repurchase program, the measure says, and the government is given propriety priority in buying those houses. Household income standards for buying economically affordable houses will be set by the government and announced annually. Also according to the measure, owners of economically affordable houses have limited ownership of the houses. People who have benefited from the welfare-oriented public housing distribution system and bought economically affordable houses are not allowed to buy economically affordable houses again. |
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