City to ensure mid and low-cost properties
24/2/2004 14:50
Shanghai will guarantee mid and low-priced properties reserved for
residents relocating due to urban construction, according to the Shanghai
Housing and Land Resources Administrative Bureau yesterday, the Labor Post
reported.
Lands used for properties inside the city's Inner Ring Road will
account for 20 percent of the total, with the proportion reaching 40 percent for
those between the local Inner Ring Road and Outer Ring Road and outside the
Outer Ring Road respectively, according to the bureau.
Shanghai has enhanced
the market mechanism for local land supplies over the past several years, and
made full use of its limited land resources, guaranteeing the land for key
project construction.
The city will further strengthen its control on land
supplies, putting a lid on land use for real estate projects and trying to find
ways to withdraw lands left unused.
Wendy Zhang/ Shanghai Daily news
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