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City to encourage perfect housing system
27/1/2005 17:38

Gu Jia/Shanghai Daily news

The municipality is in consideration to ease the purchasing qualification for affordable housing, cited government spokesperson Jiao Yang during a duty municipal press conference on January 25.
Shanghai Mayor Han Zheng indicated in his government work report that in order to ensure the health and stability of the property market, the Government will step up its regulation and control efforts, with a view to ensuring that the majority of new properties developed are non-luxury residential units to be owner-occupied by Shanghai residents.
Jiao Yang added, the municipality will encourage the development of affordable housing; not only to meet the demands of the relocated residents, but those of low-income families as well.
A revision on the existing discount housing policy, to benefit even more local residents, is currently under discussion.