Cao Qian/Shanghai Daily news

Shanghai plans to start building another 4 million square meters of budget housing throughout the city next year and will tell certain organizations to purchase existing apartments from the market, both finished and unfinished, to ensure the supply of homes for low-income families, the city government said yesterday.

The budget home program, which was announced late Monday, is expected to boost the city's housing market, which has been plagued by sluggish sales over the past year, industry experts said.