[photopress:real_estate_Beijing_apartments.jpg,full,alignright]There is going to be a tightening up on the checks carried out on people buying low-cost, government-subsidized housing. An official with the Beijing Construction Commission said that stricter criteria will be introduced.
Cheng Jianhua, vice-director of the commission’s housing management department, said, ‘Family assets, including existing housing, cars, stocks, savings and jewelry will be key criteria to assess applicants’ ability to buy low-cost homes.’
The idea of the new restrictions is that government housing will only be allocated to those who truly deserve it and a comprehensive assessment process will make sure that happens.
Beijing started the construction of government-subsidized housing early in 1998. And more than 50 such projects with a combined floor space of over 2,000 million square meters have so far been completed in the capital, providing homes to more than 200,000 families.
According to Beijing’s housing construction plan for 2006-10, the city will build 110,000 low-cost homes with a combined floor space of 8 million square meters before the end of next year.
Source: China Daily