Beijing to put affordable housing on sale

14:24, January 25, 2010      

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A large number of affordable houses would enter into the market this year in Beijing, which may curb the home price hike to some extent, said Chen Gang, deputy mayor of Beijing yesterday.

As to Beijing, increasing supply of land could not solve the skyrocketing housing price in the city. And, the land in Beijing is extremely scarce, Chen said. Beijing could not supply the houses beyond its urban planning, and would not build the houses in the non-construction area, Chen said.

"If the government steps up construction of low-price housing, making affordable houses availabe to more people, the high-priced real estate will certainly be impacted. More self-living and improving demand in housing will come to the property market," Chen said.

By People's Daily Online

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