Country to build 10 million houses for low-income families in 2011

08:43, December 03, 2010      

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The Ministry of Housing and Urban-Rural Development (MOHURD) has set the goal of building 10 million houses for low-income families in 2011, and is collecting construction plans from local governments, the 21st Century Business Herald reported Thursday.

The number of houses for low-incomes will increase by 72.4 percent next year compared with the 5.8 million supplied in 2010. The additional houses will mainly serve as low-rent public housing and the total investment in the program for the coming year will edge on 1.4 trillion yuan ($210.21 billion).

The report said that more favorable policies will be given to local governments on such programs in 2011, including the Real Estate Investment Trusts (REITs) for low-income housing projects, policy-related loans, and more land supplies.

In 2008, it launched the low-income housing program and provided 1 million houses for the group. And in a period of only one year the figure tripled to 3.3 million.

Source: Global Times


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