Shanghai Residents Have Larger HousingResidents in Shanghai, China's largest city, have remarkably improved their housing over the last decade.Official statistics show the per capita floor space in Shanghai has increased to 10.2 square meters from 6.6 square meters in the 1990s. Local experts said this is a very unusual achievement, taking into account the city's huge population of 13 million. They attributed the change to the rapid development of the real estate market. Over the past 10 years, Shanghai has built 101 million square meters of housing, at a cost of 245.9 billion yuan, accounting for 21 percent of the city's total investment in fixed assets during the period. About 3.8 million local people have moved into new houses. |
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