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China Regulates Housing Market

Officials from the Construction Ministry say the government will work to regulate the housing market, aiming to meet the demand for more affordable houses.

They say there's a relative excess of luxury apartments for high-end customers, and a shortage of affordable houses for people on middle and low-incomes.

The development of luxury apartments will be limited and developers are being encouraged to build more houses at lower prices.

(CRI January 25, 2004)

 

Housing Safeguard Document Due out
Tougher Criteria for Purchasing of Affordable House
More Decent Housing for Poorer Families
157.8 Billion Yuan Invested in Affordable Housing
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