Affordable home figure

AROUND 11.5 million square meters of affordable homes is scheduled to be released on to the local market this year, a top housing official announced yesterday.

This will include budget homes, houses built for relocated residents under urban redevelopment plans and public housing units for rental, Liu Haisheng, director of the Shanghai Municipal Housing Support and Building Administration Bureau, told a municipal conference.

On the supply side, the city government aims to commence construction on and make arrangements for 15 million square meters of affordable houses.

This includes 5 million square meters of budget homes, 8 million square meters of houses designated for relocated residents as well as 2 million square meters of public rent units.

The yearly target has been mapped out in accordance with an earlier five-year plan under which 1 million affordable apartments should be released in Shanghai between 2011 and 2015, Liu said.

Around 50,000 households in Shanghai may submit applications for budget homes. For low-rent houses, another 20,000 families will be covered this year, according to Liu. -Shanghai Daily


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