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Low-income residents eye affordable housing
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In Beijing, a project to build affordable housing is still under construction. But it's already pulled in many interested buyers. No surprise, since these will go for almost half the price of other commercial houses in the same area.

In Beijing, a project to build affordable housing is still under construction. But it's already pulled in many interested buyers. 

In Beijing, a project to build affordable housing is still
under construction. But it's already pulled in many interested

In the housing administrative office in Tongzhou District located in Beijing's east suburb, many local residents have come to ask for information on the affordable homes, which are currently under construction.

One Office staff said "Since Monday, more than 500 residents have come for consultations, 200 of them have filed application."

The newly opened project is set at a price of 4,460 yuan square meters. In nearby areas, the houses are sold at price up to 8 thousand yuan.

One local resident said "I think this price is acceptable."

The housing project covers an area of 130 thousand square meters, providing 18 hundred unit of apartments. Each averages around 64 square meters in size. It's expected to be ready in about two years.

Houses have been increasingly more and more expensive in major cities. In the fourth quarter of 2007, the average price climbed 10 percent from the same period of 2006. The Government has been making efforts to increase supplies of low-rent, affordable housing, and price-limit housing which aim to expand supply and shelter low-income families.

(CCTV March 13, 2008)

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