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E-mail CNTV, February 3, 2012
The nation's capital of Beijing has issued a new regulation, prohibiting low-income families who've purchased government-subsidized apartments, from reselling them on the market.
The ban comes as Beijing, and a number of other cities, continue large scale construction of affordable housing.
Under the new rules, subsidized apartments, usually smaller than 60 square meters per unit, can only be sold back to the government - and only if families want to sell them. That's according to the Beijing Municipal Commission of Housing and Urban-rural Development.
Only applicants with low incomes and limited financial assets are eligible to buy the subsidized apartments, which are priced far below market value.
The practice of reselling government-subsidized homes back onto the mainstream property market has long been criticized, since China's real estate boom began several years ago.
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