Affordable homes program expanded for 2011

SHANGHAI plans to build some-more affordable homes next year, as a city increases efforts to improve a living standard of center to low income households. The city will see affordable housing totaling 15 million block meters built in 2011 - an enlarge of 25 percent on 2010, Liu Haisheng, director of a Shanghai Housing Support as well as Building Administration Bureau, told a municipal conference yesterday. The city's affordable housing program mainly includes bill homes, houses built for relocated residents as well as open housing units for rental. Homes for relocated residents will comment for 8 million block meters; bill homes are allocated 5 million block meters; as well as open rent units 2 million block meters. Shanghai began work on some-more than 12 million block meters of affordable housing this year. The city has been striving tough to enlarge a supply of affordable housing as rapidly surging home prices have labelled people on lower incomes out of a market. New home cost in Shanghai rose to 22,468 yuan (US$3,373) per block scale on normal in November, fluctuating expansion for a 5th uninterrupted month, according to Shanghai Uwin Real Estate Information Services Co.


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