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China intends to build two million new public housing units for 2017
China is on the verge of building two million units of public rental housing in 2017 just to provide affordable homes for low-income citizens, as the official Xinhua news agency told on Monday.
The meteoric ascend of house prices in China's key cities as well as the country's household registration or "hukou" regime have left a great number of low-income families absolutely unable to afford or access to purchase their own homes.
The given plan is given the top priority by the Ministry of Housing and Urban-Rural Development, as vice minister Lu Kehua stressed in an interview.
The ministry is going to work with the national economic planning body as well as the Ministry of Finance on the program, as Lu told.
He told that local governments in some regions had been asked to decrease the threshold for the public housing system, thus providing migrant workers with the long-awaited access, with many regions heeding the call.
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