Beijing sets criteria for affordable housing
8 November 2007
Beijing has set a threshold for poor residents who want to purchase affordable apartments in the city, Beijing Times reported (in Chinese). The standards include annual income, household assets and current average residential area. Under the new standard, a five-person household with annual income under US$8,000, family assets less than US$64,320 and a home of less than 10 square meters would be eligible to buy a subsidised apartment. The Beijing Municipal Construction Committee, which is in charge of the affordable housing market, said applicants would be rigorously examined and that fraud in the application process would be subject to "punishment."
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