November 19, 2013
Beijing’s plan to build low-cost housing for residential use has attracted wide attention since last month. Intended buyers can apply for the first batch of flats through a lottery by the end of this month, the Beijing News reports.
The Beijing Municipal Commission of Housing and Urban-Rural Development unveiled its plan to supply 70,000 units of low-cost housing within two years, at least 20,000 of which will be provided by the end of this year.
The first project will be launched in Chaoyang District’s Dougezhuang area by the end of this month that will provide more than 2000 units of low-cost flats to the area. Intended residents need to register and take part in the lottery for the homes on sale.
The low-cost housing units for residential use are mainly 90 square-meter flats, with some middle-sized units not exceeding 140 square meters. Each flat will be sold at 30 percent below market price. Likewise, the total price for any single unit will be controlled within two million yuan.
Eligibility for the housing lottery is extended to those with permanent residence inBeijingwho do not own a flat and to those who are registered outside the city that meet relevant requirements.