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BIZCHINA / Review & Analysis

Housing for all

(China Daily)
Updated: 2007-08-25 11:21

A government for the people should always be concerned about the woes of
those at the bottom of the society.

We are pleased to see that our cabinet, the State Council, is taking
active measures to solve housing problems for low-income city dwellers.

It held a working conference yesterday to break down the tasks for
providing affordable houses to urban poor with government subsidies.

The two-step ambitious plan is to cover all low-income urban families
with the low-rent housing system by 2010, benefiting about 10 million
people.

Indeed, the price of commercial houses has skyrocketed so that even
middle-income families are feeling the pinch, not to mention those who
just barely make ends meet, especially in urban areas where the cost of
living has soared.

According to statistics released by the National Development and Reform
Commission last week, property prices in the country's 70 large and
medium-sized cities rose by 7.5 percent year-on-year last month, the
highest since 2006.

Rising housing prices have prompted the State Council to issue a series
of counter measures since 2005.

The latest move is expected to usher in a more improved housing security
system nationwide, guaranteeing the basic needs for housing for the poor.

Catering to the housing needs of low-income people is not only an issue
of social equity but also attests to the government's capability to build
a harmonious society for all.

Given that China's booming economy, people's rising incomes and excessive
liquidity will keep housing demand strong in the second half of the year,
the government's resolve will also contribute to easing pricing pressure .

For one thing, more State-own land will be appropriated for building
cheaper and moderate-sized dwellings instead of luxury and large-sized
commercial houses. The mushrooming of such high-cost and expensive houses
has been one factor driving up real estate prices nationwide.

To facilitate the work, a special department under the Ministry of
Construction is expected to be set up soon. Its main task will be
ensuring an adequate supply of public housing.

Right now, about 291 large and medium-sized cities have launched low-rent
housing schemes. These cities will work to expand the umbrella for all
its poor residents.

Since low-rent houses are still unavailable in more than 60 cities, the
local governments concerned are facing a demanding task to increase
government investment by a big margin and use land in a more efficient
way in order to meet the central government's requirement.

(For more biz stories, please visit Industry Updates)

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