Newly-built affordable housing units should be approximately 60
square meters each, according to regulations published by the State
Council yesterday, the Beijing Youth Daily reported on
Tuesday.
The government will buy back economically affordable houses from
owners who have bought a second house, according to the
measure.
Only houses with less than five years of ownership are suitable
for the repurchase program, the measure says, and the government is
given propriety priority in buying those houses.
Household income standards for buying economically affordable
houses will be set by the government and announced annually.
Also according to the measure, owners of economically affordable
houses have limited ownership of the houses. People who have
benefited from the welfare-oriented public housing distribution
system and bought economically affordable houses are not allowed to
buy economically affordable houses again.
(China Daily August 15, 2007)
