Affordable housing to increase in Beijing

Updated 2017-09-11 10:30:39 Global Times

Beijing is encouraging more public housing projects as well as more homes with joint property rights in coming years, to ensure home supply meets demand, the Beijing Daily reported on Saturday.

As of the end of August, public housing projects had reached a total number of 49,000 units, accounting for 99 percent of the whole yearly target, the report noted. In the next five years, Beijing will build a total of 1.5 million residential properties, within which 250,000 will have joint property rights and 500,000 will be designated as rental properties.

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