March 15, 2010
Chongqing to build massive low-cost housing
Chongqing plans to build 335,000 affordable units for low-income families in the coming ten years. There are currently about 130,000 low-income families living in the city.
In 2020, the city's low-rent apartments will reach a total of 20 million sq m. The city government plans to start constructing two million sq m this year.
Chongqing's residential sales reached 33.73 million sq m in 2009, a 64% increase from 2008, while the average residential price surged 19.5% year on year, reaching RMB3,392 per sq m.
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