• Home
  • Attractions
  • Hotels
  • Map & Misc
  • News
  • MM2H

Malacca Malaysia

All you need to know to enjoy your stay in Malacca Malaysia.

China cracks the whip on affordable housing

Copyright AFP, 2011 | Jun 11, 2011

China’s housing authorities said Friday construction of 10 million state-subsidised apartments must start by the end of November in order to meet this year’s target, calling it a “political mission”.

The housing ministry issued the urgent statement after state media said this week that a lack of funding and low profit margins for developers meant it “would be very difficult” for all low-income housing projects to start on time.”

The plan to build up to 10 million affordable homes is not only an economic mission but also a political mission.

It’s a promise made by the central government to the nation’s people,” the ministry said.”All local (governments) must start full-scale construction by the end of November.”

China’s public housing programme has been neglected for years as local governments eager to cash in on soaring property prices sold land to developers for high-end projects.

Faced with growing public anxiety over rising costs, Premier Wen Jiabao told China’s legislature in March the government would ramp up a campaign to build affordable housing for the country’s millions of low-income earners.

The subsidised housing will cost an estimated 1.3 trillion yuan ($200 billion), with about 500 billion yuan provided by the central and local governments and the rest coming from the private sector, Xinhua news agency said.

But less than one-third of the low-income homes to be built this year in some cities had started due to a lack of funds and some projects had quality problems, Xinhua said.

Authorities hope the social housing programme will soften the impact of a slowdown in the residential property market as China tries to restrict bank lending and avoid a potentially damaging property bubble.


Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Travel & Property Posts

  • Travel to Malaysia
  • Bayu Ferringhi Condominiums
  • Oasis Serviced Suites, Ara Damansara
  • Ritze Perdana 2
  • Malaysia property cycle and how to mitigate its risk?
  • Buyers complain of prime units being taken up before launch
  • Glut dampens market value and rental of condos
  • Makings of a choice location
  • Property players concerned over new housing loan criteria proposal
  • TO BUY OR NOT TO BUY, THAT IS THE QUESTION

Index : Travel & Real Estate in Malaysia

  • Accommodation
  • Attractions
  • Featured
  • For Rent
  • For Sale
  • Hotels
  • Malacca News
  • Map & Misc
  • MM2H
  • News
  • Property
  • Real Estate Jokes

3 more pages…

  • About
  • Friends
  • Wallpapers

Search

Pages

  • Privacy Policy
  • Sitemap

Property Pages

  • All You Need to Know about Property Forums
  • Bombshell from Bank Negara – LTV of 70% for Third Residential Property and above
  • Property Agents/Negotiators – A Blessing and a Pain?
  • Pros and cons of selling a tenanted property
  • Real Estate Appraisal
  • Real Estate Bird Dogs
  • Robert Allen Multiple Streams of Income
  • The Role of Real Estate Agents
  • What to do with bad tenants

About

Malacca Malaysia Summarized

This site shows you Melaka Malaysia seen through the eyes of a retiree - Hantu Putih in Malay... - staying in Malaysia under the MM2H program: a 10 year multiple entry visa to Malaysia.

Malaysian are very friendly, Malaysia has no winter and you can stretch your European dollars even more in Melaka than in the capital Kuala Lumpur or in the MM2H town of preference: Penang.

Malaysia My 2nd Home

Malaysia My 2nd Home (MM2H) is a 10 year multiple entry tourist visa for retirees, planning to retire and buy property in Malaysia.

Read the latest news and updates about the Malaysia My 2nd Home Programme.

Travel to Penang

  • Destination Batu Ferringhi
  • Bayu Ferringhi Condominiums

© 2021 · Malacca Malaysia · Listed at : Local Business Directory - BTS Local Travel Travel & Leisure - Top Blogs Philippines

7ads6x98y