>Shanghai Affordable homes program expanded for 2011

For Shanghai property price is very high. Shanghai plans to build more

affordable homes next year, as the city increases efforts to improve the living 

standard of middle to low income households.

The city will see affordable housing totaling 15 million square meters built 

in 2011 - an increase of 25 percent on 2010.Affordable housing program mainly 

includes budget homes, houses built for relocated residents and public housing 

units for rental.

Homes for relocated residents will account for 8 million square meters; 

budget homes are allocated 5 million square meters; and public rent units 

2 million square meters. 

Shanghai began work on more than 12 million square meters of affordable 

housing this year. The city has been striving hard to increase the supply of 

affordable housing as rapidly surging home prices have priced people on lower 

incomes out of the market.