BJ's first publich-rental housing accepts bids

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Beijing's first public-rental housing area in the Xi Erqi district has started accepting bids from the public.

The land covers 50,000 square meters. Opening bids are set at 110 million yuan and the deadline is the eleventh working day from the date of the first effective bid. According to the policy, public-rental housing homes are limited to 90 square meters.

The project is expected to be complete within 3 years. The public-rental housing system is a new supportive policy provided by the government. Its rental fees are a little higher than low-rent housing. Middle and low-income families who pass the approval process can apply. The longest rental term is five years.

Beijing will gradually introduce more public-rental housing projects in the areas of Shi Jingshan and Gao Beidian.