Source: CCTV.com

02-20-2008 10:32

Authorities in Beijing have announced details of new budget-priced apartments. The units are set to go on sale in the near future.

Authorities in Beijing have announced details of new  budget-priced apartments. The units are set to go on sale in the near future.

They come with very specific conditions, but could provide many people, especially those in the middle-and-low-income group, with more affordable housing. The budget-priced apartments have limits on prices, limits on floor-areas, and limits on who can purchase this type of housing.

According to Beijing's local construction commission, applicants of these apartments have to hold a Beijing local ID. Only individuals 30 years old or above, or couples with a combined annual income of under 88,000 yuan will be considered. These home owners will also not be allowed to sell their apartments within the first five years after their purchase.

Editor:Xiong Qu