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  • 中文
6 Million Run-down Houses to Be Renovated
12/30/2015
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run-down houses in Shanghai / image: 163.com
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image: 163.com
CHINA plans to renovate 6 million run-down urban houses in 2016, the Ministry of Housing and Urban-Rural Development disclosed at a work conference yesterday.


The program is a crucial way of providing low-income urban residents with affordable housing. China has a target of renovating 5.8 million homes in 2015, and in the first 10 months work began on 5.75 million units. The aim is to complete renewal of all run-down urban areas and dilapidated housing by 2020.


Yesterday’s meeting also highlighted destocking housing inventories as a major task for 2016.


The ministry said it will improve control of the property market, and encourage real estate companies to merge and restructure.


China’s property market took a downturn in 2014 due to weak demand and a supply glut. This cooling continued into 2015, with sales and prices falling, and investment slowing.
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To combat the market weakness and a broader economic slowdown, China’s central bank cut benchmark interest rates five times and lowered banks’ reserve requirement.


Shenzhen Daily
2015/12/24
Up or Down? (November 2015)

2015/12/18
Up or Down? (October 2015)

2015/11/26
Rise of Solo Living in China: 58 Million One-Person Households

2015/11/10
Shanghai, Beijing in World's Top 10 for Housing Price Growth
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