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In a raft of housing policies issued in April, the central government promised to provide about 5.8 million units of affordable housing nationwide by the end of the year. Low-income housing projects are now speeding up construction.
This construction site is a low-income home project in Guangzhou. When completed, it will provide about 4,500 houses totaling 300 thousand square meters.
In Guangzhou, a total of 18 low-income housing projects are under construction. They'll provide about 40 thousand homes to the city's mid-and low-income earners.
One resident in Guangzhou said "The housing price wouldn't be as high if there is more low-income housing. We hope the government will build more."
Nanjing is also taking steps to resolve its housing shortage.
This low-income property is under construction, and will eventually be home to 20 thousand families, who would otherwise struggle to afford soaring housing prices.
Just months ago, this land was earmarked for industrial development. But after the unveiling of the housing policies, the government transformed it into a site for much-needed affordable housing.
Yu Tongde, Staff of Nanjing Low-income Housing Construction Co. Ltd. said "Those who apply for low-income housing will move into their homes in two years. We are speeding up construction."
By the end of this year, the total amount of low-income housing under construction in Nanjing will exceed 10 million square meters. They're expected to be completed around the 2012, and will eventually be home to 100 thousand families.