Society

Shanghai residents get keys to affordable homes

By Zhao Chenyan (chinadaily.com.cn)
Updated: 2010-12-28 11:42

The first batch of affordable housing is available as residents receive keys to their new homes on this photo taken Dec 23, 2010. [Photo/Xinhua]

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The first batch of affordable housing residents in Shanghai got the keys to their new homes earlier this month, Xinhua reported on Monday.

Since the program first started in the Xuhui and Minhang districts last December, more than 2,000 applicants have qualified and over 90 percent have signed purchase contracts by Dec 20.

Shanghai plans to build 5 million square meters of affordable homes annually to improve the living standard of middle and low-income households in the next two years.