Tibet offers home purchase subsidies

Cities in the Tibet autonomous region have been paying subsidies to residents who bought houses as part the region's policy of easing the pressure of house purchases, Tibet Daily reported.

Nyingchi and Shigatse, along with Ngari prefecture, have formulated and introduced specific implementation plans for housing purchase subsidies, and they have granted the first batch.

As of the end of May, Nyingchi had granted 13.7 million yuan ($2 million) to 322 families; the city of Shigatse had granted nearly 8.4 million yuan to 253 families; and Ngari prefecture had granted about 66,000 yuan to two rural families.

Other cities in the region are currently working on the formulation of housing purchase subsidy policies now.

Migmar Tashi, a staff member from Shigatse's housing and urban-rural development bureau, said that over the years the real estate industry of the city had been developing steadily. The city's urban landscape has undertaken significant changes.

"People's need for quality housing and a proper living environment have continuously improved in recent years," said Migmar Tashi. "The real estate industry has made positive contributions to the city's economic and social development."