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Beijing finished more govt-subsidized home

Updated: 2012-03-12 15:38

(Xinhua)

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BEIJING -- A total of 239,000 square meters of government-subsidized housings was completed in Beijing in the first two months, according to a survey released Monday.

The figure was a nine-fold increase from that completed in the same period last year, said the survey conducted jointly by Beijing Statistics Bureau and National Bureau of Statistics Beijing Survey Organization.

During the same period, 410,000 square meters of government-subsidized housings was sold, an 8.2 percent increase year-on-year.

While, the amount of commercial residential housing built in January and February dropped 45 percent year-on-year, to 438,000 square meters.

Housing prices in China continued to fall in January as the government remains determined to stabilize the real estate market.

Chinese Premier Wen Jiabao vowed in his work report to the parliament's annual session that the government will continue to regulate the real estate market and develop low-income housing, particularly discouraging speculative or investment-driven housing demand.