Home-buy help sparks hot debate
By Xie Yu | China Daily | Updated: 2008-10-14 07:47
The Nanjing government's decision to subsidize people who buy apartments has sparked heated public debate.
The Nanjing move follows similar decisions by Xi'an, Chengdu, and Xiamen to help lift the ailing property market.
According to the new policy, from Oct 1 to Sept 30 next year, people who buy apartments (including second-hand ones) below 90 sq m will receive a subsidy of 1 percent of the total purchase price. If the apartment size is above 90 sq m but below 144 sq m, the subsidy will be 0.5 percent of the purchase price.
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