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限价房 (xian jia fang)

Price-Limiting Houses

A term used to describe the houses with limited prices and designated construction areas. It is a measure taken by the central government to solve the housing problem of urban middle and low-income residents as the prices of commercial houses have skyrocketed beyond ordinary people's purchasing power. Price-limiting houses are required to sell at 30 percent lower than the market price. Local governments throughout the country have set different standards for people to apply for the price-limiting houses. Houses of this kind, alongside economically affordable and low-rental houses, both subsidized by the government, are helping urban middle and low-income people to find accommodation.