Feb. 10, 2010 (China Knowledge) - Chongqing plans to complete construction on around 335,000 low-rent apartments for low-income families in the next ten years, and there are currently about 130,000 low-income families that live in this kind of apartments, according to Zhang Dingyu, head of Chongqing Administration of Land, Resources and Housing.

In 2020, the city's low-rent apartments will total 20 million square meters, of which 2 million sq m will start construction this year and of which 10 million sq m will be started within three years.

This year, the low-rent apartments will be located in 20 residential communities in the city, and the area of low-rent apartments in each community will be around 1 million sq m, Zhang added.

Reportedly, Chongqing sold a total of 33.73 million sq m of apartments last year, 63.51% more than in 2008, and the average price surged 19.5% year on year, reaching RMB 3,392 per sq m.

In the city's central district, sales area was RMB 20.61 million sq m, up 90% from a year earlier, and the average price increased 9% year on year to RMB 4,179 per sq m.