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An announcement posted on the official website of Beijing housing authorities indicates that the city will pilot a lottery scheme to allocate affordable apartments to eligible families next Monday, according to a Beijing News report on Friday.
Affordable housing is one form of indemnificatory housing projects launched by the Chinese government with the purpose of protecting limited-income families from sky-high property prices.
The housing developer will offer 1,882 apartments for the lottery, while 127, 638 households will be qualified to enter the pool, according to the announcement.
The average price for every square meter is limited to 22,000 yuan ($3,500), which is about half of that for commercial flats at the same location.
The final number of lottery will be 3,764 households, and the last 1,882 households will be optional candidates in case someone gives up the right to buy an apartment.
