Erdos will not build new commercial residential housing in three years, said Lian Su, mayor of Erdos, during a group discussion among delegates from the Inner Mongolia autonomous region on Friday at the annual session of the 12th National People's Congress.
Lian told the media there are still 40,000 unsold apartments in Erdos, which has been dubbed the "empty city" for its high housing vacancy rate.
To fill up the empty apartments, Erdos plans to attract buyers by cutting prices and promoting group purchases to new enterprises, said Lian.
It is estimated that all the empty apartments could be bought or leased in three to five years.
The real-estate bubble in Erdos burst in 2010 when the Chinese government launched a series of policies to curb the commercial housing market.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
