The Housing Authority's Finance Subcommittee today (6th) reviewed this year's budget and the financial situation for the next four years.
According to the latest financial forecast of the Housing Authority, its fiscal reserves are expected to be 57.7 billion yuan by the end of March 2026.
The chairman of the committee, Chen Jiale, said that he believes that the reserves will be sufficient to meet the construction and operating costs in the next five years.
The Housing Authority predicts that the construction cost in 2022/23 will be 22.1 billion, an increase of 1.7 billion compared to last year, an increase of 9%. In response to the increase in housing production, construction costs will continue to rise in the next three years.
According to the Housing Authority, the current construction cost of each public housing unit is about 650,000 yuan, an increase of 40,000 yuan from the previous year, while the construction cost of HOS housing is 760,000 yuan, a decrease of 140,000 yuan from the previous year, a drop of nearly 16 yuan. %.
The Housing Authority's Finance Subcommittee today (6th) reviewed this year's budget and the financial situation for the next four years.
(Photo by Zheng Zifeng)
The Housing Authority estimates that the construction cost in 2022/23 will be about 22.1 billion yuan, an increase of 1.7 billion yuan from the previous year, an increase of 9%. The authority explained that the increase in expenditure was due to the increase in housing volume and bid prices. It is estimated that the construction in the next three years Expenditure will also continue to increase, and will increase to 33.421 billion yuan by 2025/26.
As for the construction cost of each unit, the Housing Authority stated that the construction cost of a public housing unit is 650,000 yuan, while that of HOS flats is 760,000 yuan.
Compared with the previous year's figures, the cost of public housing units increased by about 40,000 yuan; each group of HOS flats fell by 140,000 yuan, a drop of nearly 16%.
In addition, in the previous year, 4,000 HOS flats were repossessed early, bringing the billing period earlier and increasing the budget for subsidized self-financing homes by 546 million compared to the original forecast.
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The government mentioned in the latest long-term housing strategy that it will supply 330,000 public housing units in the next 10 years.
According to the Housing Authority, the latest budget only takes into account the financial commitment of about 100,000 units that will be completed, and does not take into account the entire 10-year housing construction of the "Policy Address" and the long-term policy.
Chen Jiale stated that the number of houses built in the next five years will increase significantly. I believe that the construction cost will be more than double the current estimate by then. However, he emphasized that the estimation is still at a preliminary stage and many factors need to be considered, and it is difficult to provide actual estimates. .
▼Look at the new HOS housing in this issue ▼
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The Housing Authority revised this year’s surplus of approximately 9.6 billion, and construction costs increased by 1.7 billion. The five-year lock-up period for HOS flats will be doubled or extended to five years. Housing Authority members have different opinions. Some people are concerned about slowing down circulation. In mid-September, the Housing Authority’s bids were worth 67 million taels. Cleaners involved in conspiring to set prices and bid for housing authority contracts. The Competition Committee complained about sharing offices and computers.
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