FOURTY-FOUR renovated apartments in Yutiancun in Nanyuan Subdistrict, Futian District, were fully booked within 12 minutes after being put back on the market. The apartments in the urban village cover between 13 and 25 square meters with monthly rents ranging from 1,200 yuan (US$179) to 2,500 yuan. The rooms are equipped with a bed, a desk, an air conditioner and a wardrobe. If a tenant needs a washing machine or a refrigerator, they can rent one for 50 yuan a month. The apartments were leased out to tenants through the Dutch auction method, that is, by gradually lowering the bidding price until it is accepted by the first bidder. Last September, the owners of a dozen buildings in Yutiancun signed agreements with a renovation company. In January, buildings No. 33 and No. 35 were the first two to finish their transformation. On April 6, 44 apartments were available for rent. At present, nearly 40 buildings in Yutiancun have joined the renovation plan, accounting for more than 40 percent of the village. According to statistics, 33 buildings are currently being reconstructed in Yutiancun. In addition to the two buildings that have already been put into use, another four have also been transformed into apartments. Shuiwei Village, home to a variety of eateries, launched its renovation July 10. The construction materials market on Fuqiang Road, Dafokou Shifang Restaurant and a kindergarten at the center of the community will be demolished, clearing a total area of 31,447 square meters. The land will be designated for residential and commercial use in the future.(Zhang Yu, Chen Xiaochun) |