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Repurchase Price in Tianjin Set as 1.3 Times the House Market Price
   2015-09-10 07:13:41    CRIENGLISH.com      Web Editor: Wang Kun

A photo shows the damaged homes in Tianjin. [Photo: qq.com]

The district government in Tianjin's Binhai New Area has set a repurchase price for homes damaged in last month's deadly blasts at the Port of Tianjin.

Homes damaged in the massive blasts can be sold-off by the owners at 1.3-times the original price.

People who have homes in the blast zone have the option of selling to a consortium of state-backed property developers.

If they choose to stay, the district government will repair their homes, free-of-charge.

Those who choose to renovate their homes are also eligible for compensation worth 16-percent of their original home purchase price.

An independent third-party agency has been assigned to determine the market price of these homes before the blast, as well as the value of the damage to the items people had inside their homes at the time of the blast.

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