Prices of Chinese-funded housing on São Tomé Island reduced

The Government of São Tomé and Príncipe has lowered the price of public housing for sale which was built with Chinese money in Mestre António on the island of São Tomé, STP-Press reports.

The São Toméan state-run news agency quotes Derrute Soares, speaking for a group of would-be buyers after talks with São Toméan Public Works, Natural Resources and Environment Minister Osvaldo d’Abreu, as saying the price of a three-bedroom home has dropped to US$35,000 from US$40,000 and that of a two-bedroom home has fallen to U$$25,000.

Mr Soares said buyers would be allowed to pay in instalments.

The Government took possession in August of three blocks of housing together containing 36 two-bedroom or three-bedroom dwellings, STP-Press says.

That month the Chinese Embassy in São Tomé said China said it had promised to pay for the construction of 200 homes in São Tomé and Príncipe by 2024.