The government began accepting applications March 8 under its new Housing Eco-point incentive system to encourage people to build or buy environmentally friendly homes and make existing ones more energy-efficient.

The program is designed to promote environmental conservation while stimulating the economy as spending on housing spurs demand in a broad range of industries.

Under the program, up to 300,000 points can be exchanged for a range of products or coupons, with each point worth ¥1. People are also given the option of donating the points to groups working in environmental conservation.

People building new houses or buying new condominiums, during a construction period ranging from last Dec. 8 to next Dec. 31, that meet specified energy efficiency criteria can receive 300,000 points under the program.

Applications for new houses must be submitted by June 30, 2011, while the deadline for new condominiums is Dec. 31, 2011, for people living in buildings of up to 10 stories, and Dec. 31, 2012, for those in buildings with 11 or more stories.