China Housing Market. 70% Of Chinese Millennials Own A Home

China Housing Market. 70% Of Chinese Millennials Own A Home

Editor: Vladimir Bajic | Tactical Investor

China Housing Market


China Housing Market: Highest Millennial Homeownership In The World

The rate of global millennial homeownership is 40%. Leading the pack are Chinese millennials, where 70% owned their home. That’s not a huge surprise since the country’s national average of homeownership is a whopping 90%.

Global Millennial Homeownership RateBetter Dwelling via HSBC

The US and Canada were somewhere in the middle, with 35% and 34% respectively.

The UAE had the lowest rate of ownership, coming in at just 26%.

Millennials in China are almost twice as likely to own a home than the average millennial in the other eight countries.

China Housing Market; Most Millennials Overspent

Millennial first-time buyers have the tendency to overspend, and it’s a global trend.

Over the past 2 years, 56% of global buyers surveyed said they went over budget. A massive 70% of UAE buyers went over their budget, followed by 68% of Malaysian buyers. Canada and France were the least likely of the group, with 42% and 41% of buyers over budget respectively.

Only 15% of survey respondents had a precise budget, so it’s easy to see why so many went over the “budget.” Hard to stay within a number if you don’t know what that number is. Full Story

China Housing Market: The Numbers Behind The Lovely Story

Soon-to-be-published research will show roughly 22 per cent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

 The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation – considered by leaders a key threat to financial and social stability – are coming up short.

“There’s no other single country with such a high vacancy rate,” said Gan, of Chengdu’s Southwestern University of Finance and Economics. “Should any crack emerge in the property market, the homes to be offloaded will hit China like a flood.”

One example of a vacant home is a villa on the outskirts of Shanghai that 27-year-old Natalie Feng’s parents bought for her. The two-story residence was meant to be a weekend escape for the family of three. In reality, it’s empty most of the time, and Feng says it’s too much trouble to rent it out.

“For every weekend we spend there, we need to drive for an hour first, and clean up for half a day,” Feng said.

She joked that she sometimes wishes her parents hadn’t bought it for her in the first place. That’s because any apartment she buys now would count as a second home, which means she’d have to make a bigger down payment. Full Story


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