Topics

Posted 9/24/2023, 1:57:00 PM

China's Vacant Ghost Cities Highlight its Real Estate Crisis

Former Chinese official said China's 1.4 billion people couldn't fill all its empty homes
China has long struggled with a real estate crisis, leaving many properties vacant
In 2021, China had at least 65 million vacant homes, enough to house France's population
Cities like Shenyang and Ordos have sprawling ghost towns and abandoned development projects
Government efforts to move top schools to places like Ordos have drawn some new residents

businessinsider.com

Relevant topic timeline:

8/23/2023

China should stick to 'houses are for living, not for speculation' - state media

China should continue to prioritize the principle of "houses are for living in, not for speculation" to prevent potential negative impacts on economic and social development, according to an editorial in the state-run Economic Daily, as the country faces a downturn in the property sector and potentially unwinding some curbs.

9/1/2023

China relaxes mortgage rules to help homebuyers in latest stimulus push

China has lowered requirements for homebuyers in an attempt to revive its struggling property market and address the financial crisis.

9/11/2023

China's Economic Woes Deepen as Real Estate Crisis Spurs Spending Slump

China's real estate and construction sectors are struggling, leading to fears of economic stagnation as consumer spending declines and other areas of the economy are not growing fast enough to make up the difference.

9/13/2023

China rolls out new measures to prop up struggling property sector

China's recent policies to stabilize the property sector may not be enough to stimulate real economic growth, although they could generate demand, according to analysts.

9/24/2023

China Has Massive Oversupply of Vacant Homes, Enough to House Over 1 Billion People

China's property market is in crisis with a surplus of empty apartments, estimated to be enough to accommodate 3 billion people, according to a former official, signaling ongoing challenges for the sector despite official claims of a "resilient" economy.

9/24/2023

China's Massive Property Crisis - 3 Billion Empty Homes Amid Developer Debt Defaults

China's former deputy head of the statistics bureau estimates that there are up to 3 billion vacant homes in the country, highlighting the out-of-control property crisis that has caused a decline in tax revenue and a rise in unemployment.

9/24/2023

China's Housing Market Slump Deepens as Empty Homes Abound and Developers Teeter

China's property sector has slumped since 2021, with big-name developers teetering close to default and an abundance of vacant homes that even China's population of 1.4 billion can't fill, according to a former official.

9/25/2023

China's Massive Vacant Housing Glut Signals Trouble for Its Property Market and Economy

China is facing a housing crisis with rows of empty homes, leaving the country with an estimated 65-80 million vacant units, indicating a long-term decline in housing demand and raising concerns about the nation's economic growth.

9/27/2023

China's Property Crisis Could Take a Decade to Resolve, Says Censored Economist

China's property crisis, characterized by an excess of empty homes, could take up to a decade to resolve, according to economist Hao Hong, with the country's urbanization process stagnating and the property sector's contribution to GDP declining.

9/29/2023

China's Economic Growth Slows as Property Slump Deepens Despite Easing Covid Curbs

China's economic outlook, particularly for the real estate sector, is expected to become clearer in the last three months of the year, with potential government support and loosening of restrictions to stabilize the housing market and allow the economy to recover fully by mid-2024. However, economists predict that real estate growth will remain weak and prices may fall gradually, as significant price declines could have adverse social consequences.

Topics

Posted 9/24/2023, 1:57:00 PM

China's Vacant Ghost Cities Highlight its Real Estate Crisis

Former Chinese official said China's 1.4 billion people couldn't fill all its empty homes
China has long struggled with a real estate crisis, leaving many properties vacant
In 2021, China had at least 65 million vacant homes, enough to house France's population
Cities like Shenyang and Ordos have sprawling ghost towns and abandoned development projects
Government efforts to move top schools to places like Ordos have drawn some new residents

businessinsider.com

Relevant topic timeline:

8/23/2023

China should stick to 'houses are for living, not for speculation' - state media

9/1/2023

China relaxes mortgage rules to help homebuyers in latest stimulus push

China has lowered requirements for homebuyers in an attempt to revive its struggling property market and address the financial crisis.

9/11/2023

China's Economic Woes Deepen as Real Estate Crisis Spurs Spending Slump

9/13/2023

China rolls out new measures to prop up struggling property sector

China's recent policies to stabilize the property sector may not be enough to stimulate real economic growth, although they could generate demand, according to analysts.

9/24/2023

China Has Massive Oversupply of Vacant Homes, Enough to House Over 1 Billion People

9/24/2023

China's Massive Property Crisis - 3 Billion Empty Homes Amid Developer Debt Defaults

9/24/2023

China's Housing Market Slump Deepens as Empty Homes Abound and Developers Teeter

9/25/2023

China's Massive Vacant Housing Glut Signals Trouble for Its Property Market and Economy

9/27/2023

China's Property Crisis Could Take a Decade to Resolve, Says Censored Economist

9/29/2023

China's Economic Growth Slows as Property Slump Deepens Despite Easing Covid Curbs