Vacant Homes in China Could House Billions Despite Ongoing Property Crisis

Vacant homes in China could house up to 3 billion people, according to some estimates - more than double China's population.
As of August 2022, there were 648 million square meters of unsold residential space in China.
Falling home-buyer sentiment has kept the property market depressed since the 2021 Evergrande default.
Major developers like Country Garden continue to teeter close to default.
A former official gave a rare public critique of the crisis-hit property market at a recent forum.

investing.com

Relevant topic timeline:

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.

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Posted 9/23/2023, 11:38:00 AM

Vacant Homes in China Could House Billions Despite Ongoing Property Crisis

Vacant homes in China could house up to 3 billion people, according to some estimates - more than double China's population.
As of August 2022, there were 648 million square meters of unsold residential space in China.
Falling home-buyer sentiment has kept the property market depressed since the 2021 Evergrande default.
Major developers like Country Garden continue to teeter close to default.
A former official gave a rare public critique of the crisis-hit property market at a recent forum.

investing.com

Relevant topic timeline:

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