Aufgrund der Wohnungsschwemme gibt es in China überschüssige Wohnungen für 150 Millionen Menschen

by MaleficentParfait863

37 comments

  1. Article:

    **Market hit by a double whammy of weak sales and population drop**

    TOKYO — China is grappling with the aftermath of its bursting housing bubble. Given weak sales and an inventory build-up in the sector, it is now expected to take more than five years for the country to shed excess stock.

    As China’s housing demand will likely fall further due to a shrinking population and rising living standards, the world is bracing for a surge in exports of cheap building materials from the country.

    “At 620,000 yuan ($86,300), the price for this 110-square-meter flat is now off 22%. We can cut it more if you are interested,” said a salesperson at Country Garden Holdings in the city of Nanchong in Sichuan province. Facing financial trouble, the condominium developer is holding a fire sale to get some cash.

    Websites and social media are also abuzz with talk of discounts. “A property in Shenyang, Liaoning province is now fetching 8,300 yuan per sq. meter, down 3,000 yuan,” one posted.

    Intense price-cutting competition is underway as the country’s housing market becomes saturated. The level of excess stock, calculated by subtracting all the residential floor space sold from the total area of homes built, reached just under 5 billion sq. meters at the end of 2023. Assuming each home has a floor space of 100 sq. meters and three family members, China now has excess space to house 150 million people, equal to about 50 million homes.

    The home-building binge subsided after the country began to tighten regulations in 2020. But inventories remain high due to sluggish sales. The amount of residential floor space sold in 2023 totaled 940 million sq. meters, down about 40% from a peak of 1.56 billion sq. meters in 2021.

    In 2020, China had more than 220 million people in their 30s — potential first-time homebuyers — but the number is expected to fall below 160 million in 2035. A study by Harvard University professor Kenneth Rogoff and others forecast that the number of urban housing starts continues to fall at an annual rate of 3% through 2035.

    Furthermore, China’s catch-up in living space — a measure of well-being — has ended. In 1978, when the country’s open-door policy began, the per capita housing floor space was only 8 sq. meters. A drive to seek “more spacious and comfortable” dwellings then fueled homebuying, pushing the average living space to more than 40 sq. meters, a level comparable to that of Japan and Britain.

  2. 1. China has too much housing supply.

    2. China has world’s biggest ports, largest fleet and millions of unemployed young adults.

    3. Rest of western world has housing shortage.

    See where this is going?

  4. Why don’t they just give free housing (first years) to foreigners? Plenty of people want to work and need a home in Asia alone. Occupancy arranged, those people get jobs and after a while can start paying rent. 

  5. So housing costs are declining, and cheap construction materials will incentivize building more housing in the rest of the world, which will help control housing costs there too?

    Sucks to be a local Chinese government but… I see this as an absolute win!

  6. Can we get whoever build those homes to build homes in the US?…. the housing prices in the US is bullshit and driven up by artificial scarcity.

  7. “But they’re all at least in areas where people want to live, because that’s what decides where housing gets built, right?”

    “…”

    “…right?”

  8. How many of those ‘homes’ are crumbling, shoddily built apartments in ghost cities?

  10. The matter will solve itself when the homes collapse in a few years due to shoddy building practices.

  11. So can we physically take those homes and move them here? Like off the coast of SF bay brea? Or maybe just plop them right down in the middle of the bay?

  13. If their society wasn’t so fucked up and racist on top of that, they could welcome immigrants. Hahahahahah right, when pigs fly I’m sure.

  14. Er.. aren’t there entire “cities” of empty concrete apartment buildings they built just because they could.

  16. I mean, they’re mostly made out of sand with rusty bits of rebar because I guess a lot of the actual concrete got corrupted out, so the good news is most of those homes will probably just fall down on their own over the next 10 years or so

  17. I’d like some glut here in the US.

    Can we get some glut?

  18. everything in excess, that is the Chinese way.

    build what you can’t live in
    eat what you can’t finish
    make what you can’t use

    ghost cities, ghost malls, graveyards of bicycles and cars
    high speed rail to nowhere with few passengers to ride

    death and destruction of earth’s resources on an unimaginable scale
    mass excess wasteful builds of un-consumption and un-compromise.

  21. Could China help California? We don’t have any apartments or mobile homes for people in their 30s. And the state government are clueless. They definitely need assistance.

  22. Almost all of them are cheap shit that crumbles at the touch anyways, the housing economy in china is fake and it will collapse on itself soon.

  23. Almost none of these homes would be livable. They were built for the sake of building them, and then letting someone else demolish them when they were abandoned, because this was an even more socially and economically toxic practice than giving housing loans to literally everyone, that caused the last American housing market crash. It was just a total scam that enriched only the builder’s pockets.

  24. They should send all of the international refugees there.

  26. The catch is that they are shoddily constructed apartment blocks in the middle of nowhere.

  28. I fucking hate that the boomers decided housing should an investment opportunity instead of a commodity.

  30. America would never made such a mistake and would never make housing affordable

  31. Thanks god they are buying all of he houses in the western countries to protect their money. Now nobody gets to live in a house everywhere equally.

  32. Sounds way better than the housing shortage we have in most of the developed world

  34. This is by design. People criticized China for the ghost cities years ago, but have since filled them.

    I’m not simping for China here, but I’d rather have too many homes, than not enough.

  35. While China spent 60 years building their infrastructure and deeply investing in every country on the planet America waged war after war while her people starve and die of disease crippled in dent..

  36. Meanwhile Australia has a housing crisis (shortage) and loads of empty investment properties owned by Chinese parking their money for capital gains outside of China.

    ffs

  37. Cool, can they stop buying all the homes in Canada so we have places to live?

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