These are the official figures so the real ones are probably higher:
Foreclosed properties reached 606,000 units last year, up 35.7% from 2021, with the number of such properties finding buyers at auctions slumping 14.9% on year, according to calculations from a separate survey by China Index Academy, one of the country’s largest independent real estate research firms.
We hear many stories of people buying condo space but construction delays mean space cannot be occupied. Empty residental new construction with no occupants. Have problems been resolved.
Is China reopening after Covid helping recovery?
Doesn’t seem so:
Here’s a China Insights video on residential home ownership… pretty pessimistic:
Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.
Xi is so full of it…
It is not just 600k or whatever…cant be with this
Number of Households in China
China had 474 million households in 2021. The indicator recorded a year-on-year increase of 0.9% in 2021. Between 2010 and 2021, the indicator increased by 18.2%. The number of households in China was highest in the year 2021 and lowest in the year 2010, between 2010 and 2021.