600 Million Buildings in China, Yet Ghost Towns Are Everywhere |A Woman Owns 1200 Suites in Shenzhen
China’s real estate market has developed rapidly over the years, and the exact number of houses in China has been a mystery. Recently, the Ministry of Housing and Urban-Rural Development of China (MOHURD) disclosed for the first time that the current number of urban and rural houses in China is nearly 600 million. This announcement instantly sparked heated discussions among Chinese netizens, with “Are there too many houses?” and “How many houses are vacant in China?” becoming the most talked-about topic. Some people worry that this is an oversupply of housing which could lead to a crash in housing prices. Others speculate that the authorities disclosed this data as a precursor for the introduction of a real estate tax.
#RealEstate #housingmarket #chinaeconomy #ghosttowns
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