Tiagong, Tiongkok Has Too many Empty Houses liao... Even 1.4b Ah Tiongs are unable to fill them up, how?

[k1976]

https://www.reuters.com/world/china...-its-vacant-homes-former-official-2023-09-23/

 

[k1976]

Even China's 1.4 billion population can't fill all its vacant homes, former official says​

Reuters
September 23, 20239:16 PM GMT+8Updated 7 hours ago

An aerial view shows unfinished residential buildings of the Gaotie Wellness City complex in Tongchuan, Shaanxi province, China September 12, 2023. REUTERS/Xiaoyu Yin/File Photo Acquire Licensing Rights


BEIJING, Sept 23 (Reuters) - Even China's population of 1.4 billion would not be enough to fill all the empty apartments littered across the country, a former official said on Saturday, in a rare public critique of the country's crisis-hit property market.

China's property sector, once the pillar of the economy, has slumped since 2021 when real estate giant China Evergrande Group (3333.HK) defaulted on its debt obligations following a clampdown on new borrowing.

Big-name developers such as Country Garden Holdings (2007.HK) continue to teeter close to default even to this day, keeping home-buyer sentiment depressed.

As of the end of August, the combined floor area of unsold homes stood at 648 million square metres (7 billion square feet), the latest data from the National Bureau of Statistics (NBS) show.
That would be equal to 7.2 million homes, according to Reuters calculations, based on the average home size of 90 square metres.

That does not count the numerous residential projects that have already been sold but not yet completed due to cash-flow problems, or the multiple homes purchased by speculators in the last market upturn in 2016 that remain vacant, which together make up the bulk of unused space, experts estimate.

"How many vacant homes are there now? Each expert gives a very different number, with the most extreme believing the current number of vacant homes are enough for 3 billion people," said He Keng, 81, a former deputy head of the statistics bureau.

"That estimate might be a bit much, but 1.4 billion people probably can't fill them," He said at a forum in the southern Chinese city Dongguan, according to a video released by the official media China News Service.


His negative view of the economically significant sector at a public forum stands in sharp contrast to the official narrative that the Chinese economy is "resilient".

"All sorts of comments predicting the collapse of China's economy keep surfacing every now and then, but what has collapsed is such rhetoric, not China's economy," a spokesperson at the foreign ministry said at a recent news conference.

Reporting by Albee Zhang and Ryan Woo; Editing by Jan Harvey

 

[cocobobo]

Simple solution... fill with people from rohingya, Ukraine, Syria, Somalia, Yemen etc

 

[Hypocrite-The]

Have a shitca policy or a nigger policy like singkieland and those houses will be sold out within a day

 

[blackmondy]

You want to stay in an abandoned, half-completed house like these tiongs meh ?

 

[blackmondy]

 

[congo9]

Most of them are 烂尾楼。

 

[Pinkieslut]

Just give shitizenship to overseas chinks ask them buy properties. Many Sinkies will buy buy buy.

 

[congo9]

China is a s***** country. All the people rich and poor ones to get out of the system. Some choose to do it legally and move illegally into USA via Mexico.

Some choose to move with dignity with a lot of cash.

Some ladies choose to move out by marrying out of the nation. They marry the blacks too.

 

[myfoot123]

Simple solution. Allow each person to own additional home for FREE and soon the population will spike with more babies.

 

[eatshitndie]

Just give shitizenship to overseas chinks ask them buy properties. Many Sinkies will buy buy buy.

only 69-year lease. no calculating overseas chink will buy.

 

[laksaboy]

How many Tiongs died during Wuhan and the two years of draconian lockdowns? You will never know the truth until the CCP regime collapses, similar to the Chernobyl incident. The commies will always lie to you and put a positive spin in all that they do.

 

[millim6868]

Like our pigeon holes shortage ,cis papigs push up price but eventually will be worthless, like wat jinx said ,just take it as advance rental,lol,for those that bought at high rate,sad as sinkies, if u try to downgrade ,old units are worth less then a smaller unit

 

[syed putra]

Solution is simple. CECAS need places to stay and work.

 

[millim6868]

Lol, so many poor ppl from hdb upgrade to EC ,all should be 60 % dumb sinkies,they shouks stay in their hdb,before lky go haywire, I think he dying n sontild on TV to tell sinkies don sell Yr hdb ,actually it's a hint cos he knew Papig plan, sad for those suckers

 

[Boonsiong]

Eventually these empty houses will be converted to pig dens for China farmers to breed hogs

 

[duluxe]

@superpower and @tanwahtiu should invest a few units. The real estate price will shoot up when the country attained superpower status.

 

[eatshitndie]

if ccp prc is so good and powderful, why so many 六毛九 ccp cocksuckers and prc porlumpars here don’t go to tiongcock to buy these homes to help the housing market? as usual no action talk only.

 

[gingerlyn]

if ccp prc is so good and powderful, why so many 六毛九 ccp cocksuckers and prc porlumpars here don’t go to tiongcock to buy these homes to help the housing market? as usual no action talk only.

very effective bilingual

 

[duluxe]

Eventually these empty houses will be converted to pig dens for China farmers to breed hogs

They are already being used to house abandoned EV cars.