News Snapshot:
Owning an apartment has been mandatory for newlyweds for years. If a couple could not afford to put down a deposit on their own, their parents would help. High-rise apartments, usually with two bedrooms, are the most common dwellings in China, where most people live in cities and, on average, still have one child. Houses with backyards are rare. China has one of the world’s largest homeownership rates. Government data shows this hit 90 per cent in 2020, and property accounts for 70 per cent of Chinese household wealth. Buying a second property as an investment also became popular as...
