LINE

Text:AAAPrint
ECNS Wire

Policy advisor sees big potential for growth in housing market

1
2018-10-17 16:37:03Ecns.cn Editor : Mo Hong'e ECNS App Download

(ECNS) - There's still much space for development in Chinese housing market due to the small size of homes, said Gu Yunchang, deputy director of a housing policy committee at the Ministry of Housing and Urban-Rural Development, on Wednesday.

Gu, also chairman of China Real Estate Chamber of Commerce, said the Chinese have 1.1 homes on average, but the building area per capita is 35 to 40 square meters. In developed countries, floor area per capita is used to measure the adequacy of living space, so China is lagging by about 25 to 30 percent, he said.

He also said ongoing urbanization also means a huge demand for more homes.

Gu said China’s real estate market also has development potential to an aging society, and the growing number smaller families and one-person households. 

Single-person households account for 15 to 20 percent of home ownership in developed countries, but in China it’s around 6 to 7 percent, so demand for houses with continue, according to Gu.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.