China's youth flocking to fourth-tier cities where property prices are 'as cheap as cabbages'
Young people in China are increasingly flocking to poorer regions in search of rock-bottom housing as the property slump continues. Fuxin is a city tucked away in the northeast, or China's "rust belt" —just a two and a half hour train ride from Beijing. According to data from Anjuke, one of China's largest real estate platforms, second-hand flats in Fuxin average at about US$590 per square metre. That’s compared to an average of US$7,000 in Shanghai and about US$5,000 in third-tier city Xiamen. In the final part of a three-part special on China's housing market, CNA's Lauren Ong takes a close look at this trend.
Young people in China are increasingly flocking to poorer regions in search of rock-bottom housing as the property slump continues. Fuxin is a city tucked away in the northeast, or China's "rust belt" —just a two and a half hour train ride from Beijing. According to data from Anjuke, one of China's largest real estate platforms, second-hand flats in Fuxin average at about US$590 per square metre. That’s compared to an average of US$7,000 in Shanghai and about US$5,000 in third-tier city Xiamen. In the final part of a three-part special on China's housing market, CNA's Lauren Ong takes a close look at this trend.
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