China’s cemetery real estate industry has become more lucrative than its residential property market. The phenomenon has led many young people to preorder burial plots to cope with the soaring prices. Due to the high demand for burial plots, the price per square meter of some plots in Shanghai is already much higher than residential…
Young Chinese Reserve Burial Plots in Advance as Graves Cost More Than High-End Property
China’s Local Financial Shortfall to Reach 6 Trillion Yuan As Housing Market Plunges: Expert Predicts
The Chinese real estate market collapsed in July with all indices falling. An expert predicts that the real estate plunge, together with the economic slowdown, will lead to a financial shortage of 6 trillion yuan (about $889.6 billion) for local governments for the year, as the local governments’ revenues from land sales may be halved…
Chinese Land Sales Falls Significantly, Deepening Local Government Debt Stress
Chinese government land sales fell significantly through 2021, reversing a six-year streak of gains, as a cash crunch gripped the country’s most indebted developers and worsening local governments’ debt stress. Land sales in 2021 declined over 20 percent on average from a year earlier, with a deeper fall in the main development force of second-…
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