It sounds enormous until you consider their population size and urbanization rate. At the rate of 0.75% per year, it equals to 10.5 million people a year. Assum

It sounds enormous until you consider their population size and urbanization rate. At the rate of 0.75% per year, it equals to 10.5 million people a year. Assuming 40 square metres per person, the stock only lasts about 5 years. In addition, real estate is the preferred investment vehicle among the older and on average wealthier segment of the population. "Urbanisation in China increased in speed following the initiation of the reform and opening policy. By the end of 2017, 59.4% of the total population lived in urban areas, a dramatic increase from 26% in 1990." https://en.m.wikipedia.org/wiki/Urbanization_in_China https://en.m.wikipedia.org/wiki/Urbanization_in_China