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Vacant != on the market. I know a few people living in china, all of whom own more apartments than they can use (in the same neighborhoods no less, so it's not
by ladberg 6y ago
Vacant != on the market. I know a few people living in china, all of whom own more apartments than they can use (in the same neighborhoods no less, so it's not even vacation homes).
They do it because it's the best way to invest their savings, so new apartments are usually spoken for before they're even built and often unoccupied until they're sold again.
- pmiller2 6y agoIs it legal for private citizens to rent out vacant housing units in China? If so, that doesn't surprise me very much. Every landlord has more housing units than they can use.
- ladberg 6y agoYes it's legal but the people I've talked to don't do it. There's a stigma of renting over buying so the rent/home value ratio is way off compared to the US. Renting out the homes wouldn't really net much profit overall and they don't want to deal with being a landlord anyway, so they let the apartments sit empty.
- ricardobayes 6y agoIt is impossible to get married in China if the bride doesn't own property. The family won't allow it.