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50m apartments, a fifth of China's homes are empty, Real Estate

50m apartments, a fifth of China's homes are empty, Real Estate

Chinese President Xi Jinping's mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

[HONG KONG] Chinese President Xi Jinping's mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

"There's no other single country with such a high vacancy rate," said Prof Gan, of Chengdu's Southwestern University of Finance and Economics.

Thousands of researchers fanned out across 363 counties last year as part of the China Household Finance Survey, which Prof Gan runs at the university.

The 2013 study showed 49 million vacant homes, and Prof Gan puts that number now at "definitely more than 50 million units."

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