#1
#1 out of 1
business7h ago
As China's economy slows, some are snapping up cheap apartments to 'retire' early
- Young Chinese workers are moving from megacities to cheaper towns as the economy cools and unemployment rises.
- The Life in Venice project now hosts mostly vacant units, yet a few residents still live there for its low rent and sea views.
- One resident, Chen, pays about 168 dollars monthly and plans to live there long-term without working.
- Experts say moving to cheaper towns is part of a broader trend away from the traditional city-driven ascent.
- Some young people join the 'lying flat' movement, rejecting the corporate race for a low-desire lifestyle.
- Housing in new towns can cost far less than in big cities, enabling longer retirement and fewer work hours.
- The market downturn left Evergrande bankrupt in 2024 and reduced demand for the estate.
- Young workers cite long hours in big firms as a reason to pursue life farther from urban centers.
- Some relocate to towns like Hegang where housing is cheaper than cars, expanding options for buyers.
- Analysts note the exodus reflects a shift in expectations amid slowed growth and rising costs.
Vote 0