Survey Showed Half of City’s Residents own their Homes

Survey Showed Half of City's Residents own their HomesCentaline Property recently conducted a survey that showed almost half of Shenzhen’s permanent residents own their homes. 35 percent of these homes were bought in the open market, 35 percent were built by residents in urban villages and 25 percent of the homes are government subsidized. The survey also showed that 40 percent of permanent resident’s lives in rented homes.

Among the city’s permanent residents 26 percent of them are holders of Shenzhen hukou and Shenzhen natives who came to live in Shenzhen in the 1980’s. These residents own an average of 388 square meters of housing floor space per capita compared to non hukou residents who account for 74 percent of the permanent population with only 10 square meters.

Centaline’s survey results was compared with another recent survey on home ownership in China which was conducted and released by Southwestern University of Finance and Economics with the cooperation of the People’s Bank of China. Their survey claims that 90 percent of the Chinese owns a home. This figure is way above the global rate of 60 percent which raised doubts from experts.

According to a research center of Midland Realty, the high ownership rate might be an exaggeration, the high percentage might have been based on a theoretical model and might have not considered factors such as population shifts and regional differences.

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