Beijing No 1 in housing unaffordability: study
Rising property prices in China’s major cities have scared off many young people and the situation is only becoming worse as rent in those cities is becoming unaffordable.
Statistics for rent in 42 major cities show that Beijing, Shanghai and Shenzhen — cities in the first tier — take the lead in housing rent nationwide. Beijing is at the top of the list of housing unaffordability in China for the third straight year, according to a report released by real estate services firm E-House China.
The average monthly rent in Beijing has already hit $10.86 per square meter per month. To rent a 100-square meter house in Beijing, it would cost $1,067. The price is much higher in regions closer to the city center.
Beijing was at the bottom of another list: China’s most livable cities.
The city of Qingdao was the most livable city among of 40 cities surveyed by the Chinese Academy of Sciences.
A flamingo chick is seen at the Nanning Zoo in South China’s Guangxi Zhuang autonomous region, on Wednesday. The baby bird was hatched on June 4.