POLITICS

&

SOCIETYSocialhousinginChinaCHAPTER

01OverviewTotalpopulationofChinafrom1980to2022withforecastsuntil2028(inmillions)TotalpopulationofChina1980-20281,5001,4001,3001,2001,1001,0009003Description:AccordingtodataprovidedbytheNationalBureauofStatisticsofChinainJanuary2023,theChinesepopulationdecreasedby850,000peopletoaround1,411.75millionin2022.ThiswasthefirstpopulationdeclineinChinasince1961.AsthebirthrateinChinahasbeendecliningoverthelastdecades,theonlypointinquestionwaswhenexactlypopulationgrowthwouldturnnegativeforthefirsttime.Chinaarrivedatthisturningpointearlierandmoreclearlythanexpected,withIMF[...]ReadmoreNote(s):China;1980to2022;*Estimate.ReadmoreSource(s):CEIC;IMF;NationalBureauofStatisticsofChinaDegreeofurbanizationinChinafrom1980to2022UrbanizationinChina1980-202270%65.22%64.72%63.89%62.71%61.5%60.24%58.84%60%50%40%30%20%10%57.33%55.75%54.49%53.1%51.83%49.95%42.99%36.22%29.04%26.41%199023.71%198519.39%198019952000200520102011201220132014201520162017201820192020202120224Description:In2022,approximately65.2percentofthetotalpopulationinChinalivedincities.TheurbanizationratehasincreasedsteadilyinChinaoverthelastdecades.ReadmoreNote(s):China;1980to2022Source(s):NationalBureauofStatisticsofChinaAveragerealestatesalepriceofresidentialrealestateinChinabetween2012and2022(inyuanpersquaremeter)AveragerealestatesalepriceofresidentialrealestateinChina2012-202212,00010,0008,0006,0004,0002,0000201220132014201520162017201820192020202120225Description:ThestatisticshowstheaveragerealestatesalepriceofresidentialrealestateinChinabetween2012and2022.In2022,onesquaremeterofrealestateinChinacost,onaverage9,991yuan.

ReadmoreNote(s):China;2012to2022Source(s):NationalBureauofStatisticsofChinaNumberofhouseholdsinChinain2020,byhousingsourceNumberofhouseholdsinChina2020,byhousingsourceNumberofhouseholds05,000,00010,000,00015,000,00020,000,00025,000,000Self-builthousingPurchasednewlybuiltcommercialresidentialhousingRentingotherhousing21,076,4819,554,5105,605,091Purchasedsecond-handhousingOther3,125,0071,893,4561,831,6551,179,9571,075,507449,641PurchasedformerpublichousingPurchasedeconomicallyaffordablehousingRentinglow-renthousing/publicrentalhousingInheritanceorgift6Description:In2020,around9.6millionhouseholdsinChinawerelivinginpurchasednewlybuiltcommercialresidentialhousesorapartments.Incomparison,over21millionhouseholdslivedinself-builthouses.ReadmoreNote(s):China;2020Source(s):NationalBureauofStatisticsofChinaPercapitalivingspaceinurbanareasofBeijing,Chinafrom2008to2021(insquaremeters)PercapitalivingspaceinurbanBeijing2008-2021403533.433.0832.3832.5632.5432.631.5431.6931.3129.3829.2628.943025201510527.6926.90200820092010201120122013201420152016201720182019202020217Description:In2021,percapitalivingspaceofurbanhouseholdsinBeijingmunicipalityinChinaamountedtoaround33.4squaremeters.TheaveragelivingspaceperpersonforurbanareasinChinaasawholereached39.8squaremetersin2019.

ReadmoreNote(s):China;2008to2021Source(s):BeijingMunicipalBureauofStatisticsNumberofhouseholdssubmittingnewapplicationsforindemnificatoryhousinginBeijing,Chinabetween2017and2021(in1,000s)NumberofhouseholdssubmittingnewsocialhousingapplicationsinBeijing2017-20216051485040302010040.536.733201720182019202020218Description:In2021,morethan36thousandhouseholdsinBeijing,Chinasubmittednewapplicationsforindemnificatoryhousing,representingadropofalmost4,000fromthepreviousyear.AstherealestatemarketinBeijingishighlycompetitive,socialhousingcanbevitalforresidentswithlowerincomes.ReadmoreNote(s):China;2017to2021Source(s):BeijingMunicipalCommissionofHousingandUrban-RuralDevelopmentDistributionofgovernment-subsidizedhousingcompletedinNanjing,ChinabetweenJanuaryandOctober2023,byunitbuiltBreakdownofsubsidizedhousingcompletedinNanjing,China2023,byunitbuiltSubsidizedrentalhousing30.84%Housingbuiltthroughurbanrenewalprojects69.16%9Description:BetweenJanuaryandOctober2023,almost70percentofallpubliclysubsidizedhousinginNanjing,Chinawasbuiltthroughurbanrenewalprojects,whiletheremaining30.84percentweresubsidizedrentalhousing,whereresidentscouldnotgainownershipoftheapartments.Ashousingcostsinmanymajorcitieshaverisensignificantlyinrecentyears,socialhousingisincreasinglyimportantforlow-incomeurbanresidentsinChina.ReadmoreNote(s):China;JanuarytoOctober2023Source(s):NanjingMunicipalBureauofHousing;CHAPTER

02HousingburdenPercapitaexpenditureofprivatehouseholdsinChinaonaccommodationin2021,byregion(inyuan)PercapitaexpenditureofhouseholdsinChinaonaccommodationbyregion2021Expenditureinyuan8,000

10,00002,0004,0006,00012,00014,00016,00018,00020,000BeijingShanghaiZhejiangFujian18,38217,369.511,306.610,349.510,321.49,696.4JiangsuGuangdongTianjin8,315Hainan6,721.16,538.8TibetHubei6,241.9ShandongHebei6,198.96,108.3Yunnan5,952.511Description:In2021,annualhouseholdexpenditureforhousinginBeijingwasover18thousandyuan.ItwasthehighestinChina,wherethenationalaveragehousingcostwas7405.3yuan.ReadmoreNote(s):China;2021Source(s):NationalBureauofStatisticsofChinaAverageannualpercapitadisposableincomeofurbanandruralhouseholdsinChinafrom1990to2022(inyuan)PercapitadisposableincomeinurbanandruralChina1990-2022UrbanhouseholdsRuralhouseholds60,00050,00040,00030,00020,00010,000019902000201020112012201320142015201620172018201920202021202212Description:In2022,theaverageannualpercapitadisposableincomeofruralhouseholdsinChinawasapproximately20,133yuan,roughly40percentoftheincomeofurbanhouseholds.AlthoughlivingstandardsinChina`sruralareashaveimprovedsignificantlyoverthepast20years,theincomegapbetweenruralandurbanhouseholdsisstilllarge.ReadmoreNote(s):China;1990to2022Source(s):NationalBureauofStatisticsofChinaValueofpersonalhousingloansinChinafrom2015to2022(intrillionyuan)ValueofpersonalhousingloansChina2015-20224540353038.838.3234.4430.0725.752521.9191820150201620172018201920202021202213Description:In2022,thevalueofpersonalhousingloansinChinaamountedto38.8trillionyuanwhichwasanincreaseof1.2percentcomparedtothepreviousyear.Personalhousingloansmakeupthelargestshareofrealestateloansinthecountry.Anothersignificantshareisrealestatedevelopmentloans.ReadmoreNote(s):China;2015to2022Source(s):People'sBankofChinaAveragepriceofnewlybuiltresidentialpropertyinShanghai,Chinain2022,bylocation(inyuanpersquaremeter)AveragepriceofnewlybuiltresidentialpropertiesinShanghai2022,bylocation140,000119,244120,000100,00080,00060,00040,00020,000093,77348,461WithintheinnerringBetweentheinnerandouterringOutsidetheouterring14Description:In2022,thepricefornewresidentialpropertyinShanghai'sinnerringdroppedbymorethan4,000yuanpersquaremeter,to119,244thousandyuanpersquaremeter.Althoughthelocalauthoritiesintroducedpoliciestostabilizethemarket,therealestatemarketinShanghai`scentraldistrictsremainedunderdownwardpressure,similartothoseexperiencedbyothermajorcitiesinChina.ReadmoreNote(s):China;2022Source(s):ShanghaiMunicipalStatisticsBureauShareofincomespentonrentbyrentersinShanghai,Chinaasof2022,bytypeofaccomodationrentedAccomodationcostsofrentersinShanghaiasof2022,bytypeofhousing30%26.2%25%23.2%20%15%10%5%0%CompleteapartmentrentersSharedapartmentrenters15Description:AccordingtoasurveyfocusingonrentersinChina'smajorcities,asofearly2022,rentersinShanghaidedicatedaroundone-fourthoftheirincomestorentpayments.Renterswholivedincompleteapartmentsreservedaslightlyhigherportionoftheirincomeforrentpaymentsthantheircounterpartssharingapartmentswithflatmates.ReadmoreNote(s):China;6240respondents;thenumberofrespondentsappliesfortenmajorcitiesSource(s):BeikeResearchInstitute;TsinghuaUniversity(DepartmentofArchitecture)NumberofurbanhouseholdsinBeijing,China,in2020,bymonthlyrentalcostNumberofurbanhouseholdsinBeijing,China,2020,bymonthlyrentalcostNumberofhouseholds15,000

20,00005,00010,00025,00024,68630,00035,00040,00045,000Under200yuan200-499yuan10,954500-999yuan27,2291,000-1,999yuan2,000-2,999yuan3,000-3,999yuan4,000-5,999yuan6,000-7,999yuan8,000-9,999yuan10,000yuanandabove41,46927,43425,68733,64418,6286,1296,13916Description:In2020,around41.5thousandurbanhouseholdsinBeijing,Chinaspent1,000to1,999yuanpermonthonrentingapartments.Meanwhile,themonthlyrentalcostsforover33.6thousandurbanhouseholdswerebetween3,000to3,999yuan.

ReadmoreNote(s):China;2020Source(s):NationalBureauofStatisticsofChinaCHAPTER

03UrbanrenewalandaffordablehousingpurchasesNumberofhousingunitsthatwerestartedtoberebuiltinurbanrenewalprojectsinChinafrom2016to2022(inmillions)NumberofhousingunitreconstructionsinrundownurbanareasinChina2016-202276.266.066.0965432103.162.091.651.34201620172018201920202021202218Description:In2022,only1.34millionhousingunitswerestartedtoberebuiltinrundownurbanareasinChina,representingafurtherdropofalmost19percentfromthepreviousyear.UrbanrenewalprojectswerecommonacrossmajorcitiesinChinainthelasttwodecades,asthecitycenters,despitetheirunsatisfactorybuildingquality,usuallyhadsignificantlyhigherrealestatevalue.However,localgovernmentsnowtendtomonetarilyreimbursehomeownersforacquiringthelandinsteadof[...]

ReadmoreNote(s):China;2016to2022Source(s):NationalBureauofStatisticsofChinaNumberofhousingunitsbasicallycompletedinurbanrenewalprojectsinChinafrom2016to2022(inmillions)NumberofhousingunitcompletedinrundownurbanareasinChina2016-202276.586.0465432105.112.542.032.051.812016*20172018201920202021202219Description:In2022,1.81millionhousingunitswererebuiltinrundownurbanareasinChina,representingafurtherdropofmorethantenpercentfromthepreviousyear.UrbanrenewalprojectswerewidelyimplementedacrossChinainthelasttwodecades,ascentralareasinmajorcitiesusuallyhadhigherlandvalueandunsatisfactorybuildingquality.However,localauthoritiesnowtendtomonetarilyreimbursehomeownersforthelandinsteadofprovidingnewhousingunitsafterthereconstruction.ReadmoreNote(s):China;2016to2022;*2016figureincludescompletedpublicrentalhousingunits.Figuresforearlieryearshavebeentakenfrompreviouspublications.ReadmoreSource(s):NationalBureauofStatisticsofChinaCentralgovernmentsubsidiesassignedforrebuildingofrundownurbanareasinChinain2022,byregion(inmillionyuan)CentralgovernmentsubsidiesforurbanrenewalprojectsinChina2022,byregionFinancialsubsidiesinmillionyuan02004006008001,0001,2001,400Jiangsu1,179.31Hebei1,040.07Xinjiang968.8HenanAnhui874.73851.44Gansu702.86Jiangxi632.02Shandong(excludingQingdao)558.07YunnanFujian(excludingXiamen)Sichuan446.07399.22312.61265.68233.2HubeiHunan20Description:In2022,China'scentralgovernmentdesignated10billionyuanoffundingfortheredevelopmentofrundownurbanareas.Receivingalmost1.18billionyuan,theeasternprovinceofJiangsubenefitedthemostfromcentralgovernmentsubsidies,followedbyHebeiandXinjiang.ReadmoreNote(s):China;2022Source(s):;MinistryofFinanceofthePeople'sRepublicofChina;MOHURD(China)AnnualissuancevalueofspecialbondsdedicatedforrebuildingofrundownurbanareasinChinabetween2018andJuly2022(inbillionyuan)IssuancevalueofspecialbondsforurbanrenewalinChina2018-2022800704.4700600500444.1394.54003002001000314.5296.220182019202020212022*21Description:In2021,localgovernmentsacrossChinaissuedmorethan440billionyuanworthofspecialbondsdedicatedforthereconstructionofrundownurbanareas,representinganincreaseofaround50billionyuanfromthepreviousyear.Whilestandingonlandwithhighervalue,residentialhousingintheheartofmajorChinesecitiescanoftenbefoundinrundownconditions.Overthelasttwodecades,localgovernmentsacrossChinaregularlycooperatedwithrealestatedeveloperstodemolish[...]

ReadmoreNote(s):China;2018toJuly26,2022;*BetweenJanuary1andJuly26,2022.Oneyuanequalstoapproximately0.14U.S.dollarsand0.13euros(asofNovember2023).

ReadmoreSource(s):21stCenturyBusinessHerald;WindInformationShareofspecialbondsdedicatedforrebuildingofrundownurbanareasinallspecialbondsissuedinChinabetween2018andJuly2022ShareofurbanrenewalbondsinallspecialbondsinChina2018-202235%33%30%25%20%15%10%5%23%12%10.5%20208%2018201920212022*22Description:In2021,localgovernmentsinChinaissued444.1billionyuanworthofspecialbondsdedicatedforurbanrenewalprojects,representing12percentofallspecialbondsissuedinChinaduringtheyear.ResidentialhousingincentersofmajorChinesecitiescanoftenbefoundinrundownconditions,andformorethantwodecades,localgovernmentsregularlycooperatedwithrealestatefirmstodemolishrundownneighborhoodsbeforebuildinghigh-riseapartmentsforsale.Ownersofthe[...]

ReadmoreNote(s):China;2018toJuly26,2022;*BetweenJanuary1andJuly26,2022.ReadmoreSource(s):21stCenturyBusinessHerald;WindInformationNumberofhouseholdslivinginpurchasedeconomicallyaffordablehousinginChinain2020,byprovinceNumberofhouseholdslivinginaffordablehousinginChina2020,byprovinceNumberofhouseholds80,000

100,000020,00040,00060,000120,000140,000160,000180,000200,000JiangsuZhejiangSichuanHeilongjiangShandongHenan184,63291,17471,73168,51559,64954,58350,46445,52944,43742,179XinjiangBeijingShanxiChongqingShaanxiHubei41,28239,79839,194Hunan23Description:In2020,around185thousandhouseholdsinJiangsu,China,werelivingineconomicallyaffordablehousestheybought,leadingotherprovincesbyawidemargin.Nationwide,therewerearound1.18millionhouseholdsintotallivinginaffordablehousingtheypurchased.ReadmoreNote(s):China;2020Source(s):NationalBureauofStatisticsofChinaNumberofhousingunitsofferedthroughthesharedownershipschemeinBeijing,Chinabetween2018and2021NumberofsharedownershipapartmentslistedinBeijing,China2018-202130,00025,80025,00020,00015,00012,50012,0009,781202110,0005,000020182019202024Description:In2021,9,781sharedownershipapartmentunitswerelistedinBeijing,Chinarepresentingadropofmorethan2,700fromthepreviousyear.ThesharedownershipschemewasintroducedinChinain2017,throughwhicheligibleurbanresidentscanpurchasepartialownershiprightsofcertainapartmentsjointlywithlocalauthorities.ReadmoreNote(s):China;2018to2021Source(s):BeijingMunicipalCommissionofHousingandUrban-RuralDevelopmentCHAPTER

04SubsidizedrentalhousingNumberofhouseholdslivinginlow-costrentalhousingorpublicrentalhousinginChinain2020,byprovinceNumberofhouseholdsinlow-renthousinginChina2020,byprovinceNumberofhouseholds100,000050,000150,000200,000250,000GuangdongZhejiangYunnanSichuanJiangsu190,99698,75152,82347,67746,409ChongqingBeijing43,60439,712JiangxiHenanXinjiangFujian38,60438,26737,95134,555AnhuiShanghai34,27633,61426Description:In2020,around191thousandhouseholdsinGuangdongprovincewerelivinginlow-rentorpublicrentalhousing,leadingotherprovincesbyawidemargin.Nationwide,therewerearound1.1millionhouseholdsintotallivinginlow-costrentalorpublicrentalhousing.ReadmoreNote(s):China;2020Source(s):NationalBureauofStatisticsofChinaConstructiontargetsofsubsidizedrentalhousingunitsinselectedcitiesinChinabetween2021and2025(in1,000s)SubsidizedrentalhousingconstructiontargetsinselectedChinesecities2021-2025Numberofhousingunitsinthousands300

4000100200500600600600700ShenzhenGuangzhouShanghaiBeijing470400400ChongqingHangzhouXi'an330300ChengduNanjing25012527Description:Between2021and2025,around8.7millionsubsidizedrentalapartmentsareplannedinChina.Aspartofthecountry'ssocialhousingsystem,mostsubsidizedrentalunitsarelocatedinmajorurbanareas,wheretherealestatemarketsarelessaffordable.First-tiercities,includingShenzhen,Guangzhou,Shanghai,andBeijinghadthehighestnumberofunitsplanned.ReadmoreNote(s):China;2021to2025Source(s):Sohu;ThePaperCentralgovernmentsubsidiesassignedforrentalsupportsinurbanareasinChinain2022,byregion(inmillionyuan)CentralgovernmentsubsidiesforurbanrentalsupportsinChina2022,byregionFinancialsubsidiesinmillionyuan05001,0001,5002,0002,5003,000Zhejiang(excludingNingbo)2,699.94XinjiangJiangsuJiangxi1,764.511,703.791,693.14Yunnan1,383.881,353.22Guangdong(excludingShenzhen)HeilongjiangAnhui1,258.191,088.991,053.88GuizhouHunanGuangxiHenan991.9978.7863.18Sichuan570.0328Description:In2022,China'scentralgovernmentdesignated22.41billionyuanoffundingforrentalsupportinurbanareas.Withmorethan2.75billionyuan,theeasternprovinceofZhejiangbenefitedthemostfromcentralgovernmentsubsidies,followedbyXinjiangandJiangsu.ReadmoreNote(s):China;2022Source(s):;MinistryofFinanceofthePeople'sRepublicofChina;MOHURD(China)NumberofpublicrentalhousingunitsallocatedinBeijing,Chinabetween2017and2021(in1,000s)NumberofpublicrentalapartmentsdistributedinBeijing,China2017-20213532.33025201510522.814.512.911.602017201820192020202129Description:In2021,morethan22,000publicrentalhousingunitswereallocatedinBeijing,China,representingasignificantincreaseofalmost10,000fromthepreviousyear.PublicrentalhousinginChinaisallocatedbasedontheapplicant'spersonalcircumstances,includingincome,householdregistrationstatus(hukou),maritalstatus,etc.ReadmoreNote(s):China;2017to2021Source(s):BeijingMunicipalCommissionofHousingandUrban-RuralDevelopmentCHAPTER

05RegionalandinternationalcomparisonNumberofnewapartmentsproducedinHongKongfrom2006to2022,bytypeofpermanenthousing(in1,000s)NumberofnewflatsproducedHongKong2006-2022bytypeofpermanenthousingPublicpermanenthousingPrivatepermanenthousing50454035213025201510515212118141491725221918161614144020062011201620172018201920202021202231/statistics/630018/hong-kong-flat-production-by-type-of-permanent-housingIn2022,thenumberofnewlyconstructedpublicpermanenthousinginHongKongamountedto19,000.Thenumberofnewlyconstructedprivatehousingamountedto21,000.MorepublicpermanenthousingstockswerebuiltinHongKongsince2020.ReadmoreNote(s):2006to2022Source(s):CensusandStatisticsDepartmentHongKong;HongKongHousingAuthorityAveragelivingspaceofpublicrentalhousingtenantsinHongKongfrom2007to2023(insquaremetersperperson)AveragelivingspaceofPRHtenantsHongKong2007-20231613.813.613.5141210813.313.313.413.21312.912.512.264202007200920122014201720182019202020212022202332/statistics/630746/hong-kong-public-rental-housing-average-living-space-per-personAsofMarch2023,theaveragelivingspaceofpublicrentalhousingtenantsinHongKongwas13.8squaremetersperperson.Inthesameyear,theproportionofhouseholdswithlivingspaceperpersonbelow5.5squaremeterswas0.5percent.

ReadmoreNote(s):HongKong;2007to2023Source(s):CensusandStatisticsDepartmentHongKong;HongKongHousingAuthorityShareofpopulationlivinginpublichousingbytheHousingandDevelopmentBoard(HDB)inSingaporefrom2013to2022PopulationlivinginpublichousinginSingapore2013-202290%83%82%82%82%82%82%81%81%80%80%77%80%70%60%50%40%30%20%10%0%2012201320142015201620172018201920202021202233/statistics/966747/population-living-in-public-housing-singaporeIn2022,77percentoftheresidentpopulationinSingaporelivedinpublichousingundertheHousingandDevelopmentBoard(HDB).Theshareoftheresidentpopulationlivinginpublichousinghasbeenconstantlydecreasingintheperiodmeasured.ReadmoreNote(s):Singapore;2012to2022Source(s):Housing&DevelopmentBoard;SingaporeDepartmentofStatisticsProportionofhouseholdsoccupiedbysocialrentersinEnglandfrom2000to2022England:shareofsociallyrentedhouseholds2000-202225%20%15%10%5%0%2000

2001

2002

2003

2004

2005

2006

2007

2008

20