{"id":3893,"date":"2023-09-25T08:12:21","date_gmt":"2023-09-25T12:12:21","guid":{"rendered":"https:\/\/usa.businessupturn.com\/?p=3893"},"modified":"2023-09-25T12:56:22","modified_gmt":"2023-09-25T16:56:22","slug":"china-will-fall-short-of-population-to-fill-up-vacant-homes-ex-official-admits","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/china-will-fall-short-of-population-to-fill-up-vacant-homes-ex-official-admits\/3893\/","title":{"rendered":"China will fall short of population to fill up vacant homes, ex-official admits"},"content":{"rendered":"<p>China\u2019s whopping 1.4 billion population would not be enough to fill the vacant apartments spread across the country, as per a former official, who stated on Saturday in a rare critique towards the crisis-hit country\u2019s property market.<\/p>\n<p>The country\u2019s property sector, which is one of its pillar, has slumped its 2021 when real estate China Evergrande Group defaulted on its debt obligations following a clampdown on new borrowing.<\/p>\n<p>Another giant in the sector Country Garden Holdings continue to teeter close to being default even to this day, which has been having depressing effects on home-buyers\u2019 sentiments.<\/p>\n<p>As per the data acquired from National\u00a0 Bureau of Statistics, by the end of August, the combined floor area of unsold properties stood at 648 million square meter (approx. 7 billion square feet). As per the calculation made by Reuters, based on an average home size being 90 square meters, the area would sum up to be 7.2 million homes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s whopping 1.4 billion population would not be enough to fill the vacant apartments spread across the country, as per\u2026<\/p>\n","protected":false},"author":175,"featured_media":3894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[158,1042],"class_list":["post-3893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-china","tag-china-real-estate"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/3893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/175"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=3893"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/3893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/3894"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=3893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=3893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=3893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}