China to need housing space until 2030

China to need housing space until 2030
09/08/2016 , by , in INTERNATIONAL

Fitch ratings had revealed that China needs to build residential property space that is 800 million square meters, every year until 2030.

Fitch’s estimates come at a time of reports of overbuilding and unsold housing stock in many areas in China. It is based on the assumption that over one-third of new demand will be driven by the demolition of all properties built before 1990, while demand from marriage driven first-time buyers will decline after peaking in 2013.

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