China's housing glut casts pall over the economy

China's housing glut casts pall over the economy A building binge leaves cities with 65 million empty apartments https://lnkd.in/fHaycM8 ============================== Extract : Even in a so-called second-tier city like Jinan, a 100-sq.-meter apartment would cost him about 2 million yuan ($297,000). Yan, who makes roughly 6,000 yuan ( Rs 62,000 ) per month working for a local environmental nonprofit organization, is only able to afford half of that, despite years of saving and generous support from his parents. ============= That is : a 1076 sq ft flat for Rs 207.5 lakh ( Rs 19,289/ sq ft ) Now compare this with MHADA flats on sale in Mumbai : # EWS....... will cost less than Rs 20 lakh,.... [ 63 flats on sale ] # LIG......... from Rs 20-35 lakhs ..................... [ 126 on sale ] # MIG .......from Rs 35-50 lakhs ......................[ 201 on sale ] # HIG........ from Rs 60 - 580 lakhs ................ [ 194 on sale ] Anyone has any idea about flat sizes ( sq ft ) ? https://lnkd.in/fSk7BGD