Summary：Nine out of ten Chinese families own at least one apartment, according to a survey organized by the central bank.
Economic Observer Online May 16, 2012 Translated by Tang Xiangyang Original article: [Chinese]
Nine out of ten Chinese families own at least one apartment, according to a survey organized by the central bank.
The survey found that, on average, Chinese sell their first homes for four times the price they paid. The average return on investment for second homes was lower, but still above 100 percent.
The People’s Bank of China, which worked with researchers from the Southwestern University of Finance and Economics, found that home ownership is more common in rural areas than in town and cities and is higher in inland provinces that in the east.
The researchers assessed 3,996 urban households and found that 85 percent of them owned their own homes, compared to 95 percent in rural areas.
They also reported that Chinese families tend to keep most of their savings on deposit at banks.