China Poll: Buying A House

The results of an Internet and phone survey conducted this fall by Chongqing Evening News' research center suggest that many Chinese are not considering buying a home in the immediate future.

Of the two hundred randomly sampled Internet users and readers of Chongqing Evening News, only 17% of respondents are planning to purchase a house within the next year, while 67% of respondents are not planning on purchasing a house within the next two years.

Chongqing Evening News also asked respondents what their main reason for purchasing a home would be:

50% of respondents said it would be to improve their living conditions
14% said it would be to be closer to their college or workplace
13% cited marriage and starting a family
12% said they would buy a home if they were moving to a new city
and only 9% said they would buy a house for investment purposes

Additionally, despite considerably higher housing prices in cities, 73% of those surveyed expressed that they would by a home in an urban area, while only 23% would be willing to live in the suburbs.

Finally, when respondents were asked how they would pay for a home, 63% said they would take out mortgage loans, 27% said they would be able to pay for a home up-front, and 10% would choose an installment plan.

Links and Sources
Chongqing Evening News: Original Report