Young Chinese Seek Affordability in “Ghost Cities”
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Young Chinese Seek Affordability in "Ghost Cities"
- A growing number of young Chinese are moving to smaller, often underoccupied cities, driven by plummeting real estate prices and a desire to escape the intense pressures of major urban centers.
- This trend represents a shift from previous generations' pursuit of upward mobility in megacities, with individuals like 28-year-old Sasa Chen finding early retirement possible due to low living costs in places like a "faux Venice" development in Jiangsu province.
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China’s “ghost cities,” often newly built property developments with low occupancy, are increasingly attracting young people seeking an alternative to the high cost of living and fierce competition in major urban hubs. These underoccupied areas, sometimes criticized as overdevelopment, are now offering affordable housing, with some apartments costing less than cars. This phenomenon marks a notable change from past decades when young Chinese flocked to booming megacities for career opportunities.
The shift is fueled by several factors, including a cooling economy, rising youth unemployment, and widespread burnout from demanding work cultures often involving long hours. For example, Beijing lost 1.6 million people in their twenties and early thirties between 2019 and 2024. The high cost of housing in top-tier cities like Shanghai and Beijing, coupled with societal pressure for homeownership, has made it difficult for young people to achieve financial independence without substantial parental support.
Many of these “ghost cities” were initially built as ambitious urbanization projects, sometimes ahead of demand, with the government aiming to increase the nation’s urbanization rate. While some, like Ordos Kangbashi, were once widely cited as examples of empty developments, others, such as Zhengdong New Area, have since become populated, reaching 1.3 million residents by 2023. However, the recent economic slowdown and property market downturn have led to plummeting real estate prices in many smaller cities, making them attractive to young individuals prioritizing a better work-life balance and lower living expenses.