Commentary

China's love affair with property not over despite downturn

The economy has grown increasingly reliant on property, leading to the common refrain that the housing market is simply too big to fail. PHOTO: AFP
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SINGAPORE - Real estate ownership is widely viewed the world over as a good way to grow generational wealth.

In China, this love affair with property is particularly entrenched. Amid a dearth of investment alternatives onshore, housing assets account for a staggering 70 per cent of urban family wealth as at 2019.

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