Manya Rathore
Research expert covering India
Social housing in China - statistics & facts
Since the end of the 1990s, when China discontinued its government-planned welfare housing allocation system and liberalized the housing market, China's real estate sector has been instrumental in the country's economic success story. It is now considered a pillar industry in China, contributing more than six percent of the country's gross domestic product (GDP) in 2024. However, the development of the industry has resulted in a prevalent increase in property prices across all regions of China, especially in major urban centers in the eastern part of the country, where property prices often become unaffordable for an average resident.
