Amid the Chinese high rises is a rising force in China’s housing market.
Women are shaking up traditional Chinese norms and are buying homes on their own.
“Traditionally, you’d think that women only buy homes when they get married, or that their husbands will buy the homes,” said a woman named Dong, who chose not to share her last name.
“But I don’t think that’s the case now. I’m not getting married any time soon, but you don’t have to get married to buy a home.”
Now there are numbers to back up this trend.
According to a report by Chinese online real estate platform Beike, more than 47% of single Chinese women over the age of 30 have purchased homes of their own, and more than 20% have a second home.
Lu Wenxi is a senior analyst with Hong Kong-based property agency Centaline Property. He says many factors are at play here.
“First is the rising status of women in the workplace. Women’s income is also rising, so their economic independence is increasing and they have more choices,” Wenxi said. “Secondly, investing in the property market is a relatively good choice.”
Then, there are increasingly stringent restrictions on home-buying in China — attempts to cool down the housing market and surging prices.
“Many people want to buy when they are single – no matter whether they are men or women — because after they get married, they can only buy one new home as a family,” Wenxi said.
The report also finds women home buyers get some financial help, with about 45% of them supported by their parents.
For buyers like Dong, finding a home is also about finding independence.
“I get my own space to live in,” she said.