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Property builds Chinese household wealth
By Juwai, 25 September 2013
Here's a statistic from The Wall Street Journal that highlights how important property is as an investment vehicle for Chinese families.
It's no wonder real estate agents and developers around the world are selling so much property to Chinese buyers.
Chinese families have lower incomes and operate in a smaller economy than United States families. Yet, they have more household wealth.
How is this possible? It's because they save more and invest much of their savings in property.
International property investments help Chinese families build household wealth.
China numbers at a glance
- China's GDP is just half the US's GDP.
- Total net household wealth in China is 20% higher than the same figure in the US.
- One of the biggest components of Chinese net household wealth is property investments.
- In China, the top 1% make $91,000 and up. In the US, the top 1% make $506,000 or more.
Read the full article here.