} ?>
(Yicai Global) June 13 -- Most of China's college or university graduates plan to buy property in the future but are currently living on rent and two-fifths of them need money from parents to cover their monthly living costs.
Some 95 percent of graduates want to buy a home, but 70 percent of them are currently tenants, China News Service reported today, citing a survey done by classifieds website 58.Com and real estate platform Anjuke. They studied youth in 15 Chinese cities, most of which were new first-tier ones, including Chengdu, Hangzhou, and Chongqing.
Rents generally hovered between CNY800 and CNY1,800 (USD116 up) and averaged at CNY1,670. About 81 percent of the youth paid their rent by salaries, while 43 percent of them were still supported by their parents who paid from 20 percent to 50 percent of their rental fees. One-quarter relied on credit cards to settle such monthly costs.
Over three-quarters of graduates wished to buy property in the city where they work and 16 percent of them said they want to return to their hometown to do so.
Editor: Emmi Laine