(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