Most Young Chinese Want to Buy a Home Before Marriage But Men Should Bear the Cost, Report Says
Tang Shihua
DATE:  Aug 25 2020
/ SOURCE:  Yicai
Most Young Chinese Want to Buy a Home Before Marriage But Men Should Bear the Cost, Report Says Most Young Chinese Want to Buy a Home Before Marriage But Men Should Bear the Cost, Report Says

(Yicai Global) Aug. 25 -- Over 60 percent of young Chinese prefer to buy a home before settling down, but less than 40 percent of women would be willing to contribute to the cost, according to a recent survey.

Some 64.1 percent of respondents said that real estate is a must have before marriage, according to a report released by China’s largest online classified advertising site 58.Com and real estate data platform Anjuke yesterday.

Having a home before marriage would be the ideal scenario for 80.9 percent of people, as it brings a sense of security, the report said. Around 20 percent said they must have a house and car before marrying.

However, only 37.3 percent of women said they would be willing to contribute to the cost of the house purchase, the report said.

Some 47.1 percent agreed that the husband should make the downpayment and the couple should jointly repay the loan, the report said. More than half of the men were willing to pay the downpayment on their own and then repay the loan together with their wives.

Forty-four percent of those surveyed said that renting a home once married was also acceptable.

Mortgage repayments make up between 30 percent and 40 percent of almost two-thirds of the respondants’ overall monthly income, the report said.

In some first-tier cities, 15.3 percent of those surveyed said home repayments accounted for more than half of the family’s income.

Nearly 80 percent of young people in China tend to buy a new property as their ideal marital dwelling. Only 13.6 percent said it doesn’t matter whether the house is old or new. Some 62.1 percent choose to buy three-bedroom houses as their first home.

Editor: Kim Taylor

Follow Yicai Global on
Keywords:   Industry Poll,Property Purchase