The new real estate boom in smaller cities?
On April 9, China’s powerful economic management organ, the National Development and Reform Commission (NDRC), published a paper called Key tasks for urbanization in 2019 (PDF in Chinese). Among the recommendations: Cities with a population of 1 million to 3 million should scrap residency registration (hùkǒu 户口) requirements that prevent migrants from accessing social services.
Possibly based on Chinese media reports, Bloomberg predicts (porous paywall) that “property developers that focus on smaller cities in China are set to be the beneficiaries.”
Click on either link above for color on some of the real estate companies that may enjoy a new boom in cities with 1 million to 3 million residents. These include Taiyuan, Changsha, Suzhou, Fuzhou, Wuxi, Hefei, Dongguan, Xiamen, Ningbo, and Wenzhou, according to the 2017 urban and rural construction statistical yearbook (in Chinese).
