People aged 26-30 to drive home purchasing
12/3/2003 14:23
Local home buyers aged 26-30 accounted for more than 15 percent of
the total home buyers in Shanghai at the end of last year, injecting new life
into the city's prosperous real estate market, the Youth Post reported
today.
According to a survey of 1,000 home buyers aged between 26 and 30,
66.3 percent of them have a monthly household income, in most cases from two
salary earners, of more than 6,000 yuan (US$723), nearly on a par with people
aged from 31 to 35.
Most people in the younger group want to buy houses
priced around 500,000 yuan and hold mortgages for more than 20 years, the survey
indicated.
Many people in the 31-35 group, previously considered the main
real estate demographic, have bought homes in the past several years, so the
26-30 age group is now expected to become the main force in the local property
market, said a survey analyst.
Home buyers aged 26-30 have the courage to
spend tomorrow's money due to confidence and optimism about their career
prospects, the analyst said. But they are less aware of the potential risks, he
added.
This group gives increased importance to the capabilities of
property developers, qualities of neighbors and facilities in residential
quarters when buying homes, according to the survey.
According to
statistics, in 2001 there were 1.353 million local people aged between 20 and
24, and 1.354 million aged 25-29. The population in the 26-30 age group will
stabilize within five years, the analyst said.
Wendy Zhang/ Shanghai Daily news
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