The housing sector, underpinned by urbanization, is driving growth in China. At current rates of construction China can build a city the size of Rome in only two weeks. This means China is underpinning demand in global markets for many key commodities. It also means that any downturn will quickly register on Chinese GDP and global commodity markets.
In the decade leading up to 2010, China built the housing equivalent of roughly two Spains or United Kingdoms, or one Japan. In per capita terms, the average amount of floorspace enjoyed by urban Chinese has doubled over the same period.
So what does the future hold? Is China’s current housing boom sustainable or is it heading for a Dubai-style bust? Register to download this white paper to find out the future for China’s housing boom according to the Economist Intelligence Unit.