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A fifth of China's housing is empty. That's five crore homes
The 2013 study showed 49 million vacant homes, and Gan puts that number now at definitely more than 50 million units. Housing speculation has bedeviled China's leaders for years, as some cities and provinces tightened buying restrictions only to see money flooding into other areas. Last month, Qiu Baoxing, a former vice housing minister, said the rate is 10 to 20 percent in Beijing, exceeding levels in countries with vacancy taxes.
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