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France 24

Politics

Lou KISIELA

China's property market crisis: Homeowners forced to live in unfinished apartments

FOCUS © FRANCE 24

After years of accelerated growth, the real estate sector in China is in crisis. The biggest developers are crumbling under colossal debts. Due to a lack of funds, the construction of hundreds of buildings has been put on put on hold for months, if not years. New apartment owners find themselves paying mortgages for unfinished homes, leaving some no choice but to move into these abandoned construction sites. Our correspondents report from Kunming, in southern China.

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