Millennials in China are actually buying homes, unlike their peers around the world. A new global study from HSBC reveals 70% of Chinese Millennials are already homeowners, and of those who are non-owners, 91% have plans to buy in the next five years. That gives them the highest rate of Millennial homeownership globally, compared to 46% in Mexico, 41% in France, 35% in the U.S., 34% in Canada, 31% in the U.K., 28% in Australia, and 26% in the United Arab Emirates. Downpayment is the biggest barrier for aspiring Millennial homeowners, with 69% globally saying that they don’t have enough money for the deposit. (Curbed, Newsweek)
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