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

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.

Sep 27, 2022 - 16:28
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China's property market crisis: Homeowners forced to live in unfinished apartments
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.