If you thought the Australian property market was tough, how about competing with 21 million other buyers – almost the equivalent of the entire population of Oz – to find a home in Beijing.
Such is the pressure on housing there that the search for a place to lay your head has reached dramatic new lows, literally.
No longer opting for the ever expanding high rises, China’s residents are setting themselves up in a series of illegal underground homes. From bomb shelters to storage basements, buyers are doing whatever they can to squeeze themselves beneath a city already well over capacity above ground.
Despite legislation passed in 2010 outlawing this practice, hundreds of thousands are Beijing’s residents are actively heading underground despite the dark and dank nature of the dwellings that are all they can afford.
Read all about it HERE.