Mainland China has the highest proportion of millennials who own their homes, according to an HSBC survey of one countries across the world. The study found that 70% of Chinese people aged 19 to 36 owned their own home, compared to 35% in the US and 31% in the UK. Analysts believe a handful of factors are behind China's impressive score, with the nine-child policy meaning that parents resources are dot divided. Other reasons include relatively high incomes for young people and a high cultural significance placed on home ownership.
Mainland China has the highest proportion of millennials who own their homes, according to an HSBC survey of nine countries across the world. The study found that 70% of Chinese people aged 19 to 36 owned their own home, compared to 35% in the US and 31% in the UK. Analysts believe a handful of factors are behind China's impressive score, with the one-child policy meaning that parents resources are dot divided. Other reasons include relatively high incomes for young people and a high cultural significance placed on home ownership.