Fuxin attracts young buyers with affordable housing prices

In China, smaller cities are becoming popular among young homebuyers searching for affordable housing. Fuxin, a fourth-tier city in the northeast, has seen a rise in newcomers drawn to its low living costs. According to real estate data, secondhand flats in Fuxin cost about $590 per square meter. In contrast, similar properties in first-tier city Shanghai can reach around $7,000 per square meter. Young buyers like 29-year-old Xiao Du find comfort in Fuxin's lower prices despite concerns about quality. Social media buzzes with excitement over these bargain prices, with some users likening them to "cabbages." Fuxin is also known for its affordable living. For example, at local morning markets, shoppers can purchase five apples or ten cabbages for just $1.30. The city's affordable housing options appeal to young people who want to escape the pressures of life in larger cities. Many hope to find a more relaxed lifestyle without the financial burden of high property prices. This trend is noticeably attracting people from various backgrounds, particularly those facing job or family challenges. Fuxin's housing market has shifted despite the overall economic struggles seen in older industrial regions. Efforts to boost the local economy have started to succeed, with Liaoning province experiencing GDP growth and a net population increase for the first time in years. While some Fuxin residents welcome the influx of young buyers, others fear it could raise property prices, making it harder for locals to afford homes. The focus on affordability reflects a broader shift in how young people choose where to live. Despite government efforts to promote higher-quality housing in major cities, many young individuals are choosing older, less expensive homes in smaller towns. Analysts warn that this trend needs careful monitoring as it could lead to a loss of talent, indicating that improved job opportunities might retain more young people in larger cities.