Cultural tips

In China before 1980, "buying a house", "real estate" were relatively unfamiliar concepts for the ordinary Chinese people. At that time, the housing rationing system was still in place and people lived in houses provided by their work units and paid little for rent, if any. Of course, the residents didn’t own the housing property. Since the start of the 1990s, China stopped the welfare housing distribution system and residential commercialization was underway. Today buying a house has become one of the greatest concerns for the common people. For the young people, it is almost necessary to have their own house before getting married. Of course, for families who are not that well off, buying a house would cost them everything and leave the family in heavy debt. Even so, most people still prefer to buy a house, because from a long-term point of view, buying a house is more practical than renting one.