While young people around the world are struggling to get on the property ladder, an HSBC study found that 70% of Chinese millennials have achieved the milestone. Worst off are Australia and the UAE, where 28% and 26% of millennials own their own homes.
How do Chinese millennials buy their homes? According to Forbes, China has seven of the world's top 10 most expensive cities for residential property. In Shanghai, there were even reports of couples getting fake divorces to exploit a home-owning loophole. HSBC said 85% of those surveyed in China were in urban areas, with 14% in the suburbs and 1% in rural areas. So how have so many millennials managed to buy their homes? For sons in particular, it's down to the Bank of Mum and Dad - and underpinned by the marriage market. Thanks to the One Child Policy, there will be 30 million more men than women looking for a partner in China by 2020.