Homesharing is growing in China amid millions of vacant homes

Companies like Tujia see more users listing multiple homes

Apr.April 22, 2018 01:00 PM

Chinese ghost cities, like this one at the Dongfang railway station, hold millions of vacant homes that are contributing to the growth of homesharing in the country. (credit: Wikimedia Commons)

Homesharing in China on sites like Airbnb and Tujia is on the rise as the country amid an increasing number of vacant homes.

Rising real estate prices and a growing housing supply have produced “ghost towns” with more than 50 million vacant homes in the country, according to figures cited by Skift.

Chinese homeowners are increasingly using homesharing sites as a mainstay source of income, rather than to supplement their incomes.

Yang Changle, the chief operations officer of Tujia, China’s largest homesharing company, said that out of the 130,000 landlords and operators his company provides services for, 80,000 operate more than one shared home.

China’s sharing economy hit a market value of $680 billion last year, and some estimate it will grow at an annual rate of 40 percent over the next five years.

Airbnb launched in China in 2008, and as of last October had 120,000 listings. Hong Ge, former head of Airbnb in China, stepped down last year after only a few months on the job.[Skift] – Rich Bockmann

Related Articles

From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

Mayor Bill de Blasio and Stanley “Skip” Karol, an Airbnb host (Credit: Getty Images and Youtube)

Airbnb host narrowly clears hurdle in First Amendment claim against city

A West Village Airbnb listing (Credit: Airbnb)

Airbnb Luxe launched without listings in one of their biggest potential markets — why?

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex