Core Insights - The article highlights the disparity in housing conditions between China and other countries, particularly Japan and South Korea, emphasizing that while China has a higher average living space per person, the underlying issues are more complex [1][3]. Housing Comparisons - Japan has an average living space of 33 square meters per person, but this figure masks significant urban-rural disparities, with many residents in cities living in cramped conditions [3]. - South Korea's average is even lower at 28 square meters, heavily influenced by high property prices in Seoul, forcing many young people to rent small apartments [3]. - In contrast, China's urban average is 40.5 square meters, largely due to the affordability of housing in lower-tier cities, where prices are significantly lower compared to major cities [3][5]. Government Policies - Recent government policies have made home buying more accessible, such as increasing the public housing loan limit and expanding tax benefits for home purchases [4][5]. - The government is also focusing on building affordable housing to address the concerns of young people and first-time buyers [5][6]. Cultural Attitudes - There is a notable difference in housing attitudes, with Chinese culture placing a high value on home ownership, leading to a high home ownership rate of 96% [5][6]. - In contrast, younger generations in Japan and South Korea are less inclined to purchase homes, with low home ownership rates among those under 35 [5][6]. Market Dynamics - The Chinese real estate market has seen significant growth, with over 200 billion square meters of residential properties built in the past two decades, and a notable increase in new home sales [5][6]. - Developers are now focusing on creating more appealing housing options, which has improved the effective living space for buyers [5][6].