How many houses are there in Shenzhen? Revealing the housing data and hot topics of this super first-tier city
Recently, Shenzhen’s housing problem has once again become the focus of heated discussions across the Internet. As a first-tier city with the highest population density and among the highest housing prices in China, Shenzhen’s housing stock, vacancy rate, affordable housing construction and other topics continue to attract attention. This article will combine hot topics and structured data in the past 10 days to provide you with a comprehensive analysis of Shenzhen’s housing situation.
1. Shenzhen’s total housing volume and per capita area
According to the latest data from the Shenzhen Municipal Statistics Bureau and the Housing and Urban-Rural Development Bureau, as of the end of 2023, Shenzhen’s total housing stock and distribution are as follows:
| index | data |
|---|---|
| Total housing stock in the city (units) | About 10.8 million units |
| Proportion of commercial housing | about 45% |
| Proportion of affordable housing | about 20% |
| Proportion of housing in urban villages | about 35% |
| Housing area per capita of permanent population (㎡) | About 27.6㎡ |
It is worth noting that Shenzhen’s housing structure presents the characteristics of a dual-track system of “commercial housing + urban villages”. Urban village housing provides low-cost housing options for a large number of migrant workers.
2. Hot topics on housing in Shenzhen in the past 10 days
1.Renovation of urban villages speeds up: Shenzhen released its 2024 urban village renovation plan, which plans to renovate about 50,000 housing units in urban villages, triggering heated discussions about rising rents and living costs.
2.Affordable housing construction goals: Shenzhen announced that it will build and raise 740,000 units of affordable housing during the "14th Five-Year Plan" period, and the first batch of projects will have started in 2024.
3.Housing vacancy rate controversy: An organization released a report claiming that the housing vacancy rate in Shenzhen reached 15%. This was refuted by the official, and the discrepancy in the data between the two sides triggered widespread discussion.
4.Second-hand housing transactions pick up: In March, Shenzhen’s second-hand housing transaction volume increased by 25% month-on-month, and the market experienced a phenomenon of “price-for-volume”.
3. Comparison of housing distribution in various regions of Shenzhen
The distribution of housing in various districts of Shenzhen is extremely uneven. The following is a comparison of data among major administrative districts:
| administrative district | Total housing stock (10,000 units) | Proportion of commercial housing | Median house price (10,000 yuan/㎡) |
|---|---|---|---|
| Nanshan District | 98 | 62% | 9.8 |
| Futian District | 85 | 58% | 8.6 |
| Longgang District | 210 | 38% | 4.2 |
| Baoan District | 195 | 43% | 5.1 |
| Longhua District | 120 | 47% | 5.5 |
4. Challenges faced by Shenzhen housing
1.The contradiction between supply and demand is prominent: Shenzhen has a permanent population of approximately 17.5 million and an actual managed population of over 20 million. The housing gap is estimated to be 3 million units.
2.House price-to-income ratio is abnormally high: The housing price-to-income ratio in Shenzhen exceeds 35:1, which means that it takes an average family 35 years of income to buy an average-priced house.
3.Rental market pressure: With the renovation of urban villages and the reduction of low-cost rental housing, the average rent will increase by 8.3% year-on-year in 2023.
4.Severe separation of work and residence: About 60% of the employed population needs to commute across regions, with the longest commuting distance exceeding 40 kilometers.
5. Future development trends
Shenzhen is solving the housing problem in a variety of ways: increasing the supply of affordable housing (targeting 60% of affordable housing by 2035), promoting "industry moving upstairs" to increase industrial space, and piloting shared ownership housing. Experts predict that Shenzhen will add about 1.5 million new housing units in the next five years, but the housing shortage is difficult to fundamentally change in the short term.
Shenzhen’s housing problem reflects the common challenges of megacity development. With limited land resources, how to balance residential needs, industrial development and urban renewal will be an important topic that Shenzhen continues to explore.
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