Young Chinese prefer 'lease' to 'purchase' (Xinhua) Updated: 2006-01-30 09:12
More and more young Chinese people are choosing to lease houses and cars
instead of purchasing, as they opt for a more flexible life without financial
burdens.
As China Youth Daily observed, attitudes are changing. In contrast to their
ancestors who believed that one should live in a house of his or her own, young
people prefer an easy life without the complications of a mortgage.
A recent survey showed in Shanghai that more than 1.5 million people are
living in leased houses, of which 20 percent are white-collar workers with a
monthly income of 5,000 yuan (625 U.S. dollars) or more.
"It's not because we can't afford the housing, but I hate my life being
affected by loan," said Xu Yun, staff with a Shanghai tourism company.
In Xu's eyes, people who buy a house and a car are forced to calculate their
earnings and their expenditure day by day, which deprives them of joy and fun in
their life.
A lady who only gave her surname as Wu to China Youth Daily, said she and her
husband, despite amassing a deposit sufficient for the down payment for an
apartment, choose to stay with her parents-in-law for several years to come.
"I am waiting for the fall in house prices," said Wu, adding that she is not
willing to be driven and harnessed by the loan.
The case is similar for a lady whose surname is Zhao, who works at a
financial consulting company and also has a part-time job as a cosmetics
consultant.
The company lays on a shuttle bus for its staff, so Zhao only needs a vehicle
for her part-time job. She rents a car for her part-time job with a monthly
expenditure of 600 yuan (around 75 U.S. dollars), which is far less than the
expenditure for owning a car.
"Renting a car has spared my money and has taken a load off my mind," Zhao
said.
In recent years, Chinese people have put more emphasis on the taste and
quality of life, and have spent more on house furnishings. Bi Keren, a teacher
in Qinghua University, bought two plants of azalea worth 2,000 yuan (250
dollars). However, the flowers died only one month later due to her lack of
experience.
To embrace the Spring Festival which will falls on January 29 this year, Bi
rented two plants of azalea costing no more than 200 yuan (25 dollars) for two
months. The florist also offers a pruning service.
Since there are strict limits on pet-feeding in big cities like Beijing and
Shanghai, pet lovers have also turned to renting a pet for 10 to 20 yuan (1.25
to 2.5 dollars) for a happy weekend.
|