Number of housing unit completed in rundown urban areas in China 2016-2022
In 2022, 1.81 million housing units were rebuilt in rundown urban areas in China, representing a further drop of more than ten percent from the previous year. Urban renewal projects were widely implemented across China in the last two decades, as central areas in major cities usually had higher land value and unsatisfactory building quality. However, local authorities now tend to monetarily reimburse homeowners for the land instead of providing new housing units after the reconstruction.