China’s High-Rise Apartments Have Turned Into Dangerous Slums

Summary

The script explores the growing issues surrounding high-rise apartments in China, focusing on their rapid deterioration and the long-term consequences for residents. It highlights problems such as poor construction quality, overcrowding, aging infrastructure, and the looming risk of high-rises becoming slums within a few decades. The rise of these buildings, once symbols of prestige, is linked to economic policies that prioritize land finance and urbanization, but as demographic shifts and economic downturns take their toll, high-rises may lose value, leaving homeowners facing regretful investments.

Takeaways

• 😀 High-rise apartments may seem appealing at first, but they come with numerous problems such as noise, dust, and unreliable phone signals.
• 😀 The higher floors of high-rise buildings are not necessarily quieter or more comfortable; in fact, they can suffer from noise and instability issues.
• 😀 Shared spaces in high-rise buildings are often underutilized or poorly maintained, leading to wasted space and additional costs for residents.
• 😀 The design lifespan of high-rise buildings is typically around 50 years, with aging buildings facing issues like peeling walls, leaks, and costly repairs.
• 😀 Urbanization in China has led to an over-supply of high-rise buildings, particularly in smaller cities where demand is now decreasing.
• 😀 As buildings age, maintenance costs skyrocket, and many residents are left with deteriorating living conditions due to insufficient repair funds.
• 😀 Younger generations are increasingly avoiding high-rise living, opting instead for low-rise buildings or more affordable housing options.
• 😀 Overcrowding in high-rise buildings is a major issue, as communities become packed with residents and amenities begin to degrade.
• 😀 In major cities like New York, older high-rise buildings have become low-income housing, with wealthy residents moving to suburban homes.
• 😀 The Chinese government has encouraged the construction of high-rise buildings to show national strength and drive economic growth, despite their long-term viability concerns.
• 😀 The future of high-rise apartments is bleak, as their value will likely decrease over time, turning them into underutilized or abandoned structures in the coming decades.

Q & A

What are some of the main issues faced by residents of high-rise apartments according to the speaker?

The speaker lists several problems with high-rise apartments including excessive noise, dust, unstable signal reception, overcrowded communities, minimal green spaces, and high share space ratios that reduce usable living space.

Why does the speaker regret purchasing a high-rise apartment?

The speaker regrets purchasing a high-rise apartment due to numerous issues such as noise, poor air quality, unstable signals, overcrowding, and the high costs associated with shared spaces.

What are the main reasons why high-rise apartments might become unmarketable in the future?

Three main reasons are cited: the design lifespan of high-rise buildings is only about 50 years, China's urbanization rate exceeding 60% leads to a lack of demand in smaller cities, and the declining birthrate means future generations may not be interested in buying them.

What challenges do older high-rise buildings face as they age?

As high-rise buildings age, they face issues such as peeling walls, aging pipelines, elevator malfunctions, roof leaks, and high maintenance costs. Repair funds collected from residents may not be enough to sustain the building over time.

What is the situation with high-rise apartments in smaller cities in China?

In smaller cities, high-rise apartments are facing declining demand and may eventually become ghost towns. The lack of demand, combined with aging infrastructure, makes them less viable as a long-term investment.

How does the situation of high-rise apartments in the United States compare to China?

In the United States, 90% of high-rise apartments are occupied by low-income residents, whereas wealthier individuals live in suburban villas. Similar to China, aging high-rise buildings face challenges such as weak water pressure, fire safety risks, and frequent elevator malfunctions.

What are the potential future outcomes for high-rise apartments in China?

In the future, high-rise apartments in smaller cities are expected to become ghost towns, while those in major cities may become low-rent urban villages. The decline in demand, combined with aging infrastructure and a shrinking population, will affect their value.

Why does China continue to build high-rise apartments despite the potential long-term issues?

High-rise construction is seen as a way for the Chinese government to showcase national strength, maximize land use in densely populated areas, and drive economic growth through real estate development. Additionally, developers and local governments benefit financially from this model.

What role did the 1994 tax reform play in the construction of high-rise apartments in China?

The 1994 tax reform led to a mismatch between fiscal authority and spending responsibilities for local governments. This prompted local governments to rely heavily on land sales for revenue, leading to the proliferation of high-rise apartment construction as a way to maximize land value.

What are some of the challenges in renovating and maintaining aging high-rise buildings in China?

Renovating aging high-rise buildings presents challenges such as financing issues, with residents often required to fund renovations themselves. Urban renewal efforts have been limited due to financial constraints, and many renovations are focused on older buildings from the 1980s and 1990s, leaving newer buildings from the 2000s vulnerable to future issues.