Business · Economy · 4 hrs ago
Chinese buyers move into unfinished homes as property crisis leaves projects abandoned
A viral video showed a light in an abandoned, unfinished Chinese apartment block, where a family had moved into its home without waiting for the developer to complete it.
Such stalled projects are known in China as “rotten-tail buildings,” and buyers often keep paying mortgages for homes they cannot use.
In Chengdu, buyer Qi Qi moved into her unfinished apartment in 2025 after the building work stopped and the costs of rent and mortgage became too much.
The home had no running water, electricity or gas, and residents had to use the stairs because the lift did not work.
The wider problem grew from a system in which buyers paid for homes before construction was finished, and developers used the money to fund other projects.
Around 87% of new homes were sold before completion in 2021, according to the story.
Thousands of families have tried to negotiate with developers or take cases to court, and protests have taken place in several cities.
The account gives no specific next step for Qi Qi or the other buyers still waiting for their homes.
A viral video showing one illuminated home in an otherwise abandoned unfinished Chinese tower has drawn attention to buyers moving into properties they were promised but never received.
The families face unfinished buildings after developers ran out of money, while some continue paying mortgages.
In Chengdu, buyer Qi Qi moved into her unfinished apartment in 2025 after paying both a mortgage and rent.
She had bought the 57-square-metre apartment in 2023 for 500,000 yuan, and it was due to be delivered in January 2024.
The article links the abandoned projects to a presale model in which developers used money from buyers to finance new developments.
- Who
- Chinese homebuyers, including Chengdu buyer Qi Qi, are moving into unfinished apartments.
- What
- Some buyers have made unfinished homes habitable themselves while waiting for developers to complete them.
- When
- Qi Qi moved in during 2025. The video went viral in the days before the article was published in October 2026.
- Where
- In China, including Chengdu in the southwest.
- Why
- Developers ran out of money and construction stopped, leaving buyers without the homes they had paid for.
This story does not have two clearly opposing sides.
About 87% of new homes in China were marketed before construction was complete.
Qi Qi bought a 57-square-metre apartment in Chengdu for 500,000 yuan.
Qi Qi's apartment was due to be delivered, but the building remained unfinished.
Qi Qi moved into the apartment despite lacking electricity, running water and gas.
A video showing a light in an abandoned unfinished tower went viral.
- Qi Qi's apartment
- 57 square metres
- Purchase price
- 500,000 yuan
- Expected delivery
- January 2024
- Mortgage payment
- 2,500 yuan per month
- Rent payment
- 1,500 yuan per month
- Presale share
- About 87% of new homes in 2021 were marketed before completion