(Yicai Global) May. 11 Chinese ghost cities have made headlines for nearly a decade, with huge new real-estate developments sitting mostly empty for years. Some see them as a sign China is heading for a real-estate crash. Others see them as just the typical style of urban expansion for a giant state-run economy.
Chenggong was labeled a ghost city back in 2012, with reports of 100,000 vacant apartments. Five years later, the city still looks very empty — yet skyscrapers are still being built.
Erenhot is a notorious ghost city in Inner Mongolia. Check out our time lapse of one development there: just dirt in 2013 …
Ordos, another notorious ghost city in Inner Mongolia, is reportedly adding people but still has lots of unsold housing and unfinished construction. This beautiful stadium, for instance, has been sitting unfinished for a long time.
Dongsheng (named by Baidu as a partial ghost city) has large developments like this one sitting dormant. The skyscrapers are apparently finished, but the construction equipment is gone, so it appears that work has stopped on the site.
This development in Dongsheng is up and running but appears to have very few residents.
Ghost city or future city? The giant Meixi Lake development looks eerie today, with skyscrapers going up by the dozens and not a lot of residents. Then again, prices are still rising in the area, and, construction is still going rapidly.
Once called a ghost city, Zhengdong is reportedly doing quite well. Still, the city is building new skyscrapers by the dozens.
While some ghost cities are reportedly filling in, some aren’t. And just this fall China's richest man called Chinese real estate "the biggest bubble in history."