For young people in China who do not yet own a home, 91 per cent reported intentions to buy property in the next five years.

The high rate of home ownership among younger Chinese could be due to the cultural value placed on owning property, relatively high incomes for young people, and the one-child policy allowing parents to devote resources to one offspring, analysts say.

Despite skyrocketing housing prices in major cities such as Beijing and Shanghai, many smaller cities were still affordable for young people, said Vincent Cheung Kiu-cho, deputy managing director at Colliers International, a real estate consultancy.

Some young people could earn higher incomes in second and third-tier cities and then buy cheaper properties in their smaller hometowns, he said.

Many also view real estate as the safest form of investment compared to putting money in the stock market, according to Cheung.

“Chinese [people] love to collect properties,” he explained. “Once they have the money, they buy property.”

Volar Ye, 27, lives in a property with his wife in Guangdong province, bought for them by his parents. The couple is now trying to buy another flat.

“Properties are fixed assets, a more material investment than something like stocks,” Ye said.

“Once middle-class young people save some money, they invest in real estate. There aren’t that many other industries to choose from for investments or that they have confidence in.”

Parents on the mainland also often provide down payments on their children’s properties. The survey found that 40 per cent of young homeowners sought help when buying.

The situation on the mainland contrasts with the problems young people face in Hong Kong. A survey published last year by the Hong Kong Federation of Youth Groups suggested many young people expected to work for up to 25 years before they could afford an apartment.

As a result, the survey found that only a quarter of them had interest in buying property.