More Expensive to Die Than Live? Graves Now Cost More than High-End Property in China (Infographics)

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According to the recent data from China’s largest publicly traded operator of cemeteries and funeral facilities, the average cost of a burial plot in China has risen by 41% in the last three years.

Keep on reading Nexter.org to know more.

china-cemetery-pics

Source: Kin Cheung/Reuters

Dying is more expensive than living

Living in the world’s most populous country is difficult but dying is also not an easy thing there.

It’s not a something new that Chinese property prices have soared in recent years, making it increasingly costly for those living in the world’s most populous nation. Now it turned out that the cost of living in China has been well surpassed by that of the cost of dying.

According to Bloomberg, citing data from Fu Shou Yuan International Group, China’s largest publicly traded operator of cemeteries and funeral facilities, the cost of an average burial plot, roughly the size of half a yoga mat, has surged 41 percent since the first half of 2015 to 100,483 yuan ($14,800). A gauge of home prices in 70 Chinese cities advanced 23 percent over that period.

Per square meter, the average plot price stood at about $16,540 in 2017, more than double the $8,260 per square meter average it cost to buy an apartment in Shenzhen, China’s most-expensive housing market.

“Supply is very limited,” said Hao Hong, a chief strategist at Bocom International Holdings Co. “We’ve heard about some people who bought flats in Shanghai to store cremains instead of expensive graves.”

china-graves-price-infographic

Over the last years, Beijing has imposed various property curbs in an attempt to cool the housing market. By some estimates, real estate accounts (directly and indirectly) for as much as 30 percent of the gross domestic product.

China’s so-called crude death rate – which refers to the number of deaths occurring throughout a year, per 1,000 population – was 7 in 2016, down from 25 in 1960, World Bank data show.


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Summary
More Expensive to Die Than Live? Graves Now Cost More than High-End Property in China and Overpopulation Is to Blame
Title
More Expensive to Die Than Live? Graves Now Cost More than High-End Property in China and Overpopulation Is to Blame
Description
According to the recent data from China's largest publicly traded operator of cemeteries and funeral facilities, the average cost of a burial plot in China has risen by 41% in the last three years.
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