Photos show China’s low-cost lifestyle in vast, semiabandoned housing complexes

After China’s debt-fuelled real estate bubble burst, large residential developments It remains partially abandoned throughout the country, including “Life in Venice”, a vast residential complex located on China’s east coast.

Just an hour and a half drive from Shanghai, China’s bustling commercial hub, “Life in Venice” was inspired by the famous Italian city, which features European-style statues and buildings connected by canals and bridges.

It was once promoted as the garden of Shanghai, promising a luxurious, relaxing, resort-like lifestyle by the sea. But a few years ago, real estate prices fell, and in 2024 the developer of the complex, Evergrande, declared bankruptcy.

Today “Life in Venice” is a ghost town overlooking the sea, with many units unsold.

House prices here have fallen by more than half. Many villas are abandoned, with only concrete and alabaster ruins, their private piers left unused. A three-bedroom apartment can be rented here for just 800 yuan ($116) per month.

These bargain prices attract some who want a comfortable, low-cost lifestyle and an escape from the hypercompetitive rat race in China’s megacities.

A few grocery stores, some restaurants, and a package delivery station offer enough for people who choose to move here.

In winter, the complex is largely quiet as residents enjoy a slower pace of life. Some men are fishing next to a deflated rubber duck. Children’s clothes are hung to dry in public places. A lone man swings on a swing on an empty beach, looking out at an abandoned pier.

This is a photo gallery curated by AP photo editors.