Chinese Ghost Town Offers $116 Monthly Rent After Real Estate Collapse

A once-luxurious housing development in China modeled after Venice now sits largely empty following the collapse of the country's real estate bubble. The abandoned complex now attracts residents seeking an ultra-low-cost lifestyle, with three-bedroom apartments renting for just $116 per month.

When China’s real estate market collapsed under crushing debt, it left behind massive residential developments sitting mostly empty across the nation — including a sprawling complex called “Life in Venice” situated along China’s eastern shoreline.

Located just 90 minutes by car from the busy commercial center of Shanghai, this residential development drew its design inspiration from Italy’s famous floating city, complete with European-influenced artwork and structures linked by waterways and footbridges.

The development was originally marketed as Shanghai’s paradise, offering residents an upscale, peaceful resort-style experience near the ocean. However, real estate values began declining several years back, and by 2024, the project’s builder, Evergrande, filed for bankruptcy protection.

Now, “Life in Venice” resembles a deserted community overlooking the sea, with numerous housing units remaining vacant and unsold.

Real estate values in the area have dropped by more than 50 percent. Numerous villa properties stand empty, reduced to bare concrete and stone shells with their private boat slips sitting unused. A three-bedroom unit in the complex can now be leased for only 800 yuan, equivalent to $116 monthly.

These dramatically reduced costs are attracting individuals looking for a relaxed, budget-friendly lifestyle and an alternative to the intense competition found in China’s largest urban centers.

Several small markets, dining establishments, and a postal service center provide basic necessities for those who have decided to relocate to the area.

During winter months, the development remains mostly peaceful as its inhabitants embrace a more leisurely way of life. Some residents can be seen fishing beside a deflated inflatable duck. Children’s garments hang on lines in common areas. A solitary figure rocks back and forth on a beach swing, looking toward an unused dock extending into the water.