Young Chinese Workers Quit Corporate Life to Retire Early in Ghost Town Apartments

A growing number of young Chinese professionals are abandoning high-stress careers in major cities to retire early in cheap apartments in abandoned developments. With China's economy slowing and job competition intensifying, some are paying as little as $168 a month to live in ghost towns rather than continue the grueling corporate lifestyle.

In a sprawling, mostly empty development called “Life in Venice” along China’s coast, a multibillion-dollar recreation of the famous Italian city sits largely deserted. Thousands upon thousands of residential units remain nothing more than concrete and stone shells.

Yet this remote, half-abandoned project has attracted unexpected new inhabitants like Sasa Chen, a former finance worker who walked away from her demanding job in Shanghai’s fast-paced business district.

What drew her there?

Chen spends only 1,200 RMB monthly – roughly $168 – for her unit in this artificial Venice located in Jiangsu province. The incredibly low cost has enabled Chen to step away from working life entirely at just 28 years old.

According to analysts, Chen represents a growing movement of young Chinese citizens relocating to smaller communities and towns, capitalizing on rock-bottom property values that have been dropping dramatically since the COVID-19 outbreak.

This represents a complete shift from earlier generations who valued climbing the social ladder. For decades, China’s emerging middle class rushed to thriving metropolitan areas seeking employment and opportunities that were plentiful as the nation experienced rapid economic growth. However, as the previously booming economy has slowed down, expectations have risen while prospects have shrunk and rivalry has intensified.

The majority of major Chinese corporations, particularly well-paying technology companies, demand employees work from 9 a.m. until 9 p.m., Monday through Saturday – an exhausting routine commonly called the 996 culture. Facing this relentless pressure, some young workers have abandoned their careers entirely, joining a protest movement known as “lying flat” – rejecting traditional career paths and consumer culture in favor of a “low-desire lifestyle.”

Many are reshaping their aspirations to prioritize rest and leisure, similar to what young people in Western countries pursue through FIRE: “Financial Independence, Retire Early.”

This goal is much more attainable in China due to extremely low living expenses in certain areas compared to Western costs.

Property values at the enormous “Life in Venice” complex have dropped by more than half since China’s real estate market declined several years ago, and a meal of noodles or rice at local restaurants costs less than three dollars.

These rock-bottom prices have helped young people like Chen who are willing to relocate to isolated but affordable housing now accessible throughout the nation. Chen calls it an ideal existence: ocean views, fresh air, and minimal rent.

“I have all the time in the world, the freedom of doing whatever I want,” said Chen. “I am living the life that I want.”

“Life in Venice” was originally conceived in the early 2010s as a vacation destination for affluent Shanghai residents, offering an upscale yet serene seaside lifestyle.

However, interest in the enormous development’s 46,000 housing units collapsed when China’s debt-driven real estate bubble burst. The construction company, property giant Evergrande, filed for bankruptcy in 2024.

The location now resembles a ghost town, with numerous villas standing as empty frameworks. Fewer than 20% of units have residents. Deserted vessels sit deteriorating at the crumbling dock while “For Sale” notices and vacant storefronts fill the streets. Still, a small number of residents have settled there, with some fishing in the development’s peaceful waters.

Chen previously worked in a gleaming Shanghai office tower, earning as much as 700,000 yuan ($98,480) annually at a major financial company. However, she had always disliked the concept of traditional employment. After three years, she started planning her exit from China’s demanding white-collar work environment.

Her strategy involved accumulating savings and locating housing with rent so minimal she could survive on investment returns alone.

Her goal became reality last year: Chen accumulated 2 million yuan ($290,000) and secured a large apartment at “Life in Venice.” With such minimal rent, she believes she can remain there permanently without returning to work.

While “Life in Venice” lacks her preferred sour soup hotpot restaurant, home delivery services, or nearby major medical facilities, her new home offers basic amenities including a market and dining options.

Chen once dreaded her demanding nine-to-six schedule, which she described as feeling “like marching to my own death.” Currently, she rises at 10 a.m. daily, spending her time preparing meals, relaxing, and taking extended beach walks.

“I never believed that work is the meaning of life,” Chen said. “My ideal state of life is not to work and stay at places that I like.”

Similar to Chen, numerous young Chinese individuals have departed major urban centers.

Although specific data about workforce departures isn’t available, statistics indicate that between 2019 and 2024, Beijing lost 1.6 million residents in their twenties and early thirties – equivalent to Philadelphia’s entire population – based on the capital’s statistical office records.

“People are quitting this competition, this very clear, linear, upward career track,” said Xiang Biao, director of the Max Planck Institute for Social Anthropology in Germany. “It’s a broader trend.”

China’s economic growth has decelerated recently, expanding just 5% in 2025 – still exceeding the U.S. and other developed nations, but far below the double-digit expansion the country previously experienced.

With the slowing economy, young Chinese face employment challenges. By December, 16.5% of 16-24 year-olds not attending school were jobless.

Others, including 29-year-old Ban Zhao, are completely abandoning corporate competition.

Last summer, Ban relocated from a busy commercial city on China’s eastern coastline to a small community in southwestern Yunnan province. Nestled in a green valley, the town is known for pure air and therapeutic hot springs. There, Ban pays just 800 yuan monthly ($110) for a three-bedroom apartment, converting one room into a yoga studio.

She and her partner work fewer than 20 hours weekly, teaching online yoga classes for income. Otherwise, she explores her beautiful tree-lined neighborhood filled with flowers, frequently enjoying the area’s famous sunshine.

“I can do whatever I want and not do whatever I don’t want,” Ban said. “I live in heaven.”

Some are moving to locations like Hegang, a frigid and isolated coal mining community in northeastern China known for incredibly affordable housing. As natural resources were depleted and mines shut down, young residents departed, leaving Hegang with far more homes than inhabitants.

Units there now cost less than automobiles, making sales simple for real estate agent Yang Xuewei.

Yang has sold over 100 discount apartments to buyers nationwide – including some international clients who contacted Yang after viewing his online property tours. A single-bedroom unit sells for $3,000, while $13,000 purchases a spacious four-bedroom home.

“I don’t know about big cities, I never lived in one,” Yang said. “I can only say that living in Hegang is easy.”

Chen Zhiwu, a University of Hong Kong finance professor, explained that increased living expenses and reduced employment options in larger cities are pushing people toward more affordable locations.

“It’s natural,” Chen said. “Young people are facing reality and thinking hard about their futures.”