Where’s my money: A Chinese worker hangs mid-air to paint protest on skyscraper for unpaid wages

New Delhi: A video of a grieving worker in China painting protests for wage arrears on every building is going viral on social media.

This grieving worker painted protests for wage arrears on every building (ending photo is on another building). A microcosm of China $Sunac real estate collapse.#TheGreatTranslationMovement pic.twitter.com/N3q9EUMnUH

— The Great Translation Movement 大翻译运动官方推号 (@TGTM_Official) October 25, 2022

According to earlier reports, Shanghai E-House Real Estate Research Institute estimated in July that stalled projects accounted for 3.85% of China's housing market in the first half of 2022, equivalent to an area of 231 million square metres.

While some local governments have taken steps to prop up the property market by setting up bailout funds, buyers who paid deposits in advance and are on the hook for mortgages, remain in limbo.

The proliferation of unfinished apartments has sparked unprecedented collective disobedience, fuelled by social media: in late June, thousands of home buyers in at least 100 cities threatened to halt mortgage payments to protest stalled construction.

The overall property market is highly sensitive to cases of unfinished apartments because 90% of new houses bought in China are purchased "off plans" while still under construction, said Yan Yuejin, research director at Shanghai E-House.

(With inputs from agencies)

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