CRI听力：Y Generation: Emerging Property Buyers

Anchor: Although only in their '20s, China's Y generation has already become a solid force among the nation's house purchasing market. They either buy a house to stop renting or for marriage. But one expert has a piece of advice for these young home buyers: give it deep thought before taking the plunge. Here is our reporter Zhou Jing.

Reporter: Zhang Shixin came to work in Beijing after graduation from University in 2004. The next year he bought a small-sized apartment near Beijing's Guang'anmen.

"I believed housing prices in Beijing would continue to go up. In addition, I felt I was quite lucky to find an apartment located near downtown Beijing, and one sold at an affordable price. So I bought it without hesitation."

To buy this apartment, Zhang's parents shouldered great financial support.

"The down payment was 90,000 yuan, all given to me by my parents. And now every month I return 1,800 yuan back to the bank."

For the 25-year-old would-be groom Cao Minxin, marriage means more than just happiness, its also about huge pressure.

"I bought an apartment early this year. I'm in charge of both the down payment and repayments of the mortgage. I think a new apartment is a must for marriage. And buying a house is a man's responsibility."

This trend is quite obvious, more and more young people born after 1980 have joined in the house purchasing market. Having embarked on their career for several years and accumulated a certain amount of wealth, they choose to buy properties either for a sense of safety and settlement or for their big marriage. More often than not, small-sized apartments are preferred.

Hu Jinghui is vice-director of Woaiwojia Shareholding, a domestic real estate company.

"Those who purchase properties in China are getting younger. This is a very Chinese phenomenon, in Western countries, home buyers are usually over 40. These young people are often the single-child of their family and quite dependant on their parents. According to our research, 80 percent of Y Generation kids received financial support from their parents when buying their house."

Hu Jinghui also reminds young people about the risk of buying a property too early.

"These young people haven't been working for such a long time, and their work status and income are not very stable. When there is a change in their work situation, they'll have difficulties in meeting monthly repayments. My suggestion is don't buy a house too hastily."

For 'China Drive', I'm Zhou Jing.