After China’s debt-fueled real estate bubble burst, massive real estate developments across the country were partially abandoned – including Venice Life, a sprawling residential complex on China’s east coast.
Just an hour and a half drive from Shanghai, China’s bustling commercial hub, “Venice Life” is inspired by the famous Italian city, featuring European-style sculptures and buildings connected by canal bridges.
It was once promoted as Shanghai’s Garden, promising a luxurious, relaxing, resort-like seaside lifestyle. But house prices began to decline a few years ago, and in 2024 the complex’s developer, Evergrande, declared bankruptcy.
Today, “Venice Life” is a ghost town with ocean views, and many units remain unsold.
Home prices here have fallen by more than half. Many of the villas are abandoned, reduced to their concrete and alabaster shells, and their private docks sit unused. A three-bedroom apartment here can be rented for just 800 yuan ($116) per month.
These bargain prices have attracted some people seeking a laid-back, low-cost lifestyle and escaping the fierce competition in China’s megacities.
A few grocery stores, a few restaurants, and a package delivery station provide adequate services for those who choose to move here.
In winter, the complex is largely quiet, and residents live at a slower pace. Some fished next to deflated rubber ducks. Children’s clothes were hung to dry in public places. A lone man swings on an empty beach and stares at an abandoned pier.
This is a photo gallery curated by AP Photo Editor.
