West Third Ring

: This wasn't any old house-hunting mission - he was looking to buy, according to Global Times China. After seeing scores of places, he finally settled on a 40-square-meter loft located on the West Third Ring, which cost 950,000 yuan . He and the agent decided that they would meet with the landlord the following week to sign the papers. "I think it a good choice," Li later said. "Owning an apartment in the city will make my life more stable here, and I'll be able to focus more energy on my career." Li isn't alone in what some might consider precocious efforts to settle down. "As far as I know, many of my classmates and friends who have also just graduated from university are also planning to buy an apartment soon," he said. Photo: IC. It was a Saturday afternoon in May, and Li Yang, a 27-year-old graduate student at Shenyang Pharmaceutical University, was trailing his real estate agent from building to building in Beijing Xicheng district, not far from his internship at a medical company. According to a 2010 report by Guangda Bank, the average age of first-time home buyers in Beijing is 27, the youngest around the world. According to a survey conducted by China Youth Daily social research center in 2013, 84.1 percent of 19,869 respondents said that they know people who are planning to buy apartments right after graduation. It a phenomenon that become increasingly common in large urban centers across China. (news.financializer.com). As reported in the news.