About 64 percent of Chinese university graduates who were respondents to a study by think tank Chinese Academy of Social Sciences (CASS) said that they are not willing to sacrifice quality of life just to afford buying a house.

Many of them, who belong to the post-90s generation of graduates, view buying a flat as resulting to a heavy financial burden, so that another 57 percent who would have sufficient savings won't use it to pay down payment for a flat but would rather use those funds to begin an enterprise.

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The survey results indicate a change in mindset of young Chinese compared to their elder counterparts who used to be obsessed with buying property.

"In China, owning one's own home is an important ideal to the majority of ordinary people, but high property prices have made this 'dream' difficult to attain for most of the 'post-90' generation of graduates," the Wall Street Journal quoted CASS explaining the change.

CASS added that given the different outlook of the current generation, those who belong to this geographic group could eventually become non-homeowners.

The study noted that less than 5 percent of members of this geographic group live independently or with a partner in an apartment one year after finishing college. The bulk, or 70 percent, either rent units or stay in employer-provided accommodation and 20 percent are with their parents or relatives.

CASS said living in a world without financial burden on their backs, such as mortgages, is given a higher premium by the younger set over owning real estate.

Such an outlook appears to be in contrast to a survey done in November in Britain which found that two-thirds of survey respondents view not owning a property by the time they reach 30 is considered a sign of failure, said British real estate agents Purplebricks.

Tagsuniversity graduates, house ownership, financial burden, real estate, Chinese Academy of Social Sciences