Having lived in a new and quite upscale (rent was 8K RMB/mo, apartment sold for $500k USD) Chinese apartment in Beijing for a couple years and visited many others I can attest that the build quality is absolutely awful. The stuff they're building will not last. Buildings in China are built for instant gratification using the lowest skilled labour available with fit and finishings that only look good from a distance.
This is why PPP GDP adjustment is such BS. The argument goes that you have a skyscraper in Shanghai and one in New York you have a skyscraper's unit of wealth in both places, though the one in Shanghai costs half as much to build. Therefore you double the GDP gor China (figures for illustration) in order to account for this purchasing parity issue. Problem is, that the skyscraper in Shanghai will last a fraction of time that the one in New York does. China is the land of McMansion skyscrapers.