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Posts: 518

Governor

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Q: Buying apartment in Shanghai

Recently saw a question on how to find a good apartment for rent in shanghai with very nice answers..

 

Can someone explain how to find a good apartment in Shanghai to buy.? Any websites which is expat friendly/English? or atleast a reliable Chinese website which is chrome friendly (auto translate)?

 

What is approximate rates? 

 

Also a typ. Q which may not have good answer... is it advisable to buy now??? will rates go down??

7 years 43 weeks ago in  Housing - Shanghai

 
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Posts: 2418

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The process for finding a apartment to buy is similar to finding an apartment to rent.

Wander around the areas you are interested in, find a building you like and look for the nearest agents (usually within 2 blocks) and they will show you what they have available. No one agent is going to be able to show you everything, so you will have to do a lot of let work to find a place you like.

For Shanghai, depending on where you want to live, rates are probably between 15-30k per square meter or higher if you want something modern and downtown.

Do I think it is a good time to buy? My gut tells me no, but then I have been saying that for the last 5 years. And in those 5 years my properties have almost tripled in value. Just be cautious and understand that if you sell, getting that money out of China may be a big headache if you don't have the right connections.

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7 years 42 weeks ago
 
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I will not give you suggestion to buy an Apartment here..

it is better you can put your money in your own country in some kind of deposit and earn interest..through that interest you can pay rent here in China..in this way your money will be safe and you have also flexibility to leave China whenever you want..buying may be easy but as above answer says..yaa selling will be difficulty especially for foreigner..I doubt you can get real return at the time of selling because another party will surely take advantage of your foreigner tag...

Also i know that if you buy an apartment then it will only belong to you only for 70 Years..

 

In China property rates never goes down as far as i experienced..because here every properties belong to Government and whenever Government auction a particular property for a particular purpose (residential or commercial or mixed) then so many real estate companies participate and as a result they buy property at high rate..

Buying a property at high cost will result in selling apartment at high cost..so this is a ongoing process..

In economics i can explain you like this -  you must note that as a tradition or culture of China every Groom have to buy an apartment or house as the case may be before their marriage..so you can imagine the numbers of single potential groom in China (also add every year growth in this number) and relate it with the demand..now due to those potential groom demand why any real estate company will decrease the price..when they know that there is huge customer demand ..

it is directly related..demand is more then price is also more..

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7 years 42 weeks ago
 
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