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anonymous
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Q: What are some tips to know if my flat is overpriced?

I'm looking for a new apartment (after living a year in mine here) and I wanted to know what were the best ways to know how much things usually go for.

I'd like to do some research online before going anywhere, that way even I'll know if agents try to screw me over when they're driving me around from one part of the city to the other. Is there a place where I can see general index prices per district of the city?

I live in Beijing.

7 years 18 weeks ago in  Housing - Beijing

 
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Posts: 3046

Emperor

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I do not trust or use real estate agents for renting a place, since their fee is based on the rental charged to you, they will not have their best interests in mind when dealing with you.  Also remember that most apartments listed on Internet are listed by rental companies (or real estate agents), not their owners.  Again, they will not be willing to lower the rent or negotiate a price at all.

What I do instead is to go to the Admin Office of a building complex and ask if any apartments are available for rent, and their fee.  If interested I ask to be contacted by owner, since they normally will not give you the owners name or phone number.  If owner contactes me, then I do negotiate price by offering a longer than one year contract, maybe paying rent 6 months or a year in advance, etc. 

My existing apartment was on the marked for almost 4,000 Rmb per month.  I lowered the rent to a total of 2800 Rmb by offering a two year contract, and paying the rent one year in advance.  It was accepted.  My contract will expire in August 15, 2012, I already found a similar unit in the same complex, a lot prettier and with more furniture, taht is empty today.  Already talked to owner, and if by September 1 is still empty, it will be mine for 2500 Rmb per month, one year rent paid in advance.

Suggest you try doing the same.  It may work for you too.

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7 years 18 weeks ago
 
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HappyExpat is really correct. Also, the price can almost be cut in half if you offer a multi year contract and pay a 6 month to one year deposit

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7 years 18 weeks ago
 
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HappyExPat, how many rooms your will-be apartment has?  And you live in Bejing or Shanghai?  Why the price is so low?yes

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7 years 18 weeks ago
 
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Emperor

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If you are a foreigner, it is overpriced...cheeky

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7 years 18 weeks ago
 
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