Buying house in Shanghai Series: I
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I have thinking about this for a while. But I was not convinced to buy, until this week our new landlord wanted us to move out sooner than we would like to. Here comes the inconevience of renting. Another reason (make me consider buying) is the rapid rise of home prices lately. You know we all like to buy stuff when it goes up, not when it goes down 🙂
I did a little homework: mostly pay attention to the listings outside broker’s office; talking to brokers or developer sales people. Now I have an idea about the apartments around Zhongshan park. Those are two apartment complex in the walking distance (2 or 3 mins) of Zhongshan park metro station. Not surprisingly the ave. price is more than 20,000 Yuan per square meter. There are not many small units (I mean one bedroom apartment) in those two. A two bedroom apartment usually takes 100 sqr meters, or more than 2 m Yuan. It’s no small amount considering annual salary of 120 k (or 10 k per month) is considered high for white collars here.