Quick Facts About Housing Prices In Beijing and Shanghai

0
Quick Facts About Housing Prices In Beijing and Shanghai

All Chinese people dream and work hard just to buy a house, preferably without a mortgage. However, soaring housing prices in China continue to turn those dreams into nightmares. Here are some quick facts about housing prices in Beijing and Shanghai.

Housing prices in china

Housing prices in Beijing

Back in 2015, being the capital of China, Beijing was already 8th among the world’s top 10 cities for housing price growth. Policies for lowering down payments for first-time buyers set by the central bank stimulated purchasing demand and consequently triggered a rise in prices. In Beijing, housing prices have been rising since 2000 with a drastic price rise in 2009 reaching an average of 20,000RMB per meter square.

Since then housing prices in Beijing have been growing steadily and now range from 25,000RMB to 11,0000RMB (about $3,600 to $16,000 respectively) per meter square depending on the area. However, it is said that there has been a slight drop in home prices recently in Beijing. Could this be an ideal time to purchase a property?

Beijing housing

 

Housing prices in Shanghai

Shanghai topped the housing price list with an average of 42,000RMB per meter square. In Shanghai’s high-end market, the average residential property price has skyrocketed and exceeded 70,000RMB (around $10,000) per meter square.

Shanghai is a popular destination among Chinese and foreign job-seekers, as well as businessmen, therefore some local people think “outsiders” contribute greatly to the rise of housing prices. Indeed, increasing purchase demand does play a role here when it comes to housing prices. However, the local government still needs to take the initiative to stabilize the real estate market and make housing more affordable.

Housing Prices In Beijing and Shanghai

 

What to do about housing prices in Beijing and Shanghai?

Problems with high housing prices in Beijing and Shanghai have caused heated discussions among property developers and ordinary Chinese people. Some people believe that price bubbles do exist in China and policymakers are well aware of how housing price bubbles can harm China’s economy. Maybe it’s time for them to take measures to prevent further price growth.

Related Posts

About Us

That’s Mandarin Blog offers tips and advice on living and studying Mandarin in China, and explores the stark cultural differences between the East, the West – and everything in between.

Powered by That’s Mandarin Language School

Follow Us

Popular Posts

Chinese Style of Parenting
Chinese Style of Parenting
VanyaJuly 25, 2018
Chinese Rock Bands
Top Chinese Rock Bands
redhairmasaMarch 25, 2019
dongbei food
5 Top Dishes To Order At Dongbei Restaurants
adminJune 7, 2017

Categories

Calendar

September 2019
M T W T F S S
« Aug    
 1
2345678
9101112131415
16171819202122
23242526272829
30