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B4G Property – Shanghai

Shanghai is looking to attract both it’s own skilled professionals back to the city and they also want overseas professionals to live and work in the city.

B4G Property has had a look at the options if you wish to live and work in the city .

Shanghai is indeed one of the most expensive cities if you wish to buy property with an average 1,000 square feet apartment in Shanghai selling for over $800,000 USD and with Shanghai’s average salary for skilled professionals at around $2500 per month the option of buying is out of most people’s reach.

Interestedly Shanghai is less expensive than New Your,outside of housing

Rents on a dollar basis are higher in Shanghai than they are in other emerging world-class cities and Shanghai is 19% more expensive then Moscow,74% more expensive than Sao Paulo and 121% more expensive than Mexico City.

However the good news is that Shanghai property and rental prices are starting to slow down We are looking at new developments coming on stream with the city planning to supply land for an additional 20,000 rental homes before 2019.

The Government have an ambitious goal of providing 700,000 rental homes from 2017 to 2020 which would account for 41% of new supply to the market

Depending on what your budget is and what area you would like to live in, Shanghai has a solid mix of affordable apartments and condos including,

Pudong Skyline Mansion Apartment 3 ned 3500 yan

Jingan West Nanjing Road City Castle 24900 Yan

Hongkou Rujhong Ming Ting 2 bed apartment 15900 yan

XUHUI WUZHONG XIAOQU 1 bed apartment 13500 Yan

JINGAN CRYSTAL PAVILION 3 bed apartment 36000 Yan

In China in general the housing market is cooling with the average price of new houses in China’s 70 cities rising by 5.3% in December 2017,this was a sharp slowdown from December 2016 at 12.4% .

Beijing saw no price increase while Shanghai saw a small 0.2% growth month -on-month with the second -hand price index slightly falling by 0.2% after a 26.8% price increase in November 2016.

As prices drop this is a good time to live and work in Shanghai and we suggest that you register your cv on this platform or send it to chloe@back4good.ie and we will take it from there for you.