Me start looking for an apartment to purchase; the numbers from Feb and Mar indicating apartment prices were beginning to fall; but not right now; it actually has gone up, ridiculously too. And there were developers "paying" people to line up in front of the sales office making it looks everyone must buy.
I have checked some real estate website and talked to some people that are looking too. Yikes. The area around where we are staying, it can go as high as RMB$30,000 per sq m. The Jing'An district where we are, it goes from RMB$20,000 to 35,000 per sq m. The Four Seasons resident just down the road is all sold out. I took an average of the per sq m price to calculate our current rental apartment value; well.... for our 1,400 sq ft apartment, it is being valued at RMB$2,4Million! $2.4Million for a 80 years old apartment. People are looking else where to live, can be as far as 60Km away because apartment is cheaper - about RMB$8,000 to 10,000 per sq m. Yikes. Who said the gov't policy is working to curb the real estate market.
No comments:
Post a Comment