The bubble in Shanghai Real Estate is there but when will it burst? We don't know; but lots of experts are expecting post 2010 the World Expo. Will it? Not sure. But now, Disney is going to build a Disneyland about 20 minutes from Shanghai Pudong Airport. To be open in 2012. Seems, the Shanghainese government wants to launch something big every 2 years. Will this latest keep the bubble going? Who knows.
After an all day tour, iron-wife and I turned around and out to have dinner with her former boss. It's a new area by the Hongqiao Airport; she moved in not even a year but bought this place about 1 1/2 years ago. There were 29 building in the entire development with indoor/outdoor pool. Gym, tennis courts and a few others. Security is high to the nth degree. Swipe card entry only. And the door to the apartment itself, can be opened by combinations or remote key fob. And if you use the key fob, once the door is unlocked, you hear a female voice from the lock saying "kai men la" (door opening). Ha ha, how funny was that?
Anyway, this place is cool; it is about 160 sq m. (1,722 sq ft). 3 bedrooms, two with ensuite full bathrooms. One guest bathroom with shower. An office, a living room, a huge balcony front and back, a full size u-shape kitchen. When she bought this, it was about RMB20,000 per sq m. One and a half years later, it is about RMB40,000 per sq m. Now do you want to sell it or keep it hoping it might go up more? At current pricing, the house has appreciated from RMB2.5 plus to about RMB6.2 plus... Really scary thought here.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment