Topic: How do you think about the housing price in China? (Read 3044 times)

Estonia is suffering from brain drain on a massive amount. A large portion of the workforce is now based in Finland (the Finnish language is very close to Estonian) and the other EU nations (such as Germany and Norway).

Plant a garden?   

According to a few recent articles I read about the Chinese ghost cities, they're actually slowly starting to fill up. Maybe the Chinese like to build it before they come.

I think that's a far more appealing idea than the city imperceptibly growing around you. I'd love to move into an entirely empty place and see it slowly come to life.

Of course, the good part about all this is, when the dollar crashes, they will have already switched to gold for money. Then, while most of the world is in turmoil, the smart ones among us can move over there and have a city to live in.

Aren't they going to build another $1.5 million vacant city? Just read it in the news.

Industrialization brought real prosperity to the people by lifting  their life standards that was something that did not happen when an improvement in technology happened in the pasty so you are wrong.

For the acquisition of housing in China, foreigners have certain restrictions. During the wave of growth of the Chinese economy, the demand for housing in China from foreigners has increased dramatically. However, in order to exclude speculative transactions, the Chinese authorities introduced a number of restrictions on the purchase of real estate by non-citizens of the country.

I see no such offers.

I think that this the price of property is the consequence of this strict immigration policy. The video shows that there is a fairly large company and it is experiencing a big problem with the workforce. Without the help of migrants in the city and this company can die.

https://www.youtube.com/watch?v=q7HJ0qpMiS4

No job and if You got it the salary is low.


Russians are 24,8% and there are other "native russian speaking".
The problem is a low rate of bilingual people in comunication.
Russians, Russian speaking and estonians have few contacts in allday living.

In that way, who is working online - there is a possibility for a cheap appartment.

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Estonia

You'll never get an Estonian passport, unless you achieve fluency in the Estonian language (which is notoriously difficult to learn). Even those individuals who were born in Estonia, and lived there for their entire life have been denied the citizenship due to this requirement.

I don't know what's the catch. A very beautiful little town. I would love to live in it. On the streets I do not see any cars or people. Something's fishy. What's the catch? Maybe the problem is to obtain Estonian citizenship? In any case a very interesting fact.

It's similar in Europe, not as bad as you say though. An average Londoner uses half of his monthly wage to pay the rent. You get similar prices in Eastern Europe. A 100m2 house (which is quite small) costs over 200k € and the average wage is around €10k a year , so you'd have to save up 100% of it for 20 years to buy a small house in the city. Usually nobody can afford it and people buy on credit and pay it back in the next 30 - 40 years.

Do You have in China 50 м² apartment for 3 500 € in a city with shops, schools, Hospitals, etc?
I put here this info for desperate people, who see no exit for the life dedicated to payout the apartment price.


Do You have working skills?
https://www.youtube.com/watch?v=5HKEg-UJUM4

Kohtla-Järve is waiting You
https://www.youtube.com/watch?v=qYeI1djloO8

I wonder at all the people live? The picture is not visible to any person. Several cars and all. These abandoned towns, many around the world. Even in a developed country like America there are towns where there lives only one person.

I'm talking the housing price in super city like ShenZhen and ShangHai, you should take Tokoyo or Lundon as example instead of somewhere in the countryside.

I'm talking the price in first-tier cities in China, not the average hosing price in China, however, in most cities the price is still affordable.

What will you do there. Well if you are a pensioner, and what to do young man? I think that this price is for housing for the reason that in this town simply do not work. In the countryside to take up farming, and what to do in this town?

Hi, mister is curious about prices around the Globe.

Who is corageous to buy 50 м² for 3 500 € + 20% VAT in Kohtla-Järve?
European Union

And what have Kohtla Jarve? It is a city in Estonia. Nothing you confused? In the thread it was about China.

50 м²
3 500 €
Kohtla-Järve, Ida-Virumaa
https://www.okidoki.ee/ru/item/5982785/


70 м²
7 550 €
Kohtla-Järve, Ida-Virumaa
https://www.okidoki.ee/ru/item/6122927/

China has always been a country that goes through similar issues that Western Countries faced by they seem to lag behind with the issues by some amount of time, in my opinon we're going to see some sort of housing bubble collapse in China due to the rapid growth of pretty much every sector in China which is leading to insane amounts of housing sales.

As we know, this is the same issue that the US faced and it blew up in 2008 when it officially came to light that mortgages were being given to people who really couldn't afford them and companies started going under. Probably going to see the same thing happen in China at some point.

Housing prices will fall, they'll just have to go through some sort of correction period like the US did.

The high housing prices have nothing to do with the one-child policy. On the other hand, if the policy was not there, then the prices would have been even higher. The main reason is the heavy migration from rural areas of China to the major urban centers. The government has completely failed to create jobs in the rural regions.

I think that a lot of those houses are being used by Chinese officials to park unneeded funds. This creates a massive housing bubble and younger generations can't find anywhere to live, but to rent out.

Same thing here in Australia, people are rushing to buy every house they can find in Sydney and Melbourne because the sheer number of Asian immigrants that have considerable wealth brought into the country with them.

Every time you go to auction, you'll see like 50 Chinese people.

I guess wherever Chinese people go, they'll drive up the housing prices. But obviously it's a bubble, it's going to pop sooner or later.

We all know that China has one hell of a population. They are so many that I think they have a law concerning about how many kids can be born in one family. That's why the price of housing there is really high, there is a high chance that someone will try to rent in your property especially if it's in the main city like Beijing.

The population growth rate in China is not that high. But the demand for urban housing is increasing due to the migration from villages to the cities. But in due time, this will stabilize, as the immigrants from villages to cities (mostly job seekers) will be balanced by return-migrants (mostly retirees) who go back to their villages.

The crazy thing was buying the tractor also and parking it on site.

Actually I don't find it 'crazy' exactly considering the constellation of issues.  The number of privileged people who are not yet obsolete are shrinking and the rate is predicted to turn rapidly exponential in the fairly near future.

I've thought about it a little bit and, not being a Libertarian purist, I think a solution worth exploring would be to tax automation up to the point where it is something of a wash whether one automates or goes old-school and hires humans.  In this manner I would hope to avoid the inevitable easy-way-out of just covertly killing off the useless eaters and sterilizing the ones who remain.  Of course that would work also and has it's appeal to some of those who currently hold power.

Paying 1000 daily workers in china and india for 1 year cost less then or around buying a machine for 100.000 $.

A bit crazy yes.

I heard tales that rural Chinese were being rounded up at gunpoint at a rate of million/month and re-settled in the former 'ghost cities'.  When I checked up, it seemed like there was at least a little bit of credence to the story.  Oldsters (late 40's plus) kind of wandered around playing bad-mitten without much to do.  At least they were not being made into soy-lent green.  Yet.

Presumably the rural lands are being aggregated into corporate ownership.  At least the ones not given to UNESCO to become 'world heritage sites'.  Pretty much just what U.N. Agenda-21 calls for.

I've heard that when the Soviet Union fell apart the govt gave oldsters their flats for life.  When the Oligarchs bought the buildings the death rate of oldsters in certain buildings increased markedly.

Seems like the only thing worse than collectivism is 'moving on' from it.

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Another thing I noticed when I was in Beijing was it was like a fireworks show at night from the arc welding in buildings under construction.  As I wandered around it seemed like without exception every fuckin one of the workers was quite old, or at least looked that way.  Someone told me that young people in Beijing simply refused to do physical work.

Another construction story.  This one from India.  Bangalore which is sort of the Silicon Valley of the nation.  I watched women carrying dirt in baskets on their head from one side of building foundation to another.  Decked out in sarees even!  They actually had to step around a parked wheel hoe which could have done a woman/day's work in about 1 minute.  Local politics made what looked outwardly like insanity something which probably did make some sense in a funny way.

In large cities, available space to build houses so declining home prices will rise, poor people will live in apartments and over time will be more renters because it will be further impoverishment of the people.

I presume that corruption is rampant.  Doesn't matter a whit what the codes say (if anything.)  The only thing which probably matters at all is whether the inspectors will accept the bribe you are willing to pay.

Public demand would go a long way toward inducing better construction but as far as I can tell that was almost completely lacking.  I don't think it even mattered to the peeps what the place was like in this respect or even what it looked like.  The only thing which seemed to matter was in what year the construction took place, and it seemed to need to be within the last three years or so in order to be acceptable as a status symbol.

Yesterday i saw a real estate offer at my bank:

House 130 m2 + 600 m2 land for just 40.000 €.
House is from 1935 but for something in the heart of europe it isnt bad at all...

This is quite shocking. People are paying so much for these new apartments, and in the end they are getting low quality flats. I was always thinking that the civil authorities were strict in China. Why the authorities are not doing anything against this? Or is it due to the fact that the customers are happy with the apartments they got?

I noticed when I was in Beijing around 10 years ago that people were almost neurotic about wanting 'new' places meaning recently built.

The funny thing was that the quality of new construction was astonishingly poor.  I lived in a place which had plumbing problems that cropped up even before the building was complete.  The pipes corroding amazingly quickly and were embedded in concrete making them impossible to get to.

A low-res picture of my apartment looked outwardly like a luxury place, but up close things were amazingly chintzy.

I had the pleasure of watching some construction of a home within the first ring, and visiting a house within that ring.  Very different story with respect to workmanship, although the appearance was very plain and traditional (and, to me, pleasing.)  I believe that real estate within this zone is extremely expensive and nearly impossible to obtain, but also that it is not at all the norm in China.  Maybe most cities have such zones.

I have heard that the public transport system is very cheap and efficient in China. If that is the case, then it may be a good idea to purchase a house in the outskirts, rather than going for one in the inner city. It can save a lot of money for the buyer.

Today it is very popular to buy property in China. You can not even think about deception. Responsibility for such a "deal" is punishable by a term of 10 years in prison to the death penalty. The cost of purchasing one square meter costs an average of 400-500 $, in addition, a pleasant moment will be the cost of utility payments. Which is much smaller than in other countries.

I'm talking about the downtown areas, the price in Futian/NanShan District can even be 150 million or even higher, it's truth that happening in this country.

While the price in lower tier cities is much cheaper than the first-tier one, something like 200K dollars or lower.

If you look at the level of the automobile market, then China is very much appreciated because of the high demand for premium cars, and this already shows how rich people live in China.

From where did you get this information? Look at the average wages and living conditions before the industrialization, and compare that with the situation now. I am sure that you will find out that the conditions have improved for 99% of the people.

Industrialization and prosperity in the U.S. was associated with the decline in families and predation by the super rich on the poor.

China has a lot more history than the U.S., traditions like Buddhism and Taoism etc, so we'll have to wait to see if they are also dragged down by wealth.

I think that's the case for visitors from countries like the US and Europe. The high exchange rate gives them more bang for their bucks. I can see why there are people retiring here to the Philippines despite the summer weather and security concerns. If you're from a developed country, you'd find cost of living in developing countries much cheaper than what you were accustomed to.

I'm still curious how those high-rise complex in China are managed though. Would be nice if there's anyone here from China to talk about it. If all those buildings are public housing, then kudos to the government.

Universal income sounds awfully close to communism and if you think capitalism does not work then communism is way worst since it has never worked.

50 м²
2 000 €
Mäetaguse, Mäetaguse vald, Ida-Virumaa

https://www.okidoki.ee/ru/item/6064491/


46 м²
1 999 €
Kohtla-Järve, Ida-Virumaa


48 м²
3 400 €
Kohtla-Järve, Ida-Virumaa
https://www.okidoki.ee/ru/item/6063284/


73 м²
12 000 €
Kohtla-Järve, Ida-Virumaa
https://www.okidoki.ee/ru/item/6096846/

Need a place in European Union?

This is when it comes to modern homes, then their price is really big. Perhaps the situation with the apartments is a bit different, but if traditional building materials are used, then I think there is wood and plywood in China and it is not expensive.

The price of housing in china is cheap too because it mades of marterials that made in china lmao if you had work you can easily get house there it like installment easily house there are affordable

My view on the price of housing in China is that it is overpriced and if China isn't able to provide affordable housing to it's citizens then they will be drawn to other corners of the world. Especially those that have acquired certain skills.

Perhaps one of the reasons is that nowadays a lot of people are considering residential real estate as a good and reliable investment asset, which gives high returns in the short term. If people are aware of the other low-risk assets such as equities and treasury bonds, this sort of mad rush can be avoided.

I do not fully know the information on real estate prices in the Middle Kingdom, but the fact is that in general, life for visitors is very popular in China and is considered very cheap. Even rental housing is fairly affordable.

What about the housing on the "ghost cities"? Are they unoccupied because of high prices or was it because the government is still trying to get the residents to move in? Or was it because people refuse to move because they want it first to be fully fixed and functional when they move in, thus starting a cycle where everyone puts off moving? I saw a video on Youtube about it a few days ago.  https://youtu.be/ebluXrYElI8

Now that I've thought about it, are those apartments considered public housing where you rent to own it from the government or are these like mostly privately owned by real estate companies?

I admit that the house price that is increasing and abnormal has shocked me for a long time since many years ago.

I’m sure that it’s a bubble though I can’t figure out the true reasons. What I can guess is that the higher the price is, the more people who decide to buy houses.

As a old Chinese saying goes:“Running after Rising and Falling.” It showed that compared to something whose price is falling, we are more willing to buy the same thing whose price is increasing.

Sincerely, I dislike the horrible house price.

I guess the price of the commodities , house rent depends on the per person income .well lets say u stay in kolkata, the rent is cheap, cost of living index is low .
On the other hand if u live in delhi (capital), the rateis quite high ,both being a metropoliton city . Delhi people gets more pay than kolkata .

I don't think that this is going to last for a quite long time. Incidentally, this reminds me of the property bubble in Japan, which occurred during the 1980s. From 1984 to 1987, the commercial real estate prices rose by as much as 900% in Tokyo. The rise in some other cities, such as Osaka and Yokohama was even more. The prices crashed in 1989-90, and a lot of investors lost their money. The same is going to happen with Shenzhen as well.

That is not so shocking since it is happening all over the world and not only in China. Here in the Philippines though I am living in the rural my monthly salary is just 12k PHp while the cost of 1 house and lot in a subdivision is 1 million Php, compared to China's city the price of houses in the Philippines and the salary of professionals were much worst compared to China but we can still buy a house and a lot. In the end there are other ways to find other means to get money to pay for the house than just to rely on their salary.

In many countries, young people and not only they can not afford to buy housing freely. It takes years to plow and save, then to have the pleasure of waking up and falling asleep in your house. Well, or you need to come up with the idea of a stable passive income and without any problems buying any housing in any country.

All over the world in all the countries there are cities where the cost of living is so high compared to other cities. One cannot compare the cost of houses in Newyork to that of New Mexico they are just too different but that does not justify the fact that its not affordable to average earners in the country but the solution to that is Government to make policy that will make companies establish in those rural areas where people can work rather than concentrating in already densely populated areas of the country...

chinese graduate can get earn 12,000 dollar every month or every year
I think is very high price is house only 100M^2 until reach one million dollar, amazing price
maybe if iam domicile and china can't buy house with price one million dollar

but i think is house high price in china only beijing shanghai and hongkong

It's also starting to get expensive in my country. Prices near the city center are rising and there are condominium being build everywhere, especially near train stations. I don't believe people should be contented with such apartment units. Even if you "own" the unit you are not really free to do whatever you want with it. Not to mention you don't own the land it is standing on. Maybe I'm just traditional but I feel a typical house and lot.

The prices which you are quoting doesn't make any sense. Really it costs $1 million for a single apartment in Shenzhen? Even in ultra-expensive cities such as Hong Kong and Tokyo, it is possible to find more affordable housing.

I see China as the prototype for how the rest of the world is to work under global corporate government.  The CCP is endowed with the type of political control which makes such 'research and development' efficient.

While not especially easy to own a home, it is still possible for some in the major urban areas of China it seems.  When I was in Beijing it was the case that parents did everything in their power to get their male child a home so that he could attract a wife.  Resentment and demoralization among those who found it impossible was palpable.  The end-goal of TPTB here is back to having no ownership like back in the communist days, but this time corporations own everything and the peeps rent everything from said.  Currently we are in a phase where things go so bad that the people beg for a savior (which will, magically, just happen to come in just the form desired by corp/gov.)  Here in the U.S. the soft-points are in income and health-care though housing is also becoming increasingly impossible for most to achieve as well.

If I were an independent minded Chinese I would look to Africa for a wife, some property, and more than anything a way to get out from under the thumb of the CPP (and their sponsors) never to return.  No matter how things turn out it's probably a better play than sticking around in China (for the type of person I mention...most are probably better off with whatever their leadership arranges for them.  Probably 'bullet stopper' in a lot of cases.)

Welcome to globalised capitalism ..The rich get richer and the poor get poorer .
Then one day the whole bubble burst ..And then no one got anything if all your holdings are in cash..

Universal income for all  will make this planet good..IT'S THE ONLY WAY TO GO..

Entry level salaries for professions (not service jobs, but jobs that require degree) should be enough to just afford living in the city. If not, entry level employees won't live in these cities and work in these companies, which will inevitably cause the companies to raise their salaries to get the people they need.

Everyone in the country should not automatically be able to afford to live in any city in the country.

And if wages for service jobs are too low, the people that work those jobs should move to towns that do pay a livable wage. The result is that the wage in the expensive cities will go up.

That's how capitalism works. If there's supply (of workers in this example) to meet the demand (for workers) the pay won't change...it'll only change when supply is less than demand.

Do jobs in these "first-tier" cities pay more money?

America has a similar situation in Los Angeles, New York, etc

Rent in LA is 10x the national average, but they get paid a lot more too (or they wouldn't be able to afford living there)

The hosing price in first-tier cities like ShenZhen, BeiJing, ShangHai have risen to a unfordable high position for average Chinese people, for the average Chinese graduate, they earn 12,000 USD(2016) annually while in ShenZhen it costs almost 1 million to buy a average 100M^2 house(30% down payment).

It's difficult for young Chinese people to buy a living room in such first tier cities but most young people would rather choose the first-tier cities while the small cities has a lower price.

Share you view about the price in China and the one in your country.