Tales of City

I have been looking for an apartment in Shanghai for several months, but without any progress, I am still waiting for a better timing since it looks like that the house price is slipping in China. The question is when it is the best chance?

This July, I had gone to see two residential quarters in Jiangqiao town of Jiading District. The average price was about 20k RMB per square meter. Recently I have received several text advertisements, all said that the property developers have special discount. Xiangfuwan, for example, has 10% off discount and provides extra 25k funds for buyers.

It says that Vanke, the top resident property developer in China, is selling all its houses with as much as 30% discount. The sales office of  its property called Qinglinjing was smashed by its customers who bought their apartments before the discount with higher prices. Similar smashing occurs in several other sales offices, not only in Shanghai, but also other cities, like Beijing.

Now the government still claims that it will not loosen the economic policy, and Premier Wen Jiabao said that the government is determined to control the house price. But to be true, the government lost its credit in the past years.

If it is not the best timing to buy an apartment in Shanghai now, then when?

I am looking for an apartment at Jiangqiao of Jiading District, where is very close to Changning and Putuo District. After two weeks’ field investigation and related information search on internet, My final decision, concurring with my girlfriend, is to  quit from the Jiangqiao area.

Last Wednesday, we went to Jiangqiao at first time via metro line 11 at Taopu newly Village station. It is only 3km far away from Jiangqiao, but there is no direct bus and we had to take a tricycle. When crossing Taopu highway, we saw many dense residential buildings, which does not give us a good impression. We knew they are Jiacheng residential quarters later. Read full story…