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Buying A Home in China

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Willy The Londoner:

--- Quote from: JohnB on March 16, 2014, 02:00:05 am ---
Willy,
kind of curious. what are the going prices of new apartments? May I ask.
Trying to get an idea of the China terrain thing of things, as to what is doable.


--- End quote ---
The prices in Zhongshan are quite reasonable at the moment compared to the most popular and highly populated cities.

Our present apartment is valued between 450 and 500,000 rmb.

Our new apartment which will be finished to our specification will probably work out to a little under 1 million rmb fully furnished.  But there are many other pre owned completed 3 bedroom apartments for sale at prices between 550 - 800,000 rmb.

As I say the prices in Zhuhai are a little higher then go up considerably in Shenzhen and very much higher in Guangzhou  compared to here.

The prices will rise a little more now we are connect to the high speed line to Beijing.

I paid 2400 rmb rent in Zhuhai and then when I first came to Zhongshan the monthly rent dropped to 1400 rmb

Willy

Scottish_Robbie:
.......will have a lot more room to wander around in. .....

Will that be AFTER you walk up those flights of stairs......AFTER COMING UP THE STAIRS WILLY YOU'LL BE HALF DEAD MATE....!! :( ;D ;D ;D ;D ;D

David E:

--- Quote from: Willy The Londoner on March 15, 2014, 10:19:31 pm ---With the bank interest rate being very low here and maybe getting a 6 - 7% from renting then that may be better than selling. :-\

Any thoughts on this.   Better still anyone want to rent a home from the New Year? ::)

Willy

--- End quote ---

Willy

As always us "older" folk consider assets in a slightly different light to the young bulls out there.... ;D ;D

When you are young, with time on your side, asset growth is important.....ultimately it is your assets that will contrive to keep you in some form of luxury as you get older, you convert assets to cash and benefit from the slow and steady growth of these assets over the long haul.. If, however you are at the "twilight" of your life, then cash is King !!!!

So to keep your 2nd apartment for rental would only give you marginal asset (future cash) growth in the short/medium term, whereas converting that current asset to cash gives you immediate access for whatever you need over the next phase of your life.

That is sorta how I planned my own retiremant and now I am steadily selling accumulated assets plus superannuation cash to generate the amount of income to keep us in the style that we wish. If, however I live to 120 years old (!!!!!!) I may run out of assets.......(dont think that is a likely outcome).... :-[ :-[ :-[

Willy The Londoner:

--- Quote from: David E on March 18, 2014, 06:04:43 pm ---
If, however I live to 120 years old (!!!!!!) I may run out of assets.......(don't think that is a likely outcome).... :-[ :-[ :-[

--- End quote ---

What living to 120 or running out of assets? ::) ;D ;D ;D

We will probably sell because as years go by the value of older homes must fall as their life gets closer to that 70 year mark. Still a way to go for our present one but it is a consideration.

I have toyed with the idea of buying  unfinished homes and then sit on them until the complex is completed and then sell. You can get an idea of the increased value in these unfinished properties from the sale prices asked as the values rise for the last few homes available on these complex. 

My brain will never allow me to retire, retire, until its normal functions cease altogether.

Willy

Willy The Londoner:

--- Quote from: Scottish_Robbie on March 18, 2014, 07:29:41 am ---.......will have a lot more room to wander around in. .....

Will that be AFTER you walk up those flights of stairs......AFTER COMING UP THE STAIRS WILLY YOU'LL BE HALF DEAD MATE....!! :( ;D ;D ;D ;D ;D

--- End quote ---

Hopefully I will be able to continue climbing the stairs to our existing home for the short period we will be staying there as it is there that there is no elevator. The new place has two elevators and each floor serves four apartments. And it has a plus considering it is Chinese and that is it has slopes which affords wheelchair access should I ever get to that state.  ;D ;D ;D ;D ;D

Willy

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