I'd say detached homes within 10km of the CBD in Shanghai would be like hen's teeth, except perhaps for old courtyard houses?
Yes they are rare. But you can always find that kind of houses for sale in the market.Shanghai is so damn huge, and it's the largest city in the world by population(23M ppl there). I am glad I come to Sydney, which is like a huge beautiful village.
You think it is crazy that Sydney's house price increased 30% yoy? If you bought a property in Shanghai in late 2008, its value would have tripled to last year. In 2013 itself, the price there jumped 50%.In 2009, it's +100% contributed to the government's economic stimulus package for GFC.
Now property investing environment in Shanghai is quite stiff. There is property tax, 70% down payment for the second property and outsiders who do not work in Shanghai are prohibited to buy properties and many other curbs.
Comparing with Shanghai, Australia is like a heaven for property investments. Now many investors in Shanghai want to reap the profit and switch to other countries. The popular destination for them are US, Canada and Australia. Australia has many advantage to Canada and US. There is no property tax and inheritance tax here. Australia is almost in the same time zone with China, which is very important you know everyone hates jet lag. 20% deposit sounds like a amazing dream in China but it's real here.
Vancouver has a median house price of $1.3M, which is above Sydney's $0.93M. Vancouver was a hot place for Chinese in the past decade because it's very easy to obtain a investing visa in Canada.You only need to pay about $250,000 for it. Canada shut down this investing visa in Feb this year due to civilian's dissatisfaction. I think it will also have huge effects in Sydney property market.
In 90s, Hongkonger pushed up home prices in many cities in the world, due to the out-flowing migrants worried about HK's being handed over to China in 1997. HK has 8M people, while Shanghai + Beijing has nearly 50M people. If other wealthy cities in China counted, the number will be near 100M. I think it's a very precious chance to make awesome profit in this trend.
Omg my English is so poor that writing this post cost me almost 1 hour.If there is some language mistake please point it out, thanks.
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