Will You Buy House In Beijing At Such A Ridiculous Price?
- Date: 2010-10-02 - Word Count: 402
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There are many things in China I could categorize under the so called "culture shock", but the ridiculous housing price is not among them.
You may ask how much does it cost to buy how a house in China? Well, that depends. China is a huge country with so many cities and you should always bear in mind that China has 1.4 billion people. You could just imagine the third tier cities in China, or you could think about any small city in Ohio as counterpart, still got over 4 million people living in.
There are around 30 provinces in China, and Beijing, Shanghai, Tianjin and Chongqing as the bigger 4 municipal cities. Different cities in China may have different property prices. The price you paid for a 100 square meter house in Beijing may well support you buying 3 houses of the same size in most capital city of the 30 provinces. The same amount of money could even buy 6 houses in the third tier cities in the 30 provinces.
The price of a 100 square meter house in Beijing is around 3 million Renminbi, which is about 420,000 US Dollars. Yes, that is the price of buying a house in Beijing where the average salary is about 5000 Renminbi per month, that is bout 600 US Dollars.
Beijing and Shanghai are the two most attractive cities in the country where there are the most famous Universities and all kinds of cultural events. Most young Chinese have the desire of pouring into cities like this where there are more opportunities and much more salary compared to their home town.
But the housing price made it impossible for those ambitious Chinese to settle down in the city. Even they work hard for 10 years and rise their salary 10 percent each year, they still can not afford to buy a house in the city, which made most of them depressed.
With the same amount of money of buying a house in Beijing, the Chinese people could even apply for immigrate to Canada or USA, where there are better education and health system. And more and more Chinese are aware of that and start considering whether it really worth that much of buying a house.
Like many economists said, there is huge property bubble in China, it seems that everybody in China is aware of that, but nobody knows when and where it will burst first.
You may ask how much does it cost to buy how a house in China? Well, that depends. China is a huge country with so many cities and you should always bear in mind that China has 1.4 billion people. You could just imagine the third tier cities in China, or you could think about any small city in Ohio as counterpart, still got over 4 million people living in.
There are around 30 provinces in China, and Beijing, Shanghai, Tianjin and Chongqing as the bigger 4 municipal cities. Different cities in China may have different property prices. The price you paid for a 100 square meter house in Beijing may well support you buying 3 houses of the same size in most capital city of the 30 provinces. The same amount of money could even buy 6 houses in the third tier cities in the 30 provinces.
The price of a 100 square meter house in Beijing is around 3 million Renminbi, which is about 420,000 US Dollars. Yes, that is the price of buying a house in Beijing where the average salary is about 5000 Renminbi per month, that is bout 600 US Dollars.
Beijing and Shanghai are the two most attractive cities in the country where there are the most famous Universities and all kinds of cultural events. Most young Chinese have the desire of pouring into cities like this where there are more opportunities and much more salary compared to their home town.
But the housing price made it impossible for those ambitious Chinese to settle down in the city. Even they work hard for 10 years and rise their salary 10 percent each year, they still can not afford to buy a house in the city, which made most of them depressed.
With the same amount of money of buying a house in Beijing, the Chinese people could even apply for immigrate to Canada or USA, where there are better education and health system. And more and more Chinese are aware of that and start considering whether it really worth that much of buying a house.
Like many economists said, there is huge property bubble in China, it seems that everybody in China is aware of that, but nobody knows when and where it will burst first.
Related Tags: housing market
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