Shanghai Residential Property Market
Shanghai is geographically divided by Huangpu River into the Western district Puxi and Eastern district Pudong. Location Historically, most expatriates chose to live in Puxi because of the proximity to the many office towers and districts, the convenience of living within walking distance to restaurants, grocery stores and shopping malls, and the charm of being surrounded by historic tree-lined streets, and low rise European-style architecture. The most popular neighborhoods include the Former French Concession area, Xintiandi area (located in Luwan district), the Jing’an Temple area (located in Jing’an district), Gubei / Hongqiao area (located in Changning area near the Hongqiao domestic airport), and the Hongmei Road area (located in Minhang district), and the XuHui Garden area (located in Xuhui district). Recently however a growing number of expatriates, especially those who work in the Lujiazui or Jinqiao business districts, or who have children attending one of the international schools, choose to live in Pudong to avoid the heavy traffic crossing over from Puxi. Many multi-national companies their head quarters in Pudong and more are expected to move in the coming years. Another attraction is that most of the properties in Pudong is newly built and often tailored to a Western style of living. Country clubs, sport facilities, restaurants, and shopping malls have all sprung up in Pudong, to cater to the new group of expatriates who prefer to live a typical westernized life in like-minded communities.
Property Type.Housing for expatriates in Shanghai covers a wide spectrum of building styles, environments, and price ranges. The most common types of property are grouped into new developments (new villas and townhouses, new apartments, serviced apartments) and historic residences (old garden houses, lane houses, old colonial style apartments). The new properties in the city generally have 24-hour management and security services, with modern club facilities onsite.Most of the historic properties have restored the original architecture styles, and are hidden away along quiet tree lined streets.Rents There are essentially three price brackets for expatriate rental property. The lower band ranges from US$ 1,000 – US$ 3,000 (RMB 7,000 – RMB 20,000) per unit per month; the middle band ranges from US$ 3,000 – US$ 5,000 (RMB 20,000 – RMB 35,000) per unit per month; and the higher band usually ranges from US$ 5,000 – US$ 10,000 (RMB 35,000 – RMB 70,000) per unit per month. The rental rate for expatriate-housing properties varies significantly based on location, quality, property management, and incorporated facilities/amenities of the properties. At Phoenix Property Agency, our agent’s extensive knowledge and experience in the Shanghai Real Estate Market will assist you finding the perfect home away from home.