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People like me that are moving to Chengdu (or just interested in it) but haven’t been there yet may be interested in watching the Chengdu episode of House Hunters International that airs on HGTV 8/8/2011 @ 7PM Eastern.
Home & Garden Television. It’s a cable network here in the US. Actually, just searching their website for info on the show it looks like you can watch it online.
http://www.hgtv.com/video/taking-a-chance-in-chengdu-video/index.html
Description from the site:
When Richard Tsao’s boss offered him a new job in Chengdu, China, he knew moving there meant taking a big chance. But since he and his wife I-Leen are both first-generation Chinese-Americans, the move is also a way to help their daughter Elise get acquainted with her heritage. But the Tsao’s aren’t able to sell their house before heading off on the 6,300 mile journey from Seattle, Washington, to Chengdu, China. Limited to a budget of just $300,000, the Tsao’s are lucky to have real estate agent Dustin Mills helping them on the hunt. The Tsao’s want a home that’s conveniently located and that offers a Chinese atmosphere, but doesn’t make them feel like outsiders. Dustin pulls out all the stops to show them some good options, but as their old house lingers on the market, coming up with enough cash for China’s customary 40% down payment becomes a big issue as House Hunters International goes to Chengdu, China
Hands up who has $300k to drop on a house in Chengdu!!
I’m still interested to see the search though, especially knowing how bloody dire construction standards are here.
You can get a very luxurious place by China standards for that much (200万). I’m going to watch this online if possible. Thanks for the heads up!
edit: it’s working!
I just watched a bit. Judging by the places they are looking at, 200万 is just the mortgage down payment.
LOL I knew the “limited to JUST a $300k budget” would get some attention. 😛
I didn’t catch the name of the 1st place, but I recognized the names of the 2nd & 3rd from when I was looking at my housing options. I’m just glad I don’t have to buy anything as I’m happy to rent & apparently don’t have nearly enough money to buy anyway.
April news, the average price of ordinary housing in Chengdu:
Within the Second Ring 9980 yuan / square meter;
First Ring Road to the Second Ring 7500 yuan / square meter;
Suburbs 7400 yuan / square meter.
June, Chengdu villa average transaction price for 12,005 yuan / square meter
$ 300,000 in Chengdu, you can purchase a nice home.
I paid 1950 kuai per square metre for a decent 2nd hand one just next to bookworm in 2004 (maybe 2005). Stupidly sold it 18 months later. Back then buying a place was a bit of a laugh, not the serious dough it is today. Pity the young chinese guys who MUST buy one. Happy to rent these days… (hence my single staus)…
1,950 / m2! That is incredible at that location. Out of curiosity, what made you sell 18 months later?
I imagine a place like that now would be worth at least 3x as much.
By the way, here’s a great post I stumbled upon this morning about empty apartments in China and the housing market: China’s Empty Apartments.
I’ve actually just finished my (2nd) bachelor’s degree in Real Estate. I did an internship with Cushman & Wakefield Chengdu and wrote a thesis on the evolution of housing prices in the secondary market (in Belgium) so I’m pretty excited to watch this 🙂
I’m moving back to Chengdu and am interested in buying property. Now all I have to do is collect 300k.
HAHA I find it hilarious Dustin (Maxelli) was on house hunters and desperately need to find this episode.
Don’t get me wrong, I know very little (read: nothing) about property in China. I worked with their commercial department and helped overseas clients who were looking to lease office space in Chengdu.
The thesis was an empirical research about the price evolution in Belgium and its causes.
Nevertheless this stuff definately interests me and if I’m able to add any value to this topic I sure will!
I can watch it on Hulu.com, I pipe my VPN out from San Fran – it’s always listed, just have no interest in watching people house hunt. I’ll search for this ep and see how silly they can make ’em look trying really hard to speak extremely thick Sichuan-hua!
Just finished watching it and there’s not much to it. Just a family looking at a bunch of places. Fun to see though how it’s partially about the Waterfront as that’s where I used to live 🙂
Pretty sick though how the place they bought would easily cost 5 times more in Belgium. With Chengdu being one of China’s fastest growing major cities and its expansion of economic growth with all those Fortune500 companies coming in, I think it’d be very profitable to buy a place right now…
Profitable to buy a place right now?
Student of real estate?
I’d wager you’re high. 😀
There is no way I’d consider buying property right now. Surely you’ve studied housing bubbles, factors and indicators leading up to them, and the current state of China. Sure, Chengdu is growing, lots of companies are moving manufacturing etc here… but do you seriously think that the workers who populate those factories can buy houses here? I get monthly China Real Estate analysis in my mailbox and have for some years, while, I don’t always agree with the conclusions – looking at the reality that so many property sales are to investors who sit on property for resale and the utterly enormous amount of real estate development and *already very high price* when considering the income of the market, invest/resale may end up with nobody able to afford to buy, and when the market shifts (or has shifted, the amount of real data coming out is limited by Government trying to control and prevent a bubble from popping at the moment) from seller’s market to buyer’s market everything starts to c c c cruuummmmbllleeee…
Like I said I know nothing about China’s real estate or its economy haha. It was just a brainfart 🙂 Where did you subscribe for that monthly analysis?
Btw the guy in the vid seems pretty funny lol, has anybody ever seen him? <offtopic>I wonder what internet connection he’s using since he’s an online game developer, so he must have top notch… (I reaally want a decent connection, stupid chinese internet connectivitiy)</offtopic>
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