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Hi all,
I am a theatre practitioner who will be coming to Chengdu to conduct workshops and work with some of the groups here in the near future and everytime I will be here for at least a month so I think buying an apartment here would solve the problem of finding lodgings everytine I am here, thus save on the high hotel rates.
I need some advices and help because I am not sure what are the apartments that a foreigner can buy and is there anyone out there who has contacts so I can speak to someone directly? I am an overseas Chinese so mandarin is not a problem for me.
Thank you and would appreciate if someone can offer me any kind of help.
“Save costs” – you wont save costs buying an apartment in Chengdu, with low rents, why don’t you just rent a place that you only use on occasion.
I will be spending abt 6 mths in chengdu every year so i think it is more worth it to buy an apartment than to rent.
Go nuts, but I’m telling you, that isn’t likely the case. First and foremost buying an apartment here is an ordeal. It’s not as simple as finding something you like, paying for it, and signing some papers – do you already have all the cash you need in country? Getting all that paperwork just to bring cash in for the purchase is a timesink by itself, forget the actual purchase and handover hassles. Besides the hassles associated with both purchase and ownership – rent is cheap relative to cost of purchase in Chengdu, unlike in many western countries where rent is often high enough that purchase becomes a more financially feasible option when possible.
That all being said, go nuts, but your request seems like you don’t know the market very well – and the logic behind wanting to make a purchase seems short-sighted…. could be wrong there of course, just seems that way. If you know where you are going to be working, that information would be a start to giving you an idea of what the cost and living conveniences are like in that area.
To give you an idea of cost – seems most (~100sqm) apartments these days in any reasonable area will average around 1mil RMB, unfinished and often take some time to be ready for you, and several hundred K afterwards finishing and furnishing..or a used place around the same with other pitfalls that come along with it — whereas renting many people spend 2-3k/month for a reasonable place, feel free to do the math.
Whoever u r, i tink u r not being helpful, u r just looking down on ppl, if i do not have the money to buy, would i even consider it? If u r not willing to give constructive advices, just keep quiet!
I am looking for real ppl with real helpful advices, not criticisms!
If you are going to buy, you have to buy under a local’s name. If you are not Chinese, it would be hard to buy an apartment. And Rick is right, if you want to save costs, rent an apartment, buying one is too expensive. There is already a thread up about this, do research before criticizing people. Rick has bought an apartment here, he has vast knowledge and experience about this matter.
Unless you got over 1million RMB to burn, no point in buying an apartment. Renting will save you for however long you will be in Chengdu.
Whoa. “solve the problem of finding lodgings everytine I am here, thus save on the high hotel rates.”
Um, kitty, your *goal* seemed to be to SAVE HASSLE and SAVE MONEY. I was simply giving you information to let you know that your decision to buy an apartment was NOT going to solve EITHER of these problems. I never said or even close to implied you could not *AFFORD* to buy an apartment, nor was I looking down on you, but now I am:
Go fuck yourself. Come on over, buy an apartment. When you’re ready to bitch about the hassles and hidden costs, companies and labourers who screw you sideways, don’t do it here.
Jerry: You have to buy under a *Chinese* name 😀 but not a local’s name, for example, you can go to a notorization company and get yourself an ‘official’ legal Chinese name (I’m 瑞克, in hindsight I should have picked a much more amusing name), and the house will be bought under that Chinese name which essentially you have a document saying is linked to your English name, then the other paperwork uses your passport/etc no problem. Locals have other limits, like limitations on apartments under an individual’s name etc. There are other restrictions for foreigners though, some have trouble getting mortgages (often apartment complexes only allow financing directly through specific banks, sometimes banks which don’t provide foreigners mortgage)…lots of fun 🙂
I agree with Rick. You aren’t saving yourself any hassle at all buy purchasing a place here. You’re taking on an incredibly large burden.
Hi,
I just could help to speak out when i saw your post. Actually I am doing the same thing with you- try to buy an aptartment for the future use in Chengdu. After tons of frustration, I almost give up, yes it is “almost” which means now it is not right time to make a deal. I would like to wait for a while to see what happens with Chengdu’s housing market. In my personal experience, buying an aptartment in Chengdu is really NOT easy as I was expectecd. Government set a lots Of restrictions for buyer, which means you need many many document to prove you are aligble to perchase. Also, the price of any decent apt goes ridiculous high, mind you, most apts are not ready to move in when taking over. You need make lots of painful efforts to do decoration that also is costly. I just realize that buying an apt in Chenddu is to put extra burden on me voluntarily. I would like to share my miserable story with you if you like to know.
Good luck!
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