Moving to Chengdu

[jerryburns]

I will retire Chengdu this summer and need to find a modern hi-rise apartment. I would like it to be 3 BR 2B around 120 sq meters. I am an American and am married to a Chinese citizen. I am willing to sign a 12 month lease. My ultimate goal is to buy and apartment but want to rent at first. Any help would be appreciated

Jerry

[Prodigal Son]

apartments that you describe run about 6,000-7,000yuan/sq meter in Chengdu and the prices are continuing to rise. it might be difficult to rent a place first and then buy later, as buildings are going up constantly which are filled with sold out units before the construction is even completed. since you didn't really ask any specific questions I don't know what kind of advise you're looking for, but you should consult a real estate company that deals with foreigners like www.maxelli.com which is located in Chengdu.

[jerryburns]

Fortunately I am married to a Chinese citizen and she qualifies to have a morgage after 30% down. Foriegners have to pay cash as I understand it. It sounds like Chengdu is like the rest of China with prices going up. Even at 7000 that pretty good compared to what a house cost in the US

[jerryburns]

Advice to other foriegners who want to buy in China.. After over 20 years of living and working in China, (Mostly Guangzhou and Nanning) I have learned that the price go's up once they learn you are an American. A good Chinese friend can be a big help in renting and other big purchases

[Prodigal Son]

It sounds like Chengdu is like the rest of China with prices going up. Even at 7000 that pretty good compared to what a house cost in the US

Chengdu is particularly expensive, from what I understand. More expensive than Chongqing, Xian, Wuhan, etc. IMO it is a better place to live, though.

Also I don't think that 7000/sq meter in Chengdu is a great deal compared to buying a house in the states. Prices are dropping fast in the states - but more importantly, you actually own land there, which is where the real value is, assuming you're within 50 miles of a large city. Most apartments in China, even the upscale ones, are built to cheap, sub-standard specifications. My girlfriend bought an apartment in Chengdu last summer and construction just finished - the quality of the building does not meet the expectations of the buyers and they're seeking action against the construction company for compensation. If I were to spend a lot of time in China I'd rather rent for 20 years than buy property.