Shanghai is the biggest city in China and its financial center The city was able to rise after the opium war and revolution and became one of the most comfortable cities in the world for life and doing business. Real estate in Shanghai is a dynamic market that, with the right investment, will generate high income.
The highlight of Shanghai not in ancient architecture or the unique nature, this city wins the hearts of people the irrepressible energy. It is considered the business heart of China, a huge number of billionaires lives in the megalopolis, luxury hotels, eminent restaurants, and boutiques are located here.
The architecture is also striking. The city’s development project has been underway since the early 1990s. Its main real estate objects are skyscrapers of 20-30 floors, where residential apartments and office premises are located. Real estate in Shanghai in such houses is available to the middle class. Credit programs from local banks are in place to purchase housing. The mortgage is given for 30 years with an annual rate of 5% subject to an initial contribution of 20% of the purchase amount.
The construction of new housing in the city is the speed of light. If just a few years ago the tallest building was a television tower, now more than 100 skyscrapers have almost caught up with it in height. The rapid development of Shanghai ‘s real estate market is influenced by population growth and local business conditions. The city is a promising area for professional activity, it is the perfect investment opportunity. Foreign businessmen invest money in building projects with the aim of obtaining high profits In Shanghai, all economic and bureaucratic processes are structured in such a way as to attract as much investment as possible in the development of local infrastructure. Last year, the real estate market received more than 51.412 billion yuan. This figure is 2% higher than the previous year.
Shanghai has been experiencing stable economic growth for a long time. Demand for real estate is increasing from both the local population and foreign investors. For the latter, optimal conditions have been created in the metropolis for the purchase of facilities.
The prestigious area of the city is Pudong. A square meter of housing here costs $3,200. In other parts of Shanghai, this figure will range from $ 1,200.
Experts predict the reduction of prices in the real estate market on average by 10%. But despite the decline, the cost of residential and commercial properties is still high, sometimes unreasonably.