China is becoming more and more attractive to young foreigners looking to have an international work experience. Not only it is harder to find a job in their home country due to the economic crisis that have hit most developed countries in the past 5 years, but also China's economic growth is offering a lot of work opportunities for foreigners.
Statistics regarding the number of expatriates living in Shanghai range from 600,000 to 1 million people in 2017. As one can expect, the largest cities, Shanghai, Beijing and Guangzhou gather 90% of this population.
In this post we will see what real estate options young expats have when settling in Shanghai. We will rank the different types by price/budget, from the most affordable to the least.
1. Low budget: 3000 to 6000 yuan
First, consider a minimum budget of 3000 yuan if you want to live in downtown Shanghai, which means in one of the following district: Huangpu, Jing'an, Xuhui, Changning or the center of Pudong.With a 3000 yuan (about 400$) budget, you can get a nice bedroom in a shared apartment. Most apartments are fully furnished so you just need to add the monthly bills (from 100 to 300 yuan).
Starting from 4500 yuan, you can have your own studio or small apartment. At this price, it will most likely be in a old building or a lane, but if you want a studio in modern building, you will need to spend at least 5000 or 6000 yuan.
2. Middle-range budget: 6000 to 15,000 yuan
In many parts of downtown Shanghai, you can easily find a one-bedroom apartment for 7000 or 8000 yuan, usually in old buildings without facilities. For apartments in the most central areas of Shanghai such as Jing’an or the French Concession, the price can be much higher, up to 15,000 yuan in luxury compounds with swimming pool and other facilities. Lane houses, which are some kind of typical housing in the Former French Concession, usually start from 10,000-12,000 yuan. A lot of young couple choose this option because it offers a more unique experience than modern buildings.
2. High budget: 15,000 to 25,000 yuan
For those who can afford, Shanghai has plenty of luxury apartments in top-level compounds, as well as serviced apartments and villas. Most of these compounds have facilities including gym, swimming pool, tennis court, spa and so on. Some of them offer a housekeeping service much like in an hotel.
About the Author:
Ambassador Relocation is real estate agency established in Shanghai since 2005. The company relocates more than 1000 foreign clients every year and manages a database of 10,000+ properties.
Here is a list of useful blogs for expats living in Shanghai:
Are you looking for a place in Shanghai or do you have a story to share about your experience in Shanghai? Feel free to add a comment below!
