How Much Does an Apartment Cost in Different Cities in China?

How Much Does an Apartment Cost in Different Cities in China?
May 26, 2016 Translated by eChinacities.com

Editor’s Note: How much does it cost to purchase an apartment in Beijing? In Xi’an? In Kunming? With rising rent and purchase prices, housing has become a hot topic in China. This author breaks down the cost of apartments in different Chinese cities with a handy chart.

In “Ode to Joy,” a hit Chinese drama, three female characters share an apartment in Shanghai. The show is supposed to be fairly realistic. The three character’s apartment is not tiny, but it is not unrealistically large either. Many say that Shanghai apartments are more expensive than those in Beijing. How much does it cost to buy an apartment in Beijing or Shanghai? What will 1 million RMB get you in different cities in China? 

What will 1 million RMB get you in different cities in China?
Price per square meter Housing area
<7000 RMB/㎡  
Shenyang 149㎡
Changchun 163㎡
Urumqi  
Hohhot  
Yinchuan 229㎡
xi'an  
Chongqing 149㎡
Changsha 163㎡
Guiyang 229㎡
Nanning 163㎡
7000-10000 RMB/㎡  
Harbin 128㎡
Jinan  
Wuxi  
Hefei  
Wuhan 107㎡
Shijiazhuang 128㎡
Zhengzhou 107㎡
Taiyuan  
Lanzhou  
10000-15000 RMB/㎡  
Tianjin 69㎡
Qingdao  
Ningbo  
Dalian  
Chengdu 95㎡
15000-30000 RMB/㎡  
Suzhou  
Nanjing 57㎡
Hangzhou 43㎡
Fuzhou  
Xiamen  
Guangzhou  
Sanya  
>30000 RMB/㎡  
Beijing 23㎡
Shanghai 25㎡
Shenzhen  

 

1 Million RMB in Beijing

For 1 million RMB in Beijing, you may be able to purchase a 20 square meter apartment. You cannot purchase a large apartment or home. Many feel that prices have skyrocketed in Beijing.

Which cities can you live more comfortably today for 1 million RMB? We’ve collected data to give you the big picture. House prices are higher in first-tier cities and on the east coast, while prices are lower in central and western inland cities.

The Most Expensive Cities

Beijing, Shanghai, and Shenzhen are the three most expensive cities to purchase an apartment in. Cities like Hangzhou, Guangzhou, and Xiamen are catching up at more than 20,000 RMB per square meter. However, in many provincial cities, prices are less than 7,000 RMB per square meter.

A large number of residents who lease apartments in Beijing and Shanghai are not Beijing and Shanghai residents (80% and 84% respectively). Renters come from Hebei, Shandong, and Heilongjiang in Beijing, and Anhui, Jiangsu, and Hubei in Shanghai.

The cost of a down payment on an apartment in a first-tier city may be the same as the cost of an entire house back in many Chinese people’s hometown.

Considering Your Options

Beijing is the core of China’s northern region, but housing prices on the edges of the city are lower—far below the average price for home in the city center. You could purchase a large home on the periphery of Beijing with a 1 million RMB down payment.

In Shanghai, the area on the edge of the city and nearby cities like Nanjing and Hangzhou are also very popular, but are cheaper than central Shanghai.

Faced with the realities of the market, it is important to consider your choices carefully when purchasing a home or apartment in China.

Source: QQ News 

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Keywords: apartment price in China apartment cost in China

11 Comments

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1

greatpark2016
comment|72203|1621482

that's not create any useful source

Jul 13, 2016 11:36 Report Abuse

2

Guest2571212
comment|71442|285690

Wow, was not aware of that.

Jun 03, 2016 22:41 Report Abuse

3

Guest14687032
comment|71345|1631892

With the slowing of the Chinese economy, the price of an apartment will surely decrease within the next year...

Jun 01, 2016 18:04 Report Abuse

4

Guest2301262
comment|71340|294488

Let's see how much these concrete boxes cost when the glaciers originating from QingHai plateau, feeding the Yellow River and ChangJiang runs dry in a matter of decades, with 2+ billion "human beings" fighting for water and food.

Jun 01, 2016 16:43 Report Abuse

5

Guest122976
comment|71231|13664

and are these apartments in the city centre? Living in the centre of even a lower level city is vastly different to living in the burbs

May 27, 2016 22:52 Report Abuse

6

Guest388182
comment|71224|43131

how much for furniture that doesn't fall apart in a gentle breeze...

May 27, 2016 13:58 Report Abuse

7

RandomGuy
comment|71223|1589639

It costs way more than it should to live in this hellhole, also the quality sucks.

May 27, 2016 11:15 Report Abuse

8

Guest388182
comment|71208|43131

Ain't never seen no "apartment" like the one in the photo provided. How many square meters is that!

May 26, 2016 18:09 Report Abuse

9

RandomGuy
comment|71222|1589639

Not for rent or sale, 'demo apartments' for photos only, all the photos online are fake anyway.

May 27, 2016 11:03 Report Abuse

10

royceH
comment|71205|27883

Unsustainable madness. Thirty years salary for a dog-box in a hell-hole. And it could all be gone in the blink of an eye. Like it could just collapse due to shoddy workmanship (not unlikely) or someone higher up in the pecking order who goes by the name of Comrade decides they want it (quite possible). Or the term of the lease expires, be it 30, 50 or 70 years (certain). Little wonder their heads spin when they realize they can buy buy the ground in a country such as Australia and thereby slip their ill-gotten gains away from prying eyes if and when they start to open.

May 26, 2016 13:48 Report Abuse

11

Guest388182
comment|71209|43131

a 30 year lease is fine; anyone should be dead from the air pollution before then, if they don't contract some deadly disease from the crap in the streets

May 26, 2016 18:14 Report Abuse