Chinese Lives

House price in China’s big cities become incredibly out of reach. Below shows average property price in London and Shanghai in 2007. Bear in mind, average capable buyers in Shanghai bring in home merely 1/6 of UK families, taking into account of currency exchange rate, and China is still a developing country.

BBC report on London house price.

Average Cost: £377,807 Detached: £769,519 Semi-detached: £423,889 Terraced: £403,502 Flat: £310,127

Change in last quarter: 6.6% Change in last year: 14.1% Sales: 40,120

Shanghai property price (statistics in November 2007)

per squre meter: 10742 Yuan =716 English Pounds.

two bedroom standard flat: 10742 X 120=1,289,040 Yuan =85,936 English Pounds.

No accurate figures about quantities of successful house deals, however, real estate business is booming there as one of the economic power industries. Buy a house in Shanghai.