Did I pay too much for my apartment in Shanghai??? Ft. Liu4Life

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Whether in the USA or China, is it worth it to buy a house right now?

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Whether in the USA or China, is it worth it to buy a house right now? Thanks @Liu4Life for showing me your place!

maikelaoshi

My husband and I also recently bought a house in Shanghai and remodeled it. It is a challenging process and takes a lot of effort and energy. When I looked back, I actually missed it, the processing of changing the house into what we like and the excitement of moving in. It's an important memory for us. Hope you can move in and enjoy the new house soon!

yaqianzhang

Its very common in many asian countries that our parents help with the mortgages =/ especially for much wealthier families.

SohThirsty

感觉真是入乡随俗了在亚洲生活就会受到大环境的影响人生就应该跟房挂上关系，明显感觉 mike 老师因为房感觉沧桑了很多。老外的那种自信的眼神自由的气息在身上看不到了，现在看到的是眼神里透出的疲惫。因为上海房价太高了压力也很大不过既然喜欢中国这些是必须要经历的

소지-sl

Wow, this guy's apartment is amazing!

kuoliu

Unfortunately, the housing bubble is going to burst- rents are cheap in SH compared to ownership. It's a one-way bet and given Chinese demographics - it downhill from here. But if you are downtown in Jingan etc. the drop won't be too bad.

DD-trdo

I have been in China for a long time now and only bought a property 2 years ago but not in Shanghai where we live. I still feel that we get much better value by renting. Of course if I knew in 2001 what prices would be like today maybe we would have. Anyway, we now have a property in Qidong in a resort where we go spend time off. and been renting same place in Shanghai for almost 10 years

shanghaidiscovery

If you are married and have children, buying an apartment is a wise choice because not only it can protect you from inflation but also it gives your family a comfort place to live and a peace of mind. But if you are single and only from an investment point of view, it's better to invest in real estate that is not that developed yet but have the potential. This way you could have a much better ROE over time. In my opinion, 10 years from now the increase rate in Chinese property price would definitely not as good as the past 10 years. It took you only 4 years in the past to double your investment but now the price has reached 10k rmb/square meter it might take you 7-8 years to double. Once the price reaches to a certain level, it's gonna slow down.

estherfromasia

And how long is your home’s lease-ship is??? 70 years???
It’s just glorified renting NOT home ownership if you don’t also own the land it sits on.

wannaberedneckprepper

Hi Mike enjoying watching your videos which resonate with me so much. Back story I came to China in 2000 to teach. I met my Chinese wife and we married in 2001. Fast forward we have two amazing children and my eldest is studying at Bath Uni. We bought our first property in Shanghai 2006. At that time it was an absolute min-field that I had to navigate. My parents in law helped us with a decoration company and I spent many an hour on Pinterest and other sites getting ideas of how I wanted it to look. It was a very stressful situation. Strangely we have never once lived in our apartment and we have had the same tenant renting it. Move forward to now and we are heading back to Shanghai in July to start renovations on our apartment. I never regret buying here as apposed to the Uk as our apartment value has sky rocketed. Would be good to catch up and have a few beers and share some stories.

alifeofimages

美国买房贷款的都要做房产价格评估appraisal的它只能给你做估价的% 不是你售价的%

landyli

How does it work in China? Is the house you buy truly ever yours or can the gov take it at any time? I know the banks that give the mortgage are gov owned so Id love to know how youre protected!

erchanel

I don’t think your house price is too pricy considering in 10 to 20 years time.

gliu

I wouldn’t treat your primary house as an investment. There are so many intangible value goes into it. Hopefully when you do have to sell it and it’s years later usually the price wouldn’t be down in a long term market. Real estate market is going crazy mainly because ppl are worried about inflation. Having cash sitting in the bank is not smart money management so have to put it somewhere either stock or house. US real estate market is insane right now too, with inflation and low interest rate the housing market is expected to be hot!! Anyway I am sure after renovation you will enjoy your house!! Ur friend is right!! Hang there!!!

azngurlrulz