Shanghai property

L

larrymo

Guest
Hi

Quick question. I've been looking around for somewhere to invest in and have come across a company in Ireland called Shanghai Vision. They currently have a new apartment complex (to be completed by 2006) in Shanghai near enough to the financial district for sale. Prices in Dollars at $206K for a 2 bed with studio (approx 1,300 sq ft).

Does anybody know anything of Shanghai Vision (reputation, track record) and has anybody been tempted to take the plunge into real estate in Shanghai. The property price increase over the last 2-3 years amounts to approx 20-25% per year.

Any help would be appreciated....cheers!

Lar
 
if you are interested in an obscure place, the first thing you should do is buy a plane ticket and check it out for yourself.
 
not so obscure

Hi,

im pretty interested in shanghai myself however prices are 20% - 30% overvalued at the moment if you take the yuan into account then this comes down to a more respectable 10% overvalued.

The problem with that sort of property is that locals in shanghai average wage is 1000 per year.

Since this is the case and one can also source apartments for 20k in shanghai id urge you to consider who is going to be renting that apartment ??

Do a search for the kerry group online they build lots in shanghai... under the price range you have listed..
 
Interesting article from Thursdays Prop. section of Irish times.

[broken link removed]
 
seen that myself, but cant find much evidence anywhere else of this. has it been a big crash - what are the percentage decreases in property values??
 
there was a irish guy on ryan tubirdys radio show a few weeks ago who was running a real estate company in shanghai and they were praising him as a brave young irish pioneering entrpreneur etc but the property market there was already in trouble and i emailed the show with details of the price falls etc and they didnt reply or mention my comunication on the show,i suppose they didnt want to ruin a good story with facts etc!
 

What the hell?!?! Is that from a "Special advertising supplement" or something? or is that what passes for "news" these days!? Thats the most crazily fawning article I've ever read! I hope the writter is being paid under the table with a "Once in a lifetime chance to invest in Shanghai"

I've got half a mind to Email Mark Carroll and ask how much he paid for the product placement.
 
Surley that "article" breaks some sort of advertising rules?? It makes claims of property gains that contradict what those other articles say; loses of 10% - 50% versus gains of 20%.
 
That must have been an advertisement?
Even in a rag like the Sindo they couldn't have the neck to call that journalism.
 
hi all,
i've been out to China but not Shanghai.. it's a great country and the people are lovely but
..the wages are low so think who will be able to rent from you if you buy an investment there.I know Shanghai is a big city but still people aren't paid hughely
if you do find somebody to rent you apartment then they will probably live there with 4 or 5 others to pay the rent.
go to China and take a look but try and get somebody to take you to an industrial area where you can see the aprtment blocks there.you will not be impressed.most big companies that employ thousands of people already have their own blocks and rent them ou to the employee's.. so that market is captured.
if you do buy a place then chances are that 100 other people have too and will be trying to rent these out.
the developer,at the moment will be the only person making money here.
buy if you can afford to hold for 5 to 10 years.
apologies for the negativity.
 
Agree with therave if you can affor dot hold for a few years would be a good buy. Obviousdly making sure the development is sound, developer good. China is safe in terms of the properties will be built you are not relying on other peoples money to build them or have the risk of the developers not being able to finish. This is because in China properties cannot be marketed for sale until they are 60% built.
 
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