Cost of properties in Guangzhou

Cost of properties in Guangzhou
Feb 20, 2008 08:33
guest18783	Hi, my wife-to-be is a Chinese citizen. Once we are married i want to buy a house in Guangzhou for us to run as a bed&breakfast and also i plan to open a Graphic Design business(i am a Graphic Design graduate). I would like to know how much such premises would cost in Chinese yuan. I am also aware that under chinese law i will not own the land. Any advice gratefully appreciated. Thanks in advance.

Feb 20, 2008 08:33

guest18783

Hi,
my wife-to-be is a Chinese citizen. Once we are married i want to buy a house in Guangzhou for us to run as a bed&breakfast and also i plan to open a Graphic Design business(i am a Graphic Design graduate). I would like to know how much such premises would cost in Chinese yuan. I am also aware that under chinese law i will not own the land.

Any advice gratefully appreciated. Thanks in advance.

Feb 20, 2008 23:54

TOMSPENCER
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Join Date: Feb 8, 2005
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The average price of new properties in Guangzhou has risen to more than 6,000 RMB per sq m, with properties in Tianhe, Haizhu and Yuexiu seeing the fastest increases. By the end of 2007 the average price per square metre in Tianhe had passed 20,000 RMB.

It's worth mentioning that if you're planning on buying property for commercial purposes, then it would be easiest to do this in your wife's name.

Feb 22, 2008 01:02	#2
GUEST18783	Is that the overall cost of a property? if not, can someone please give me the pverall price of a family sized property in Guangzhou as i am not familiar to the chinese ways of buying properties in square metres. Thanks in a advance

Feb 24, 2008 20:33

TOMSPENCER
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Join Date: Feb 8, 2005
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It can be difficult to define the size of a 'family-sized' property. I had a Japanese client who had a very sizeable budget but who was interested only properties up to 200 sq m (c. 2,150 sq ft). Conversely I've had American families come through who wouldn't consider anything under 400 sq m (c. 4,305 sq ft) to be 'family-sized'.

You'll be hard pushed to find even second hand properties in the down town area for under RMB 1,000,000, and if you're looking for something fairly roomy, then your budget should be in the 4 to 8 million yuan range.

Much better prices are available in the southern suburbs of Panyu, and in some areas of Baiyun (the northern district of the city).

Mar 23, 2008 00:52

BARONTWANGLE
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Join Date: Nov 7, 2007
Status: Offline

Guest 18783. I am interested to know who your planned clients will be for your bed and breakfast? For sure, foreigners won't be able to stay there legally - check out the Chinese law.

For a decent sized 3 bed apt in the city centre, you are looking at around 3 million Yuan. However, unless you have been living in China for over 12 months, you are not allowed to buy property. Also, if you plan on starting your own Graphic Design business, you will have to invest a minimum of 5 million $US! Sorry, but that's the rule for foreigners starting their own business in China. There are of course ways around this, but they aren't standard, as each individual has different options. If you are determined enough, then hopefully you'll make some progress, but be prepared for lots of headaches and frustration along the way.

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