Real Estate Agents

Real estate agents in Shanghai take 30-100% of your first month's rent as commission. Make sure to negotiate with the agent beforehand. Only some realtors, like Space or Crispin Property Consultants, do sales. A real estate agent must be licensed by the local authorities, so check for their stamped business registration on the wall. The…

The Lease

After the tenant and landlord sign the lease agreement, the landlord is required to register the lease with the local district authorities. This rarely happens, however, because landlords want to avoid the resulting stamp duty of 0.1% of the rent (which, if required, is shared by both tenant and landlord). The municipal officials don't seem…

Main Accommodation Options

Common Accommodation Problems Heating is a major issue for many foreigners. When the bone-chilling Shanghai winter sets in, many recent arrivals discover that the temperatures inside their homes are colder than outdoors. Due to long-standing government regulations, insulation, double-paned windows and central heating are largely unheard of in the city,even in modern new-build apartments. Only…

Other Rental Costs

Be prepared to pay first month's rent, along with a two-month security deposit, upon signing a lease agreement. Tenants also need to pay the agreed-upon real estate commission, unless the tenant found the apartment through other means. Utility expenses should not begin until start of the lease term and Shanghai utilities do not require any…

Buying Property

Buying property in Shanghai, like anywhere else in the world, is a serious, long-term commitment. As the city's economy continues to boom and new apartment complexes stand purchased but empty, government officials are trying their best to cool the market and curb speculation. Regulations constantly change, especially in regards to foreign buyers and sellers. For…

Mortgages

Many Chinese banks offer mortgages to foreign homeowners. Foreigners can borrow up to 70% of the value of a recently built property and around 50% of an older property. Requirements and regulations differ from bank to bank, but most banks need to see proof of income as well as all visa and passport documentation. Most…

Other Purchasing Costs

Property agents usually charge 1% of the cost of the property. Property taxes range from 3-5% depending on the type of property. Construction costs for fitting out a house (any renovations minus furnishings) start from RMB 1,000 per square meter thanks to a cheap labour force.