Hi all,
I've been in Shenzhen for the past 2 years, watching all of the insane real estate prices (I'm in Nanshan/南山) continue to go up. I'm considering getting an apartment in China, but most likely would not get it in Shenzhen.
Was curious as a foreigner that resides in Shenzhen about Kunming's current real estate situation and future prospects?
Would love to hear anyone's thoughts on the city and its real estate market. Feel free to add my WeChat if you could chat about this with me directly. 微信: BLACKTHORNE
Thanks!
Kunming's real estate market has been relatively slow in recent years. Even apartments above shopping centers w/ subway (KRT) stations have risen in moderation to average prices of only ~1.2 - 1.3万 from 期房 prices of 8K a few years back. The landmark Shuncheng Shopping Center (@五一路 station - eventual double KRT line) apartments can be purchased for 2 to 3万, having crawled up from 1.6万 eight years prior.
In contrast, I bought two earlier this year. One lake/mountain view hotel flat in Dali, Yunnan. High-speed rail will connect KM to Dali in Q1 2018. Another ocean/forest/space launch view apartment in Wenchang, Hainan. Both doubled in value to ~2.6万 in just 9 months.
Will be eyeing a purchase in Shangri-La City in Yunnan early next year as high-speed rail is set to connect from Lijiang by 2020. Only 4-6K for grassland/mountain view apartments. Still relatively untapped housing market.
@bilingualexpat: You're speculating, right?
@lemon lover
only anonymously ;)
@Alien
Braving developer sales offices and wasting countless hours chatting away with their army of savvy sales agents en route to my second prospective house buy in KM, so curious onlookers like Baroquian can get the quick facts without the time consuming journeys, arduously putting up with opportunists at every turn.
I'd like to think if I was interested in the Shenzhen area, friendly community forumers there would assist me in kind.
That said, housing prices change on a monthly basis. In this cyber age of misinformation, always fact-check. Best to conduct on site due diligence in person rather than adhere to hearsay.
Kunming is dirt cheap compared to most capital cities in China. Even a second rate capital like Jinan is over 25k /square meter these days. In Kunming you can still get flats in older buildings in the first ring road near a subway stop for 8k. I don't know if it would be a good investment, but if you're planning to live in Kunming and have some money, then why not.
I would avoid buying in Dali. You can find equally nice properties in rural Yunnan for a fraction of the price. In recent years Old Town area has become very noisy and congested. The infrastructure is inadequate, and the local government seems too inept to do anything about it. Environmental degradation is becoming pretty noticeable too. Not worth 26k per square meter, even in the magical land of Dali Vista.
Xianggelila could be an interesting place to invest, but it's not very convenient. It seems to be cold pretty much all year round and in winter you'll freeze your arse off because there's no heat (except wood burning stoves). Last time I checked, there wasn't much property in Xianggelila that you could legally own either (no red book).
@AC
We have an agreement on KM being relatively cheaper. But to OP's original question regarding its housing prices in the future... well, that remains to be seen.
I would however caution in investments in rural Yunnan. The lack of provincial government infrastructural spending there would impede growth.
Regarding Dali, the old town in the west and south are still pretty cheap. The future is in the east where the city government will be moved to. No, not Dali Vista.
Good points on the geographic of Shangri-La. You may not be updated on recent properties in development though. No "red books" (房产证) in the old towns (古城), same as in Dali and Lijiang, nor any other state protected old towns in most Chinese cities.
Regarding Dali, the old town in the west and south are still pretty cheap. The future is in the east where the city government will be moved to
wot, like chenggong was for kunming future????
If all government departments of Wuhua, Panlong, Guandu, Xishan, etc.. moved to Chenggong, perhaps it would be be the future of Kunming.
At least Kunming was willing to free up some farmland for development. In Dali they're basically carving their "Chenggong" into the side of a cliff.
