Real Estate in Beijing
Last updated on Nov 03, 2024
Summary: The most desirable neighborhoods in Beijing, China are Sanlitun, Chaoyang, Dongcheng, and Haidian. The average cost to buy a nice 2 bedroom home in Beijing is around $400,000 USD, while a nice 3 bedroom home can cost around $600,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and high-speed internet. Foreigners are allowed to purchase properties in Beijing, but there are restrictions on the size and type of property that can be purchased. For example, foreigners are not allowed to purchase properties larger than 144 square meters. When searching for a home to buy in Beijing, expats should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local real estate market and consult with a real estate agent to ensure that the property is in good condition and meets all legal requirements.
How do I find a place to live in Beijing?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Beijing can be a challenging task. It is recommended to start researching in advance, as rental properties tend to be filled quickly, so it's important to start looking early. Another important factor for finding a home in Beijing is to have a good understanding of the local housing market. It will be helpful to hire a real estate agent who can provide useful information and help you to find ideal properties that fit your specific requirements. Additionally, you can use online resources to facilitate your search, such as expat forums or websites including listings of available properties. Furthermore, you can explore real estate websites and apps to find appropriate living spaces, such as furnished studio apartments near the city center, lofts near tourist areas, or 3-bedroom homes in residential districts. It is helpful to physically visit the area you are interested in and be familiar with the local landscape and cost of living. Finally, it is important to make sure you understand the local laws so you can be aware of what is expected when renting a property in Beijing," explained one expat living in Beijing, China, China.
"I used a service called Ihouse. I did lots of research online for expat housing and knew what I wanted. I wanted a real bathroom with a toilet and shower stall and an apartment with lots of closets. I also wanted something close to a subway station. I live near jianguomen and the 2nd ring road," said one person in Beijing.
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What is a typical expat home or apartment like in Beijing?
"Expat homes and apartments in Beijing are generally spaciously designed and comfortably appointed. Most feature bright modern interiors with minimalist-style furnishings, and often include balconies or terraces with views of the city. Many larger expat homes and apartments come fully-furnished and are equipped with modern amenities, such as air-conditioning, WiFi, and washing machines. Security is often offered in the form of 24-hour guards, gated access and CCTV. Expats in Beijing also commonly seek out international communities offering villas and serviced apartments with shared leisure and recreational facilities such as swimming pools, gyms and playgrounds," explained one expat living in Beijing, China, China.
"I live in a high rise apartment / hotel. Yes, to begin with most live in some sort of service apartment or they share a big apartment with several rooms. I prefer to live alone. My apartment is serviced which is nice because they help me care for my cat when I'm away. I've heard you can hire an aiyi and they can teach you to cook," said one person in Beijing.
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What is the average cost of housing in Beijing?
If you are thinking about moving to Beijing, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The costs are much higher. I pay nearly double what I paid at home. You can find okay housing from 7500 to good housing around 20-25000 Rmb," said one person in Beijing.
"The average cost of housing in Beijing is generally high, as it is one of the most expensive cities to live in. Property prices have increased steadily in recent years, due to increased demand and higher costs of land and materials. Renting an apartment in Beijing can be costly, typically running upwards of around 4,000 yuan per month for a basic one-bedroom apartment. High end properties can cost significantly more," remarked one foreigner who made the move to Beijing, China.
Should I buy or rent a home in Beijing?
If you have not spent a lot of time in Beijing, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When deciding whether to buy or rent a home in Beijing, there are several factors to consider. Firstly, one must consider the cost of purchasing versus renting. Buying a home requires a large sum of money up-front, usually in the form of a down payment, along with ongoing expenses such as closing costs, mortgage payments, repairs, and so on. Rental fees, on the other hand, are generally much more affordable, allowing for more flexibility in beween-lease spending. Secondly, lifestyle factors must also be taken into account. If your plans include living in the city for a long period of time, the security and personalization of owning a home may be more appealing than the short-term nature of renting. Similarly, if you prefer to move often, renting a home might be the more sensible choice. Ultimately, understanding your own unique lifestyle and financial needs will determine which option is most appropriate in your particular circumstance," explained one person living in Beijing, China, China.
What do I need to know when buying property in Beijing?
When we asked expats what advice they would give a foreigner before buying a property in Beijing, they said:
"Before purchasing a property in Beijing, it is important to understand the local legal and regulatory frameworks. It is also important to understand the type of property you wish to purchase, such as whether it is residential or commercial. It is also important to understand the location of the property and its suitability for your needs. It is also important to engage a lawyer who can provide legal advice and assistance with the signing of documents and other transactions related to purchasing property. In addition, it is important to obtain an appraisal from a qualified professional to determine the current market value of the property. Finally, it is important to be aware of any local taxes or fees associated with owning a property in Beijing," said one in Beijing.
Are foreigners allowed to own property in Beijing?
When we asked expats what advice they would give a foreigner before buying a property in Beijing, they said...
"Yes, foreigners are allowed to own property in Beijing. According to the Chinese government, foreign citizens, foreign companies, and foreign investors are all allowed to purchase real estate in Beijing. However, there are certain restrictions in place. For example, foreign citizens are only allowed to purchase one residential property in Beijing, and foreign companies are only allowed to purchase one commercial property. Additionally, foreign investors are only allowed to purchase property in certain designated areas," wrote one expat who made the move to Beijing.
What appliances are typically included in a rental?
We asked foreigners in Beijing what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Most rental homes in Beijing typically come with a washing machine and refrigerator for basic living needs. Some rentals may include an oven, microwave, dishwasher, and other kitchen appliances. Home heating and air conditioning systems are also common in many rental properties. In addition, some homes may even offer an in-room water dispenser for hot and cold water," said one foreigner living in Beijing, China.
Additional Information about Searching for a Home in Beijing:
We asked foreigners in Beijing what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats in Beijing can search for homes by using online real estate websites, such as Beike, Lianjia, and Anjuke, which offer a wide range of listings. Additionally, expats can contact local real estate agents who specialize in helping foreigners find homes in Beijing. Expats can also search for homes by attending open houses or by networking with other expats who may have knowledge of available properties," said one expat in Beijing.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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