Housing
Fueled by low interest government loans, property development has become one of the largest industries in China. Until just a few months ago (late 2011), speculators were able to purchase many homes/apartments and resell them to the public at inflated prices. This caused the housing sector to become red hot, resulting in giant housing developments being constructed in competetion with each other, driven by the inflated prices the market speculators had been willing to pay. With the new government ruling that one family can purchase only one home every two years, the speculators were taken out of business. This resulted in a collapse in housing prices not only from the removal of speculator driven high prices, but also due to the massive overbuilding that chased the inflated market. Most of the new construction of housing was targeted towards the affluent buyer. Look at the result.
A mix of low and high rise housing in the south side of the New Development Corridor. These are all apartment buildings of very high quality, matching or exceeding U.S. and EU standards.
A good example are these classic styled apartments along the waterfront. Over the top on design and finishes. A new 350 square meter (3800 sf) furnished luxorious apartment is available for about $5000 U.S per month.
This is the entrance to another housing development. Amazing luxury throughout. Italian style.
We looked at a townhouse here. Over 300 square meters, luxury furnished. New.
Four storys with parquet and marble floors, and an elevator. Fully furnished. $3000 U.S. per month.
This is an alternative to the low rise homes/apartments. This 24 story high rise luxury serviced apartment building is called the Shama Luxe.
Sidewalk view of the building front.
We elected to rent this two bedroom apartment at the Shama Luxe for our stay. On the 13th floor with glass window walls all around. 12 foot ceilings. Total size 2100 sf. All new and top quality fittings and furniture. Room price included free breakfast and daily maid service.
View from our living room and both bedrooms.
Same view at night.
The lounge room connects with the gym and swimming pool. This is where breakfast is served.
We liked the Shama because it was in a great location within easy walking distance of maybe twenty excellent restaurants.
Dinners out were always a great experience. Not always as luxurious as this banquet put on by our Chinese contractor for our team. Great fun with wonderful people.