Author: samlam

How to keep the real estate develop stably [Copy link] 中文

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Post time 2016-4-21 14:04:59 |Display all floors
samlam Post time: 2016-4-21 12:43
Do you have some priorities for people with low income to buy some based houses? How it works?

If you have a piece of land, build your house yourself. This works in countries like Germany where your own labor input becomes cash and constitutes part of the down payment/ Cash on hand. But still in Germany most people rent their houses or apartments all their life.

In previous China usually the families saved up to hand the newlywed couple a house or apartment. So the young generation usually had a paid home from very young on. Today it doesn’t work in many cases since the prices for housing are spiraling up to fast.

A college working with me bought a smaller apartment within the same block where we have ours. For Chinese he earns a quite high salary, saved a bit already and the rest was financed 50/50 through Bank and from his Family.
In total he could down 50% of the price with signing the deal. The remaining 50% will take him 10 years to repay.

I guess the young generation of Chinese should prepare and get used to never being able to buy an apartment. To follow the way big parts of the western world works in this regards. There are many rich investors in China who have ample of housing and they do start to let it out to people by a myriad of ways.

If you can’t down a bulk of money for an apartment, maybe it could be wise to save up and buy underground parking bays one by one as the money is saved. The prices for underground parking have soared already in some places and will surely jump when China follows the Taiwan rule " No Parking lot - no number plate” for your car. There you cannot register a car without proof that you rent or own a parking area.
Twentyfive percent out of nothing is still nothing!

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