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Is your flat OVERPRICED?

Re: Is your flat OVERPRICED?

Postby Trax_3 » Mon Jul 09, 2012 11:34 am

OU812 wrote:Westgate Garden @ Laoximen. 8000 rmb a month. 2BD, 109m2. 31st floor.

Everywhere I look says 10k+ a month, so I'm assuming it's good.


Sorry dude, but i think Laoximen is over-price ! Too many investors in this area. What i think reasonable is 6k-7.5k max ! I have a frd who used to live there mid-level unit who paid 6.5k (with fapiao) for 2 b/rm unit. But i do know a japanese paying for a super large unit of 3 or 4 bedrooms at about 18k coz he asked for cash back, in actual he paid about 15k.
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Re: Is your flat OVERPRICED?

Postby RonyMikal » Wed Jul 18, 2012 2:15 pm

How can we able to find the value of our house? what are the main factors responsible for increase our flat price.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Wed Jul 18, 2012 5:57 pm

The value of your house/apartment, is actually what you are prepared to pay for it. You need to see many, and you will soon form your own scale. Supply and demand regulates price
I will list my take of issues of importance. 1, being the most important.
The price you are prepared to pay, will roughly follow this list.

1. Your Landlord. Good communication, negotiation, and NOT an absentee.
2. Your agent. This person will solve any ongoing problems, and will work for YOU, not landlord.
3. Location. This is why FFC is just a great place to live, and generally the most expensive in Shanghai, but keep in mind it covers 4 Districts, so there are variations within.
4. The proximaty to a Metro
5. The proximay to shopping, and entertainment.
6. Level of furnishing within the flat. This is low on the list, as can be adjusted in most cases according to your wishes.

Apart from this there is a scale according to building style. !. being most xpensive.
I. the stand alone villa.
2. villa, or town house in a cluster.
3. Serviced apartment in a good compound.
4. Apartment in a compound with Management.
5. Chinese style building with elevator.
6 Chinese style, with no elevator. Will invariably be 7 floor.

Just my take, but you can make an individual list, as everybody has different priorities.
For example if there are kids going to school, that will be near the top of the list.
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Re: Is your flat OVERPRICED?

Postby RonyMikal » Fri Jul 20, 2012 5:08 pm

if there is a matter of money then i think every one have an issue that their flat overpriced as compare to provided facility. :roll: :party::
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Re: Is your flat OVERPRICED?

Postby Adrienne » Sat Jul 21, 2012 11:45 am

MarvinHC wrote:I will move from Europe to Shanghai in autumn and know next to nothing about the property market in Shanghai


Welcome to Shanghai MarvinHC. Our very well informed forum members have already covered your questions on the square meterage and value. You will find oodles of other advice on this thread as well about the next step which is finding an apartment here in Shanghai. As has probably been written countless times, PLEASE do not rely on websites for correct photos of current properties or correct prices. It is really best to wait until around a week before you arrive, contact some well recommended agents who have properties in your budget range and ask them what they have in stock and give them time to find some suitable places that fit your needs and requirements and commit to a couple of days of viewings with them. This time of the year properties go very quickly as there is a high number of new arrivals so timing is essential. If you like one of the properties you see you can put in a non-legally binding offer on it to express interest and put a little bit of a hold on it until you have finished viewing all of them. Please let agents know you are using other agents so you aren't being shown the same place twice. Besides wasting time, the landlord thinks he/she has more interest in the property than the reality and will keep the price higher.

If you need any help at all just PM me or send a mail. If you already have a company assigned agent and need some insight on negotiating with landlords here, please have a look at our Advice on Leasing to help you understand the process.

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Last edited by Adrienne on Sun Dec 02, 2012 12:33 pm, edited 1 time in total.
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Re: Is your flat OVERPRICED?

Postby Damage Sponge » Thu Aug 02, 2012 6:23 pm

Curious about the place I'm currently renting.

Old lane house on Changle Lu by Shaanxi Nan LU
Floor 2/3 about 60 sqm, South Facing
1 Living, 1 Bedroom, 1 Bathroom, 1 Kitchen, 1 large Balcony, however its a weird layout with the bathroom and kitchen of the stairwell. Still paranoid about locking myself out while wearing a bath towel.
Newly painted but renovated maybe 7 years ago, Stains and corrosion on fittings etc...
3/4 furnished with a mix of IKEA and antique local stuff.
Ghetto Stairwell but the lane itself is quite nice.
6k a month
Last edited by Damage Sponge on Thu Aug 02, 2012 8:19 pm, edited 1 time in total.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Thu Aug 02, 2012 7:40 pm

And your question......IS?
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Re: Is your flat OVERPRICED?

Postby Damage Sponge » Thu Aug 02, 2012 8:19 pm

whoops, forgot the price I updated my first post above, So naturally curious as to how much I'm being ripped.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Thu Aug 02, 2012 8:36 pm

Ha, Thought so.
That is a nice location, but you are paying plenty.
Suggest you approach the landlord, and ask for a few new fittings. How long is your contract for?
Much will depend on that. They will usually agree, as are actually adding to the property value. You could even go for an appliance, or stick of furniture.
To not get caught with your pants down, suggest you hide a spare key in your bathroom.
I have a similar situation, in that when I walk out the back door, it is automatically locked.
I have locked my keys in the apartment twice, but with help from a neighbor, a strong magnet, and a pole, managed to get the keys through a barred window.
Never again, have a spare hidden in the lobby.

John.

Edit: I would put your place at no more than 5K, but assuming you do not want the hassle of moving/losing deposit, just looking at alternatives to get you through your contract.
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Re: Is your flat OVERPRICED?

Postby Damage Sponge » Fri Aug 03, 2012 10:18 am

Thanks for the detailed reply Monalisalee

I'm about 2/3rds through the contract so ill stick it out, I like the place and location is great so ill see if i can haggle down to 5k if I decide to renew the contract, If not ill move out. Might be difficult as they'll probably just get in another Shanghai newb willing to pay more.

I actually found an old blog from the previous tenant and he was paying 5k a month, unfortunately this was about 2 weeks after i had signed the lease :[ so looks like you're right on the mark in terms of valuation.
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Re: Is your flat OVERPRICED?

Postby mayuslicer » Fri Aug 03, 2012 10:20 am

Can't really afford one~
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Re: Is your flat OVERPRICED?

Postby leetanya » Wed Aug 08, 2012 7:06 pm

Since today, I think our apt is indeed overpriced. Balcony flooded with rainwater, isolation proved to be sh1t. Ceiling around the kitchen area might be falling down soon.
I wan THAT Bra she's wearing..., WITH or WITHOUT her !!!! ::kiss:: L ::kiss:: R
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Re: Is your flat OVERPRICED?

Postby waterandice263 » Sat Aug 25, 2012 7:43 pm

flat/apartment I would like to rent out, would you shed some lights on how much it is reasonable to ask for. Sihe Garden (1995 property) 3/24, fully furbished with good quality materials, and LCD TV, washing machine, refri, etc. no bath tub but shower. corner of Xinzha & Yanpin, very close to Jinan temple station, line 2/7.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Sat Aug 25, 2012 8:37 pm

Number of bedrooms?
Square metres?

Both very important.
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Re: Is your flat OVERPRICED?

Postby winnieyap » Mon Aug 27, 2012 12:05 pm

Oh yeah..I love this game too. :p
300sqm, 40sqm yard, first floor with duplex 3 level. 4rooms + 3 bathrooms, include one jacuzzi. Bar counter, big dining room,big kitchen and living room. Basement with home cinema with good sound system back up.
How much should be the whole house rent?
I welcome you guys come and visit and tell me your price. :))
Me and my housemates are all friendly guys. We welcome you to organize some house party events or band practice at our place. :)
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Re: Is your flat OVERPRICED?

Postby DianaW » Mon Sep 17, 2012 1:02 pm

As an expat, you may have the feeling that you don't pay the fair price for your rent and that when it comes to negotiating with an agent or a landlord, you are not really at your advantage. Most of the time, you have to rely on “bilingual” agencies and you have no clue about what's going on between the agent and the flat's owner.

With 5 years of experience in the real estate market in Shanghai and an extensive network of contacts among local agents and landlords, I am an independent real estate facilitator. Whatever your housing need is, please contact me. I will prospect the market for you, come up with the most suitable offers and assist you in the negotiation process all along.
When in China, pay as Chinese do....

Email:olsero.china@gmail.com
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Re: Is your flat OVERPRICED?

Postby Juan_Tamad » Mon Sep 17, 2012 1:10 pm

I suggest you wait for another 12 months,,,,,as the bubble is about to burst
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Re: Is your flat OVERPRICED?

Postby disconbobulated » Mon Sep 17, 2012 1:26 pm

My flat is flat for some reason.....
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Re: Is your flat OVERPRICED?

Postby emilia.p » Mon Sep 17, 2012 1:28 pm

300sqm house in Hongqiao Rd, probably more, zoo area.
3 bedrooms, 1 study, 6 bathrooms, 1 extra bedroom in the attic+own bathroom
general a/c, floor heating 1st floor + radiators on the other 2 floors. water purifier for the all house, double glazed windows
garden

37000RMB
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Re: Is your flat OVERPRICED?

Postby monalisalee » Mon Sep 17, 2012 8:20 pm

Actually, that is quite good value for what you are getting!
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Re: Is your flat OVERPRICED?

Postby Adrienne » Mon Sep 17, 2012 10:32 pm

Looks like the villa is at Sasoon or Dynasty as both have attics. If Sasoon then better management and quality of landlord. Dynasty is a bit more local but still good. Make sure you get fapiao, management fee, adsl/sat tv installation AND usage as well as club card in this price.

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Last edited by Adrienne on Sun Dec 02, 2012 12:33 pm, edited 1 time in total.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Tue Sep 18, 2012 1:53 am

So what price?
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Re: Is your flat OVERPRICED?

Postby maximus1 » Tue Sep 18, 2012 6:54 am

DianaW wrote:As an expat, you may have the feeling that you don't pay the fair price for your rent and that when it comes to negotiating with an agent or a landlord, you are not really at your advantage. Most of the time, you have to rely on “bilingual” agencies and you have no clue about what's going on between the agent and the flat's owner.

With 5 years of experience in the real estate market in Shanghai and an extensive network of contacts among local agents and landlords, I am an independent real estate facilitator. Whatever your housing need is, please contact me. I will prospect the market for you, come up with the most suitable offers and assist you in the negotiation process all along.
When in China, pay as Chinese do....

Email:olsero.china@gmail.com


Diana - you can't just join to declare yourself a housing expert - here you'll have to prove it like expat lifestyle, monalisalee and adrienne have (I know expat lifestyle and monalisa disagree on each other's expertise, but either way they both know a lot more than most people about it).

can you recognize properties from a few descriptions? then discuss price ranges and what's fair, and then people will recognize that you know what you're talking about, and therefore someone to consider when they need help. if you just want to post an ad, there's another section for that.
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Re: Is your flat OVERPRICED?

Postby monalisalee » Tue Sep 18, 2012 8:18 am

Well, we are all looking at the rental scene from different perspectives, so that can be a positive thing.
Also the market is changing all the time, and one needs to be constantly involved to keep the finger on the pulse, so to speak.
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Re: Is your flat OVERPRICED?

Postby Verbal Kint » Tue Sep 18, 2012 8:47 am

3 bedrooms and 6 bathrooms, wtf???
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Re: Is your flat OVERPRICED?

Postby JoeMcD » Tue Sep 18, 2012 2:22 pm

Hi All

I suspect we are being ripped off as its the national sport but anyone enlighten me how bad - we are looking to move at end of year regardless

New westgate (no) gardens
Block 18
Lane 688,South Xizang Road
Huangpu District, 200011 Shanghai

4 bathrooms. 3 bedrooms. One massive walk in cupboard
Very large lounge 
No view
Poor finish
Clubhouse still under refurb

We pay 19,000 RMB , it's 288 square metres apparently, never a week without a problem tho to be fair the landlord is quick on repairs 

We also got conned into paying the agent a fee as well as the landlord paying his fee!
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Re: Is your flat OVERPRICED?

Postby monalisalee » Tue Sep 18, 2012 3:48 pm

Hard to say, without seing it. Sounds like i right mess, with poor finish and poor equipment.
For that money. you could do heaps better. Consider moving away from downtown, and getting a place with one bathroom, (or two).
The landlord should have paid the agents fee of 70% of one month rental. Not you.
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Re: Is your flat OVERPRICED?

Postby BenJay » Tue Sep 18, 2012 4:56 pm

monalisalee wrote:Well, we are all looking at the rental scene from different perspectives, so that can be a positive thing.
Also the market is changing all the time, and one needs to be constantly involved to keep the finger on the pulse, so to speak.


Monalisalee,

could you put me in contact with a trusted agent or yourself. We will be looking for an apartment early December.

Sent you a PM, but don't know if you have received it.


Cheers

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Re: Is your flat OVERPRICED?

Postby monalisalee » Tue Sep 18, 2012 6:08 pm

Ben: I will p.m. you, and no, did not get your message.
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Re: Is your flat OVERPRICED?

Postby DeepHouseGuy » Wed Sep 19, 2012 4:35 pm

Verbal Kint wrote:3 bedrooms and 6 bathrooms, wtf???


LOL i noticed this too. wow
Is the glass half full or half empty?
Its based on your perspective quite simply
Were the same and were not know what I'm saying listen
I ain't better than you I just think different
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