Reviews of Chinese Real Estate Agencies

China is a modern, economically developed, densely populated country located in East Asia. The country is known for its record-breaking population, approaching 1,500,000,000 inhabitants, developed industrial production, in most areas of which it is a world leader, the highest GDP among all countries in the world, the colossal influence of the local trade sphere on the entire world trade industry, since the People's Republic of China is one of the largest exporters and the largest sales market on the planet. The geographical location of China is extremely advantageous for trade. The country has access to the western seas of the Pacific Ocean, and also borders with a large number of countries: the Russian Federation, the DPRK, Kyrgyzstan, Vietnam, Mongolia, Myanmar, Laos, Bhutan, Nepal, India, Pakistan, Tajikistan, Afghanistan. The country has 22 provinces, 5 autonomous regions, 4 municipalities. The capital of the PRC is Beijing.

Economic Development of China

Over the past thirty-five years, China has experienced an economic and construction boom, which has resulted in the development of a large number of large and medium-sized cities in the country, where a huge number of new areas with developed urban infrastructure have appeared. Developers in China, erecting residential and commercial real estate objects, are tens of thousands of construction companies, both entirely Chinese and with foreign capital. The Chinese real estate market is served by more than 100,000 real estate agencies and individual real estate agents, each of which undergoes mandatory licensing of activities. The state strictly monitors compliance with laws in the field of construction and real estate, so seeking help in buying, selling and renting real estate from professional real estate agencies is considered a guarantee of safety in a real estate transaction.

In recent years, the rate of population growth in China has slowed significantly and has ceased to be a driver of real estate sales. Currently, the most important factor pushing the real estate market is ongoing urbanization, attracting a huge number of people to the economic centers of the country. The total population of China that lives and works in cities other than their birthplace is more than 375 million people, or more than a quarter of the country's total population. This constant flow of people will maintain high demand in the residential property market. In addition to young, skilled professionals moving to work for organizations and businesses in other regions of the country, students, young families, and older couples create significant demand for real estate. This stimulates demand for the work of developers, management companies, and real estate agencies in China. Government support measures have led to the introduction of more than 9,000,000 affordable housing units to the real estate market over the past five years. Of these, only about 10% are new apartments. The income from renting out an apartment in China varies depending on the type of apartment, location, and area, but on average is about 4% per annum.

Chinese Residential Real Estate

Modern Chinese residential real estate consists of approximately 70% of properties built after 2000, so a significant proportion of properties represent current property types that meet the needs of most buyers. New residential complex projects in China are designed for even more demanding people with high expectations from residential real estate, therefore they provide a more comfortable environment with a large number of necessary infrastructure facilities.

Specialists in the field of Chinese real estate draw attention to the possibility of investing in affordable rental housing for the middle class, which demonstrates stable multi-year demand due to ongoing urbanization and high rates of internal migration of the population. The PRC government actively supports construction companies engaged in the construction of affordable rental housing, which reduces the risk of investing in this part of Chinese real estate. An additional motivation for investors is the possibility of a positive social impact and help in solving an important social issue.

Foreigners Buying Chinese Real Estate

It is important to understand that there are some differences between the purchase of real estate by Chinese citizens and foreign citizens. A mandatory requirement for foreigners who plan to purchase Chinese real estate is the requirement to live in China for at least one year on a work or study visa. The purchase of real estate does not give the right to full ownership, but only provides ownership for seventy years with the possibility of extension. The purchase of commercial real estate in China assumes an even shorter period of ownership. The seventy-year period does not begin from the moment of purchase of the real estate, but from the official receipt of the land plot by the developer for construction work. After the said seventy-year period has expired, real estate buyers or their heirs who continue to own the real estate are legally entitled to extend this period for an additional fee, which is currently at least $2.5 per square meter of real estate. A foreign citizen and his family do not have the right to purchase more than one apartment, and do not have the right to commercial use of the apartment or rent it out. When purchasing an apartment in China, foreign citizens should remember that the total living space in Chinese official real estate documents includes not only the living space, but also public areas, which include the stairwell and elevator. To confirm the fact of residence in the PRC for more than a year, a foreign citizen must obtain a certificate from the local public security bureau. A foreign citizen has an additional obligation to certify the purchase and sale agreement with a notary in China. In addition to a passport, a document confirming permanent registration at the place of residence in China, an employment contract, and a bank statement will be required to conclude the agreement. A foreign buyer must sign an official statement in which he or she undertakes not to use the property for commercial purposes or to rent it out. Next, the foreign buyer must submit a written application to the Foreign Affairs Office, which issues a permit to purchase housing. After approval by government agencies, the buyer must pay 30% of the value of the property as a deposit. All payments in China are legally made in the official currency of the country - yuan. After making a deposit, the buyer submits documents to the local property rights office. After that, the buyer pays the seller the remaining part of the cost of the property and after a few weeks receives a certificate of ownership.

Reviews of real estate agencies in China

Our website contains ratings and reviews of real estate agencies in China, left by real estate buyers. Careful study of the reviews will give you the opportunity to form your own opinion about the level of qualification of the employees of real estate agencies and make an informed decision about the possibility of cooperation with one of them.

Development of the construction industry in China

China is a modern, developed, socialist country located in East Asia. It is the second largest country in Asia and the fourth largest in the world after the Russian Federation, Canada and the United States of America. The country is a leader in terms of GDP, population (the number of permanent residents of the People's Republic of China is approaching 1,500,000,000 people), and industrial production. China is one of the world's main exporters of goods and the main importer, meaning it has the largest sales market in the world. The economic well-being of the People's Republic of China is ensured by developed industries, trade, the financial sector, agriculture, tourism, construction and real estate. Colossal economic growth began in China in the early 1980s, accompanied by the release of a large number of workers from agriculture and their transition to industry and trade. Also during this period, the active urbanization of the country began, which was expressed in the rapid construction of new districts in a large number of Chinese cities, a boom in the construction industry, production of building materials, the establishment and active development of tens of thousands of new construction companies, differing in size and specialization. The development of the real estate market was accompanied by the emergence of tens of thousands of Chinese real estate agencies and individual real estate agents helping clients buy, sell and rent residential and commercial real estate, as well as making the real estate market even more civilized.

In China, such industries as mechanical engineering, shipbuilding, aircraft manufacturing, food and light industry, chemical and petrochemical industry, electronic and electrical industry and others are developed. In China, there is a regional financial center and one of the main financial centers of the world - the city of Hong Kong, where the regional headquarters of hundreds of transnational corporations are located, as well as tens of thousands of companies, many of which have foreign capital. Another major city competing with Hong Kong and Beijing for the title of the country's economic and financial capital is Shanghai, where the first stock exchange in mainland China was opened, which is currently one of the world's main financial markets. The large Shanghai Futures Exchange and Shanghai Gold Exchange are also located here. Business tourism is actively developing in China, with hundreds of thousands of business people from all over the world coming to the country every year to resolve business issues. Thousands of corporate events are held in major Chinese cities every year, attracting hundreds of thousands of visitors from Southeast Asia, Europe and North America. The city's most famous venues for holding international business events are the Shanghai International Conference Center, Shanghai World Expo Exhibition and Convention Center, Shanghai New International Expo Center and others. The country is home to hotels from all the world's major hotel chains: The Ritz-Carlton, Kempinski, Hyatt, Four Seasons, InterContinental, Marriott and many others. In China, special attention is paid to the fields of education and science. The country accounts for approximately a quarter of all global investment in research and development. A quarter of the world's leading scientific and technological clusters are located in the People's Republic of China. The main ones include Shenzhen-Hong Kong-Guangzhou, Shanghai-Songzhou, Beijing and Nanjing. Beijing is home to two of China's main universities: one of the oldest and largest universities in the country - Peking University, founded in 1898, and Tsinghua University, founded in 1911. The most important higher education institutions in Shanghai are Shanghai Jiaotong University, Fudan University, Tongji University, East China Normal University, East China Polytechnic University. Hong Kong is home to the prestigious University of Hong Kong, the Chinese University of Hong Kong, and the Hong Kong University of Science and Technology.

Real Estate in China

Real estate in the People's Republic of China is represented by all types of residential and commercial properties, which are built annually by tens of thousands of Chinese construction companies, which are trying to meet the increasing demand for new, modern, high-quality real estate from Chinese citizens, as well as state and commercial companies. In total, more than 100,000 developers and more than 100,000 real estate agencies in China are constantly working in the country.

All companies operating in the real estate sector undergo strict government inspection and licensing. The state is interested not only in the active growth of the construction sector, but also in the quality of the housing being built, as well as the quality of services provided by real estate agencies, therefore, contacting both developers directly and real estate agencies when searching for a suitable property is considered safe.

Real Estate Agencies in China

The professional activities of real estate agencies lead to increased trust between parties in the real estate market, a decrease in the number of fraudulent actions, and the attraction of domestic and foreign investors in real estate, which ensures the growth of the construction industry. The real estate market is extremely important for the economy, so the state takes various economic measures to stimulate it. The most important measures used include reducing the interest rate on existing mortgages, implementing a program for the development of vacant land, reconstructing unfinished new housing, and regular programs for the renovation of urban-type settlements. The Chinese government is actively developing the tourism industry, which has an impact on the residential and commercial real estate sector. In 2024, more favorable visa conditions for tourists from many countries of the world were implemented on the Chinese mainland, convenient payment systems were provided, and Wi-Fi coverage was implemented in many tourist locations. As a result, the number of tourists on the Chinese mainland increased to 8.2 million in the third quarter of 2024, which is almost 50% higher than the third quarter of 2023. The increase in the number of tourists arriving in the country has a positive impact not only on the short-term rental business, but also on the trade industry.

China Property Prices

The cost of real estate in different cities in China varies significantly. The provinces and cities of the northwest of the country are more suitable for people who plan to find budget real estate. The southeast of the country has always been distinguished by high real estate prices. In addition to the location, the cost of real estate will depend on its area, type of property, layout and specific location in the city (real estate in the central part of the city and prestigious, business areas will cost significantly more).

• Beijing, the cost of a square meter of residential real estate in the capital of China is about $10,500;
• Shanghai, the approximate cost of a square meter of real estate in the most populous city in the world is about $8,500;
• Guangzhou, the third most populous city in China, can offer residential real estate for about $6,500;
• Tianjin, in the economic and cultural center of northeastern China, you can buy one square meter of real estate for $2,800;
• Heihe, real estate in the city bordering the Russian Federation, costs an average of $750 per square meter.

China has a huge supply of commercial real estate. By 2027, more than 20 million square meters of new office space will be built. At the same time, approximately 4 million square meters of new office real estate will be built in the four largest Chinese cities alone. Shenzhen is scheduled to deliver more than 2.85 million square meters of office space by the end of 2026, with Nanshan District accounting for more than 44% of this space. In 2024, the area of ​​Shenzhen's major shopping malls exceeded 7 million square meters.

Developers are planning to deliver more than 1 million square meters of new commercial space in Guangzhou. Most of it will be built in Pazhou and International Financial City. The area of ​​shopping malls scheduled for delivery in Guangzhou in 2025 is approaching 740,000 square meters. Most of them are located in emerging locations. Most of the tenants are from the food service and retail industries. Retail, hotel and affordable housing for long-term rental attract the greatest interest from investors in commercial real estate in Guangzhou.

Commercial Real Estate Price Dynamics in Different Cities in China in 2024:

• The four largest cities in China report an average decline in new commercial real estate prices of 4.2% and an average decline in old commercial real estate prices of 8.8%;
• In Beijing, new commercial real estate prices fell by 3% and an average decline in old commercial real estate prices of 7%;
• In Guangzhou, new commercial real estate prices fell by 10% and an average decline in old commercial real estate prices of 12.5%;
• In Shanghai, new commercial real estate prices increased by 4.5% and an average decline in old commercial real estate prices of 5.5%;
• In Shenzhen, new commercial real estate prices fell by 8% and an average decline in old commercial real estate prices of 10%;
• In medium-sized Chinese cities, new commercial real estate prices fell by 5% and an average decline in old commercial real estate prices of 8%.

Reviews of Chinese real estate agencies

Our website contains ratings and reviews of Chinese real estate agencies left by real estate buyers. Reading the reviews will give you the opportunity to form your own opinion about the level of qualification of the real estate agency employees and make an informed decision about the possibility of cooperation with one of them.