Shanghai rental rates for expats ranked 8th in world, Beijing 11th

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The average rental rate for a three-bedroom in an expatriate community in Shanghai is US$4,000 per month according to a recent survey by ECA International. Shanghai rental rents rose five percent from the previous year, while the rental rate for a similar apartment in Beijing dropped six percent from 2005 to an average price of US$3,840, for a rank of 11th.

This from the Shanghai Daily:

Even though rental rates in Beijing and Shanghai are among the highest in the world, they are cheaper now compared to 10 years ago. The average rental of a three-bedroom apartment is about 50 percent cheaper in Beijing compared to 10 years ago while in Shanghai it is 40 percent less.

“Ten years ago prices in Beijing and Shanghai were artificially inflated due to a severe lack of quality supply, restrictions on property ownership and where foreigners could reside,” said Lee Quane, general manager of ECA International Hong Kong. “Today, however, foreigners are allowed to live wherever they like and more and more high-end properties are being built.”

The top ten most expensive cities to rent a 3-bedroom apartment (in an expatriate community):

  1. Hong Kong  – 8,592
  2. Tokyo – 7,358
  3. New York – 7,249
  4. Moscow – 6,526
  5. Seoul – 6,214
  6. London – 5,901
  7. Mumbai – 4,933
  8. Shanghai – 4,000
  9. Caracas – 3,974
  10. Paris – 3,869

2 thoughts on “Shanghai rental rates for expats ranked 8th in world, Beijing 11th

    Mi Fu says:

    If someone spends 4000$ (US$, not RMB??!!) for an apartment, he or she needs a crash course in financial controlling.

    My Shanghai apartment was in a middle class Chinese community in Chang Ning near Xin Hua Lu. It cos RMB5600 per month and was the best apartment I have ever rented. I agree with Mi Fu. Its crazy to spend so much on renting in an expat community – besides – what beter way to get to know the Chinese than to live with them. They are cool on the whole.

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