Relocating to China: Latest Market Update
Posted by: Ryan Hull, Strategic Business Solutions Director, China
Keeping up to date with the latest markets trends and how they could impact your global relocation program is an ongoing challenge. If you relocate international assignees to China, our latest Market Watch report gives details on the key current housing, schooling and transportation issues in the major expatriate cities of Shanghai, Beijing and Guangzhou.
China Relocation Housing Update
In Shanghai, overall residential rental market prices have risen moderately. Increasing market maturity, rising local demand, improved accommodation offerings and lack of new supply supported the rise in demand and pushed occupancy rates to historic highs.
In Beijing, the rental market remained largely unchanged with local areas like the Central Business District, Worker’s Stadium, Chaoyang Park and Shunyi remaining popular with expatriates.
In Guangzhou the market is very buoyant with rentals increasing by as much as 3% for some high-end apartments and larger-sized units.
Schooling in China
For many years the availability of school places in China has been an ongoing challege for families relocating there. While the expansion of international schools has done much to improve the situation, school places in cities like Guangzhou remain tight and interviews are required before admission. Our China Market Watch provides a useful Schools Cost Estimator for the key cities of Shanghai, Beijing and Guangzhou. It is preferable for international assignees to select a school at the earliest possible opportunity and seek enrolment quickly.
In addition to schools costs, this issue of China Market Watch reviews the cost for transportation in the three major cities included. This useful information includes the costs of new and used vehicles in different sizes, and the estimated cost of a driver to assist with future budgeting and planning.