e-mail: info@maxxelli.net
tel: (86) 4000 150 600
or leave a comment on the blog

Chongqing Hot property May 2012 –

If you have any questions or requests don’t hesitate to contact us at:
e-mail: info@maxxelli.net
tel: (86) 4000 150 600
or leave a comment on the blog

Hot Properties Chongqing April 2012

Chongqing has three city centers offering appeal for centrality and general convenience.
Jiefangbei (解放碑) is the location where it is most likely to have a upscaled and westernized lifestyle surroundings. However, it still is not equivalent to the likes of Shanghai or Beijing.
Jiangbei (江北) seems to catch up with Jiefangbei of late but still have a long way to go but the presence of best foreign food supermarkets has its appeal.
And then there is the Shapingba (沙坪坝). It is a lively and young area due to the fact that is closely located to several universities. Also here, the amenities are more foreign/friendly than in the suburbs.

Besides these three flourishing and busy metropolises, there are other city centers catching up th these big three like Nanping (南坪), Yangjiaping (杨家坪), and Yubei (渝北). Despite the big development progress of Yubei,its location is not me most convenient because it’s situated close to the airport. There are another three city centres – Beibei (北碚区), Dadukou (大渡口)and Yudong (渝东) – but these are relatively marginal locations.

City Centers – Pros and Cons

Whether living in the city center becomes a benefits or disadvantages depends on the person. Being able to take part of the vivid nightlife, the best shopping and vibrant atmosphere make them ideal for many and for the same reason, a terrible experience for others. These centers can appear hectic, packed with crowds, over-noisy from morning until night with tannoy-amplified commercialism. However, for party-animals, the city centers are ideal and for those who like to sleep occasionally, they leave much to be desired.

The following table will provide you some pro and contra arguments of living at the city center:

Pro

- Blocks tend to be well-guarded, incl. visitors check-in and out in the foyer
- It’s unlikely that your apartment will be burglered because hundred of family lives in such a block
- Foyer guards can give you information if any apartments are available in their particular block

Contra

- For 30-40 m2 : Expected to pay up to 1,000 RMB per m2
- The higher the storeys, the noisier it will be
- Accomodation is normally limited to small appartments

The advantage and disadvantages living in the Suburbs

Out of the city centers, the suburbia in the Chongqing conurbation has also amenities to offer. However, it’s the perfect place for people who want to escape from the noisy and never resting city centers. Here are some pro and contra arguments for paying attention to while choosing a home in the suburban areas:

Pro

- Fairly cheap
- Less noisy
- Surroundings are more relaxed emphasized with greenery and water features here and there (though usually turned off)
- The gate security is not as tight as in the city center
- Rapid improvements because a few supermarket chains are established in the suburban areas. Even though you have to go the city center, you’ll have to go less and less as things develop
- Security guards can give you information if any apartments are available in their particular block

Contra

- Foreigners might be an easy target for burglary because they are considered as being rich
- Far less high-rise
- Expensive security: 50-100 RMB estate fees per month
- The shops close-by: small and crammed with little of interest on offer
- Nightlife: restricted to KTV emporia

- Close to Chencheng residence, one of five prime presidential sites

- Combination of urban and natural river view

Please see the following project profiles for more information
E-mail address: marketing1@maxxelli.net
Tel: 4000 150 600

City Heights Introduction _ENG_

Chongqing and Shanghai are the first two cities in China to implement the trial tax.

“Fewer people have come to our sales office since the second half of last year, and everyone has asked if the houses we sell will be taxed or not,” said a property consultant, surnamed Lin,whose office is located in Chongqing’s Longtousi Park around which high-end apartment blocks are clustered.

“The gloomy housing market is getting even worse, and we cannot sell 10 houses a month. If the situation deteriorates further, I’m afraid that my colleagues and I will lose our jobs,” said Lin.

According to research conducted by Chongqing Municipal Land Resources and Housing Administrative Bureau, the number of people who visited sales offices in high-end housing areas has recently dropped 30 percent to 50 percent, and considerable number of homebuyers changed their minds to buy smaller-sized or more modestly-styled homes.

Statistics show that from January 28 to November 30, the sale of high-end housing in Chongqing plunged to 700,000 square meters, 4.1 percent lower than that of 2010.

“The implementation of the tax restricted the development of the high-level housing market, and then curbed the prices of this kind of housing,” said Wen Xing, an official of Chongqing Municipal Land Resources and Housing Administrative Bureau.

The property tax also rationalized the structure of the commercial housing, cutting the rate of large-sized houses and increasing mid- and small-sized houses supplies, thus more ordinary people can now afford a home, Wen said.

Chongqing began to tax all villas as well as new apartments priced at least two times the average price of all newly-built homes last year.

The annual tax rates are 0.5 percent of the transaction prices for villas and apartments priced less than three times the average price, 1 percent for those priced three to four times the average and 1.2 percent for those priced more than four times the average.

For a family, the first 180 square meters for villas and first 100 square meters for high-end apartments are exempted from tax, according to the regulation.

For non-permanent residents who don’t work or run companies in Chongqing, their second homes will be taxed at 0.5 percent regardless of the prices.

A taxpayer surnamed Luo has a villa in Jiulongpo district, covering 250 square meters. Luo said he must pay 2,000 Yuan ($315) in tax for the excessive 70 square meters of his villa each year.

“I hope the housing tax won’t be too high, as my family won’t be able to bear the burden,” said Luo.

The owners of 8,563 high-end houses paid more than 90 million Yuan ($14.2 million) in taxes10 months after the implementation of the trial tax, said He Zhiming, vice president of Chongqing Finance Bureau.

All the property tax revenue will be used for the construction and maintenance of public rental housing in Chongqing, He said.

The levy is designed to help regulate income distribution and promote social equality, and guide reasonable housing consumption for land saving and intensive use, according to a statement issued by the Ministry of Finance, the State Administration of Taxation and the Ministry of Housing and Urban-Rural Development.

Chongqing government built 110,000 units of public rental houses in 2011, accommodating more than 300,000 urban low-income earners, including migrant workers and graduates who had failed to find a job.

Regulations stipulate that a tenant can buy his rented apartment after five years of renting at the price based on the apartment’s construction cost — much lower than the prices of commercial housing.

Source: China Daily

According to statistics from investigate.800.com.cn, a real estate website based in Shaanxi, 935 units of commercial housing were sold last week in Xi’an, a decrease of 39.89 percent week-on-week. Property market turnover also dropped in the six districts in Xi’an, of which the new home transactions in the southern part of the city dropped the most, falling 63.88 percent week-on-week.

Industry experts found that the property market environment is likely to shift to a difficult place this year. Given the tight controls unveiled by the government and the banks, property buyers can hardly expect to see a funding catalyst in the upcoming quarter. On the other hand, with land prices likely to drop this year along with an increased supply of premium land, this will serve as a signal for being the right time for buyers to make land acquisitions over the next three years.

(Source: Global Times)

If you have any questions or requests don’t hesitate to contact us at:
e-mail: info@maxxelli.net
tel: (86) 4000 150 600
or leave a comment on the blog
Chongqing Hot Properties February 2012_2_

Chongqing Hot property Jan 2012

t: 00(86) 4000 150 600
info@maxxelli.net
www.maxxelli.net