Updated over 4 years ago on . Most recent reply
Serviced Apartments in Shanghai - How I started in real estate
Investment Info:
Single-family residence other investment in Shanghai.
My first project in China, I took over a 25 year lease and gut renovated the space by splitting it into 2 streamlined 1 bedroom apartments with terraces. These properties particularly appealed to regular business clients frequenting Shanghai. Later this style of property was popular with companies who wanted to give their staff and clients a modern serviced space in an authentic local historic part of the city. A great antidote to the typical hotel experience.
What made you interested in investing in this type of deal?
I wanted to create livable, modern spaces in Shanghai's historic, dilapidated old villas.
What was the outcome?
These properties were some of our most popular short and long term rentals.
Lessons learned? Challenges?
The challenge with historic properties in Shanghai: purchasing power is limited to people with particular Shanghai IDs, so foreigners and other Chinese nationals who are not from particular districts within Shanghai are unable to purchase historic housing. The only option is to long term lease (5-25 years).
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes! Get in touch if you need contacts in Shanghai ;-)
