questions; my answers.
at the cafe
this development in Xiamen itself?
This development is in Changtai, a provincial county about a
45 minutes drive from Xiamen. The drive there is partly highway
through small towns and villages. A new highway to be ready in
one year's time will cut travelling time down to 20 minutes.
have been using Xiamen as a reference point because it is a city
many people are familiar with.
sales office for this development is in Xiamen. You will also
land in Xiamen if you are flying
in to visit this development.
not invest in
is one of the nicest city in China but I did not choose to invest
in Xiamen itself because:
apartments in Xiamen do not have common facilities ie swimming
pool, tennis courts, gyms. If they do, they are mostly
very up-market and expensive projects
properties are very expensive relative to the one I bought
in Changtai. I did not want to risk too much in my first investment
properties do not come renovated nor furnished. I did not want
to spend time flying back and forth arranging and supervising
and furniture fitting.
was looking for a healthy and green living environment with
plenty of fresh air, running water, hiking trails, farms and
activities. Nice as Xiamen is, it cannot offer what I want.
I bought for the sake of waking
up to this view every morning!
there any more units for sale?
is the most common question I am getting! The answer is yes,
there are plenty more units for sales.
original development was a villa development as you can see from
my earlier photographs. My apartment block was started as a test
development to see if people wanted to buy high-rise units out
in the countryside.
answer was overwhelming and following my block, there were another
4 new similar blocks and two other blocks which were what they
call, villa condominiums - hugh double-storey 600sqm units.
villas also continue to be built. So, there are various development
phases going on all the time. I am pondering on investing in
another 105sqm penthouse unit.
will need to check with the developer if there are new units
at your point of interest.
Look at the size of the development.
Yes, there are still units for sales
much is it now?
really don't know. I bought mine at about RMB3500psqm fully furnished
but I understand that prices now start at RMB4500. This is still
very low compared to Xiamen itself (RMB9000-12000psqm without
furnishing). As an example, I paid US$45K for a fully-furnished
81sqm apartment but do expect new units to be of a higher price
you are genuinely interested, I can get my salesperson to get
in touch with you or I can pass her contact to you if you are
ever in Xiamen.
I get a housing loan?
did not get a loan because at that time of my purchase, interest
rate was pretty high at 8-10%. At my recent trip, I understand
that rates has dropped to about 6%.
can buy properties in China as a foreigner. You cannot get a housing
loan as a foreigner unless you have a business
presence or income evidence in China. Due to this developer good
banking relationship, you can get a housing loan if you can arrange
to get a local Chinese payslip as a loan formality. (This is not
just a application formality).
my case, I arranged to pay half upfront and half upon certification
that the building has been completed externally. (They call it
Feng-Ding or Roof Topping).
there a risk in investing in China properties?
is risk in everything in life. By pioneering the way, I had taken
the risk for you.
the 80s and 90s, many overseas Chinese and foreigners lost large
amount of money in Chinese properties due to dis-honest developers,
posed this question to one of my local friends in China. He laughed
and said, look, if China can send man to space and back and build
tallest bridges in the world, do you think there is shoddy workmanship
he said that the housing and loan development rules in China has
now been tightend and applied nation-wide, so chances of rogue
developers had gone down significantly.
I had chosen a very large development that many rich and well-to-do
Xiamen people had chosen to invest in. The thumb of rule is that
foreigners may be easily cheated but by choosing to invest in where
most locals would choose to invest, I had reduced that risk significantly.
I take a drastic drop in living standard? Isn't China run-down,
dirty and shoddy?
this is still your opinion, WAKE UP!
is no longer the China that Western movies or media would like
to portray. People are no longer poor, streets are not dirty, daily
commodities are easily available. Wal-mart, Carrefour, Primtemps
are available in Xiamen and Xiamen is certainly one of the nicest,
cleanest and crime-free city in China.
have travelled to many parts of China and I agree that some places
are still not too great. However, be assured that good medical
education, daily commodities and even luxuries such as confectioneries,
drugstore, bookshops, CD/DVD shops, coffree cafes, fine dining,
spa, gyms, beauty salons are easily available in Xiamen.
there business opportunities by choosing to live or retire here?
is a subject close to my heart because this is exactly what I plan
- semi-retire and work on business opportunities here in a couple
have many ideas in mind and you may write to me in private to discuss
of the easiest idea is for a group of foreign investors to buy,
sell or lease out the properties together as a joint project. There
is a no demand for long term lease but there is hugh demand for
short term rentals of 3-5 days as it is a popular holiday destination
for the locals due to the temples, farms, rivers and rapids, mountains
trails, leisure resorts around this region.
investment terms, short but regular rentals will fetch better returns
than long term lease.
section is for my fellow Singaporeans from Singapore.
know how hard it is to survive in Singapore nowadays. High cost
of living, congested roads, packed public transport, late hours
at work, competition from FTs, pressurised healthcare, ever changing
way I am going to retire at 82. The government has 300billion in
reserves but they keep raising retirement and CPF withdrawal age. They
can go suck eggs for all that I care!
the courage to move out! Rent out your HDB flat at age 40-50, come
buy a house here and live life as it should be lived! Smell some
and breathe plenty of fresh air! Flying home to Singapore is just a
mere 4 hours if you need.
contact me if you want to know more!