Apartments & Villas for Rent in Qingdao
Apartment & Villa Hunting:
Looking for real estate in China, especially Qingdao, can be a formidable task. Here are a few things to consider when deciding where to live. Before you get started you should ask your self some of these basic questions: How far are you willing to travel to work from your home? Do you have any decent supermarkets, department stores, hospitals, financial institutions, or local farmers markets near your home? Is a major road or bus stop located near by?
Now that you have decided on a location it’s time to consider some basics. Winters in Qingdao do get windy and cold. You should find a place that has city provided or gas radiator heating. City heating usually costs about 30.4 RMB per square meter of living area. This price is for the whole winter, which lasts about 120 days. Gas heating is also very popular and usually more efficient; this type of heating, which is also through radiators, can be controlled easily. Make sure there is a radiator in every room that is centrally located. A.C. heating just does not do the job and is far too expensive in the long run. You should try to get an apartment that has windows on both the north and south sides. This will ensure an ample breeze through your apartment when you need some fresh air.
The summers in Qingdao are quite comfortable, however, for about two-three weeks near the end of August the humidity can get quite high. Again, if you find an apartment that has windows on both the north and south sides you will be able to enjoy a comfortable evening breeze. This breeze accompanied with a fan can keep you cool enough for those few weeks. However, if you can’t stand the heat you should look for an apartment that has central heating/cooling or at least a small A.C. in your bed room.
Qingdao recently switched to natural gas that is piped into most apartments. This gas is used for cooking and/or heating water for showers and central heating. In general, the hot water in your apartment comes from a small electric water heater located in the bathroom, or from a small gas boiler that is located in the kitchen. Bathrooms are generally not as luxurious as the ones we have in the west. Villas on the other hand are fully loaded with all the comforts that money can buy. Again, if you’re willing to pay the money you can have all the luxuries of home.
After the terms have been verbally negotiated, a written contract will be prepared. Once you have paid the agreed deposit, the property will be taken off the market while the lease contract is prepared. Be sure to check the landlord's ownership documentation before you sign the lease contract and/or forfeit any monetary sum. The lease terms will be written in English and Chinese, and the Chinese version is considered the official version under Chinese law.
Security deposits are usually one month's rent but sometimes can be more or less depending on the quality of the furnishings. This deposit also takes into account any damage done to the fixtures as well as any miscellaneous unpaid utility bills and should be paid before you actually move into the property. The deposit will be held by the landlord until you move out or at the time of the lease expiration.
Property & Real Estate Updates:
The residential real estate market in Qingdao reached an inflection point early in 2011 which started with a sharp decline of property sales beginning back in March 2011. The ongoing decline in housing sales has been followed by a 10 to 20 percent decline in property value of existing developments, and a dramatic decline from 30 to 50 percent for new and pre-sold units under construction, respectively. Despite these declines most eligible buyers remain on the sidelines waiting for further reductions in property value before putting their cards on the table.
The report released by The People’s Bank of China (PBOC) confirms what we have seen here in the local residential & commercial property markets over the past 3 quarters. As of yet, we have not seen a correction in the residential and commercial rental markets, lease prices have remained stable.
The current concern voiced by the Central Bank of China about panic selling and the chain effects on the economy from a fall in real estate prices was heard in round-table talks with the statistics department of the China Banking Regulatory Commission and staff members from the risk management departments from 10 of the largest real estate developers in China, as well as academia from three top universities.
The central bank's decision on December 5, 2011 to lower the reserve requirement ratio for the first time in three years signaled a broader move to pump money into the slowing economy. At this point it appears that a down turn in China's real estate market is inevitable; many speculate on the impact of its landing. Property purchase limitations in Qingdao, Beijing, Guangzhou, Shenzhen, Jinan, Fuzhou, Changchun, Xiamen and Taiyuan will continue through 2012. With sales remaining weak and the current bank loan restrictions in place, property owners and developers will have to further reduce property prices to entice new buyers.
The central government announced in January 2012 that 52 of 70 Chinese cities recorded month-on-month falls in new home prices, up slightly from 49 in November, a sign that efforts to curb speculation are working. The government hiked interest rates and restricted bank lending to rein in surging inflation and cool real estate prices, reducing the credit available to buyers and hitting property developers hard.
Apartment & Home Rentals in Qingdao:
Qingdao continue grow as new housing complexes come online. Qingdao Apartments for Rent in China's Sailing City range from as cheap as 1000 CNY to 25,000 CNY per month with a wide variety of 1 bedroom, 2 bedroom, and 3 bedroom apartments available for rent. Most villa home rentals in Qingdao have 4 or 5 bedrooms with at least 2 bathrooms, a private garden, and second floor balcony.
Over the years living standards have continued to improve and most new apartments are equipped with basic western amenities. These basic amenities usually include a washing machine, refrigerator & freezer, gas range without oven, microwave, and some furniture. The high end apartments are usually loaded with a full set of western amenities that includes an oven and decent size bathtub. In Qingdao City, as well as the majority of all modern cities in China, a "house and/or home" is commonly an apartment. Most of the apartments do not have western style bathrooms and/or modern kitchens. If you are in need of traditional western style housing, then refine your search to villas.
Qingdao serviced apartment rentals include: (1) TOP YiHe International Serviced Apartments, (2) Third Space Serviced Apartments, (3) Huangdao Serviced Apartments, (4) ChengYang TianTai MeiJia Serviced Apartments.