Moving House: A Renter's Guide to Shanghai

Date: May 21st 2012 2:38p.m.
Contributed by: tristamarie

Shanghai's high-end real estate market often finds itself at the center of attention, but this market accounts for 10 percent of renters at best and, along with the mid-range market, is restricted to those smiled upon by either fortune or company credit. The majority of us trawl for apartments in Shanghai's lower-end market, seeking rents of RMB10,000 or less. But with so many renters floating around, it's a dog-eat-dog world of rising rents and fierce competition with little to no regulation. Believe it or not, though, great deals can still be found, provided you know how to play the game.

How do I start?

First and foremost, don't leave your planning to the last minute. Scott Cao, owner of property consultancy Lintel, suggests that you begin your pre-hunt prep about 45 days in advance of your moving date. "If you start any earlier, the market will change by the time you're ready to move," he explains.

Begin by deciding what you're looking for—the more specific the better. Beyond the basics, think about the layout and type of compound you want as well as other requirements like a balcony or proximity to the subway.

Next, do some online research. In general, rents listed on English-language sites will be above the actual asking price. The tactic is reversed on Chinese-language sites, where rents are often listed below the asking price, sometimes by a difference of up to RMB1,000. Posting different prices (and sometimes false information) in these forums is the agent's way of attracting different sorts of clients, but comparing listings across sources should give you a sense of the current market pricing.

For English-language sites, you'll find up-to-date listings on the City Weekend website. For Chinese-language sites, Soufun.com, Haozu ...