Setting the Scene
Shanghai is located on the central eastern coast of China at the mouth of the Yangtze River and is the most populous city in the country.
Shanghai is said to be the birthplace of everything modern in China and is home to some of the most exquisite examples of traditional and contemporary architecture, including the Jin Mao Tower, an 88-story supertall skyscraper in the Lujiazui area of the Pudong.
The city boasts some of the country’s most famous historical landmarks, such as the buildings and wharfs in the Huangpu District called the Bund and the Oriental Pearl Tower.
Major Industries
At the end of the 19th century, Japan built the first factories in Shanghai, which were soon copied by other foreign powers to accelerate the emergence of the Shanghai industry.
The area soon became the most important financial center in the Far East. Today it’s still a major city for business and commerce and many large corporations base their headquarters there. Shanghai is also one of the world’s busiest ports for cargo and container traffic.
Recently the city has seen massive growth in the construction industry as the demand for housing increases and many high-rise apartment buildings are springing up. Parks have been created in between the developments to make the areas greener and more environmentally friendly in accordance with the “Better City – Better Life” theme of Shanghai’s Expo 2010.
Shanghai Lifestyle
The city is reputedly the best location for shopping in China, with its mass of shops, department stores, shopping centres and bazaars.
The area of Shanghai Xin Tian Di is a particularly popular pedestrian street with both traditional Shikumen style buildings and modern architecture, which is divided into two areas with food courts, fitness centres, cinemas and even more boutiques and shops.
As night falls the city is lit up with coloured lights and the area becomes a hive of activity. There are numerous 24 hour bars, discos, karaoke clubs, Coffee houses and Tea houses to choose from, all of which are popular places for friends to meet.
Property Insight
China experienced the highest property price rises in the world in 2007, with Shanghai prices surging by 34 per cent.
The Chinese government introduced rules limiting foreign ownership of investment property. Only foreigners who have worked or studied in China for at least a year are allowed to buy a home.
The rapid growth of the Chinese economy and the demand from foreign investors pushed residential prices in Shanghai up by 58 per cent between 2000 and 2005.
Shanghai rents have also been rising since 2000, especially in 2001 and 2002, then again in 2005 after a brief period of relative stability. The prices of prime properties in the city rose by almost 30 per cent, according to figures by the Global Property Guide.
Dan Johnson, Managing Director, comments:
“Shanghai is a dynamic and cosmopolitan city, whose locals like to work hard and play even harder. The city blends traditional Chinese values with modern Western attitudes, making it a place hard to resist.â€
For more information on Chinese Property in general please visit http://china.themovechannel.com/
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Notes to editors:
TheMoveChannel.com is a property website that was founded in 1999 as an online resource for buying, selling and learning about property. It now receives as many as 300,000 visits per month and advertises over 50,000 properties in nearly 90 countries, which are listed by over 500 partner organisations.
For further information as well as images and interview possibilities, please contact:
Dan Johnson
Managing Director
www.TheMoveChannel.com
0207 952 7650
