Guangzhou is one of the largest cities and an economic powerhouse in China.
With proximity to Hong Kong and Shenzhen, Guangdong has become a melting pot and one of the richest provinces in China, thanks to these three cities.
Guangzhou has a long history, both culturally and economically indeed, something you should read more about if you’ve not already done so.
In this article, I explain the basics you need to know when buying property in Guangzhou.
Guangzhou real estate market
Located in Guangdong, Guangzhou is the third-largest city and an economic powerhouse together with Shenzhen and Hong Kong, in the Southern region.
With an old history of trading and commercial activity, not surprisingly, Guangzhou is one of the most bustling areas in China, attracting investors and expats.
As I’ve written in my separate articles about buying property in Shanghai and China in general, prices have increased much during the past years, making the price to income ratios very unbalanced.
So how is the government trying to resolve this issue? Building a massive amount of rental units is the way forward and one of the hottest topics spoken about in the media, the fact is that the rental market is highly undeveloped in China.
Property prices in Guangzhou
Even if Guangzhou is one of the four most expensive cities, together with Shanghai, Beijing and Shenzhen, prices are still lower on average.
The average price per square meter is almost RMB 40.000 per square meter, which is still significantly lower to Shenzhen and Shanghai, where prices average at RMB 80.000 – 100.000 in the city centers.
If you want to buy cheaper property, you better look at apartments in the outskirts, where prices are half as cheap on average. Just keep in mind that prices differ much depending on where you buy.
Where should I buy property in Guangzhou?
It’s not always easy to navigate or to know where to buy, Guangzhou is not an exception. Below I’ve listed some of the most popular areas among foreigners:
Tianhe is one of the most “centrally” located districts, it’s also one of the smallest in terms of land area. Interestingly, Tianhe is written as 天河, which simply means ‘river in the sky’.
The district has a long history and you’ll be sure to find much information about its way forward, growing from a rural area to a developed like it is today. Expats and foreigners alike highly appreciate living here, avoiding the commuting problems when living in the less central areas.
A number of universities and schools (including a handful of international schools) are located in the area, you’ll be able to find everything from restaurants, hotels, shopping areas among others here.
Haizhu is a less lively area and one of the business districts in Guangzhou. Notable buildings include Sun Yat-sen University, you’ll be amazed when watching its main entrance.
Located just South of Tianhe, Haizhu is even smaller in terms of land area. Still, it’s a preferred option for people looking for apartments, due to the above-mentioned reasons.
The same as it goes in Tianhe, Haizhu has a long history, both economically and culture-wise, making it an interesting spot with a lot of nice sceneries. Less affected by the influx of foreigners, this area can seem a bit more local, but you’ll find many nice traditional Cantonese buildings weighing up for that.
Liwan is a small district located in the Western parts of Guangzhou, with proximity to the other two districts explained above. The area is famous for having much history, both in trading and culturally, making it an attractive destination for tourists.
In addition to old sceneries, you’ll be able to find modern amenities like stores and shopping malls. Worth mentioning is that Liwan is less family-friendly and a highly populated place, in comparison to some of the other areas.
Hengbao square should be of interest if you want to live in the “older” parts of the town, with political and cultural influences.
Guangzhou real estate agencies
It’s important that you find a real estate agency that has a proven track record of helping foreigners. This is important to prove that they know about ownership regulations that apply to foreigners, even if you should hire a Solicitor on top of that.
Some of the most popular real estate agencies and listing companies in Guangzhou are:
The agencies listed above are reputable companies with a long history of helping foreigners buying overseas. You might want to find a local company, just be sure that you do your research in advance and prove the agency’s credibility.
Located in Guangdong, Guangzhou is one of the biggest cities in China. It has a long history, both culturally and in trading, making it an interesting spot for many investors.
With proximity to Hong Kong and is located in one of the richest provinces in China, it gains a lot of economic spillovers, sure, a lot of economic activity is going in both Shenzhen and Guangzhou. That’s why I like this region the most.
Even if prices have increased massively over the years, prices are still lower in comparison to the other “big 3”: Shenzhen, Beijing, and Shanghai.
Building more rental units is a wise choice made by the Chinese government, to cool down an overheated market, this is something that applies also to Guangzhou.
If you want to read more about foreign ownership regulations, I recommend you to read my separate article that explains how foreigners can buy property in China.