How much money would be cost on a 120m2 apartment in ur country?

China
October 8, 2008 1:41am CST
My family just brought a new apartment covers 120m2 at a price of 710,000RMB ($1 = 6.8 RMB)without any fitments. the house price has been skyrocketing these years, especially China's reforming and opening-up policy put into effect.the estate market becomes overheat. while, our apartment is close to the centre of our city, enjoy a good district and convenient transport. that's the reason why so expensive?but our city isn't a big city or metropolis. it's just a unknown small city. i can't imgage how much would it cost if it lays in capital or some metropolis. maybe as high as 2,000,000. have a look at the income.(refer to the salary), public general salary is 2000~10,000 per month. in owning a house, how many years should we struggle for ?? wt a miserable reality!! how is the condition in ur country to buy a new house? Is it very hard too??
1 person likes this
1 response
@dandan07 (1908)
• China
8 Oct 08
I am a Chinese, noe living in Shanghai. The apartment covering 120m2 is at least 1200000RMB here. So I really doubt what kind of people here can afford it, so far as I know the average income for a person in the city is 2200RMB a month. In China you have the ownership of a apartment only lasts 70 nyears, while you do not own the land the apartment located. So that means you spend so much money for lent the aparment for 70 years, if it break down for some reasons, like the earthquake or typhoon. You will have nothing. So it is quite unwise for us to buy an apartment on the mortage.