A large area situated in western Shanghai, with
the Yanan Road elevated highway as the main thoroughfare from the airport to downtown. In the
area are plenty of villa compounds with gardens, pools, tennis courts and
gyms. This is the area most newcomers travel through from the Hong Qiao
airport. Chang Ning is also
where a number of international schools, markets and stores with western
goods are located. Sights in the area include the Shanghai Zoo and the Xi
Jiao Guest House and Sassoon Park gardens. The
Sheraton Tai Ping Yang and
Shanghai Marriott Hotel Hongqiao as well as the Friendship
supermarket and department store and Shanghai Mart
Convention Center are
also found in this area. Also located in this
district is the Hongmei Road food and beverage
area-featuring a large selection of restaurants
and cafes providing cuisine from around
the world. City
Supermarket International food and delimart also
has a location in this area. |
A thriving mini-metropolis with medium and high rise
apartment towers, renowned western and eastern
style restaurants and the large Carrefour
supermarket and
department store. Gu Bei is close to all forms of public transportation. In
amongst the tall high rises you can find fountains, sculptures and
playgrounds. There are many mid-level developments in the area suitable
for expatriates with families relocating to
Shanghai. Health club memberships are
available at the Gu Bei Health Club for those living at developments
without adequate recreational facilities. |
The
majestic and stately buildings of the Bund stand grandly along the western
edge of the Huang Pu River. A busy shipping channel and once the
"lifeline" of Shanghai, the Huang Pu District is a
historic traditional
area with Nan Jing Road, the "shopper's street", running down
its center. Before the building of modern department stores around
Shanghai, this was the only place to be on a Sunday and tens of thousands
of people would cram the streets and floors of places like the No.1
Shanghai Department Store and the Hua Lian Department Store. The area also
boasts the Peace Hotel, People's Park and People's Square, surrounded by
the impressive modern architecture of the Shanghai Municipal Office, the
Grand Theater and the Shanghai Museum. |
Jing An is by far the most populated area of
downtown Shanghai. Its easy access to transportation,
international shops and western
conveniences make it a popular place for expatriates to live. The Shanghai
Center dominates the central area with its entertainment and eating
facilities
such as the Tony Romas, Element Fresh and the celebrated Long Bar.
Supermarkets and stores like City Supermarket
International food and delimart and Watson's
Pharmacy cater to western needs. In Jing An,
you'll find the Ritz Carlton, Hilton, JC Mandarin Hotels
and Plaza 66 international luxury boutique
shopping mall. Opposite the
Shanghai Center stands the grand Shanghai Exhibition Center and not far
away are the historic Jing An and Jade Buddha temples. |
The main road of
the
former French Concession
area is Huai Hal Road,
renowned for both its boutiques and department stores, including Isetan,
Pacific Department Stare, Parkson and Pre-temps. Huai
Hal Road is also an
impressive sight at night with an archway of flickering lights.
Just south of Huai
Hal Road
is located the
Xintiandi food and nightlife entertainment
district-which is
very
popular with expats. On Ju Lu Road there is a string of
small "all night" expatriate bars featuring "The
Manhattan", one of the oldest in Shanghai. The area has plenty of
apartments to choose from and a few villa compounds within a variety of
budget levels. |
Set on the outskirts of Shanghai in the southwest,
suburban Min Hang has a number of large villa compounds that are well finished and
competitively priced. With the completion of the subway and easy access via
the expressway, this district has grown significantly in the past few
years. You will find a vast majority of
leading international schools located here
together with a Carrefour supermarket and dept
store and international restaurants. |
Pu Dong is a fast growing area on the east side of
the Huang Pu River. Access to the area includes a number of bridges,
tunnels, ferries and the number 2 Shanghai Metro line. The Pu Dong
area has seen massive growth in the past five years with stylish and
impressive office buildings including the high-tech Jin Mao building which holds
the Grand Hyatt Hotel. With its lobby on the 55th floor, the
Grand Hyatt is one of the highest hotels in the world. In the Lu Jia Zhui
financial zone you'll find many international banking and financial institutions, and on
the outskirts are a large number of factories. Infrastructure
is now state of the art with the new Pu Dong International Airport and
Maglev high speed train connecting the airport
to the central business district of Pudong. This
district now also features upscale luxury
western style expatriate tenanted villa and
apartment compounds together with several
convenient shopping districts featuring
Carrefour and Metro supermarket and dept stores. |
At
the center of this district lies Shanghai's famous
boulevard, Heng Shan Road (directly connected
to the Shanghai metro line NO. 1), with over thirty restaurants of diverse cuisine
tempting passers-by as they stroll down the tree-lined street. This area
is also located in the former French Concession and Consular
district with many charming vintage
villas tucked behind high walls. This is also the location of 41 Hengshan
Road, one of Shanghai's most elegant residences.
Just the south is the Xu Jia
Hui junction, a thriving commercial area of
international department stores, restaurants and
cafes where you'll
find a number of reasonably priced high rise apartment developments. The
Shanghai Catholic Cathedral, Long Hua Temple and Shanghai Olympic Stadium
are some of the main features of this area.
|
This article appeared in the Mon, Nov 4 2002 Edition
of the Shanghai Daily Newspaper
Expatriates opting
for Pudong
It was
only a few years ago that all the top managers of foreign companies in
town – people with lavish compensation packages that included housing
allowances – lived in near one another in serviced apartments in Hong
Qiao area.
But the
rise of Lujiazui and the blossoming of Pu Dong’s real estate market have
seen many of the those expats head east for a new villa on the river’s
other side.
Herry
Onggo predicted the move in the late 1990s, and he is ready to cash in on
his foresight.
The
Indonesian –Chinese chairman of Shanghai Merry Land Co., Ltd. is
preparing to market the company’s US$80 million project, Royal Garden
Pudong, for US$7,500 a month per apartment. The project is in Pudong’s
Jinqiao area- a swath of land so far from downtown people thought he was
crazy to develop the area.
‘When
I started in 1999, everyone asked why I would choose Jinqiao – a remote
export-processing zone that was home to nothing but industrial plants,’
Onggo said. ‘Because the real estate market was at bottom, I got the
land for a per-square-meter cost of US$200. Currently, the landlord price
has more than doubled to US$500 as the residential area in Jinqiao has
become popular among foreign tenants.’
Onggo’s
company, like other developers in the area, is targeting CEO’s and
senior managers with foreign-funded companies that can afford a lush villa
for from downtown noise and congestion.
Onggo
has reason to be optimistic. While occupancy rates of first class homes
dipped slightly during the third quarter of this year, they remain fairly
stable at just over 87 percent, according to a report by consultations DTZ.
Some top
projects are enjoying even higher occupancy levels. One example is Green
Villas in Jinqiao, 97 percent despite monthly rents ranging from US$7,000
to US$12,000.
When
Shanghai first opened to foreign investment on a big scale, most foreign
managers settled in the Hong Qiao area of western Changning, near the Hong
Qiao Economic Development Zone, which has the city’s first batch of new
office buildings, and the international airport.
‘However,
as ll the international flights were moved to Pudong on October 27, Pudong
will surely become more important in terms of location,’ said Michael
Qian, an investment manager with Stanley & Partners Property
Investment Management Co., Ltd.
‘Besides.’
He added, ‘Westerners demand privacy, which is in short supply in
downtown apartments.’
|
This article appeared in SCENE Shanghai Magazine Sept
2002 Edition
East
or West ? -The future of Hongqiao as an expatriate residential area
As
more multinational companies enter China in the wake of the country’s
accession to the WTO, demand in the villa market is experience a revival.
The Hong Qiao area has the largest concentration of luxury residences in
Shanghai. It has for a long time been the first choice of people from
overseas working and living in Shanghai. With the increasing
competitiveness from other areas such as Pu Dong, it is worth looking at
what Hong Qiao now has to offer.
As
one of the earliest developed areas in Shanghai, Hongqiao has enjoyed an
advantageous location in the market. It is situated within short driving
distance of the downtown area. Moreover, considering the well-developed
infrastructure, convenient transportation and good commercial, educational
and entertainment facilities, Hongqiao has long been an attractive option
for homebuyers and investors alike. However, Hongqiao now faces strong
competition from the emerging high-end residential market in Pudong. The
Pudong District is being developed not only as a center for trade and
finance, it is also home to an increasing concentration of luxury
residences. The speed of development in Pudong and its transformation to
an increasingly popular choice among the professional expatriate community
is striking. The speed of Pudong's development is far greater than that
witnessed in Hongqiao. Many property professionals now believe that Pudong
will completely replace Hongqiao as the leading area for expatriate
housing.
DTZ
Debenham Tie Leung as an international property adviser, however, holds a different view of the future real
estate market in the Hongqiao area. Although Hongqiao Airport is losing
its standing as an international terminal, the Hongqiao area is still
attractive for its unique international atmosphere, which has taken many
years to develop. Meanwhile, as the large-scale luxury residential
compounds in the area have reached saturation and land becomes scarcer,
Hongqiao has been repositioned as a site for developing high quality
small-scale projects. The demand for such properties is predicted to be
high. For instance, Westwood Villa located on Chengjiaqiao Road is typical
of such projects. It offers 21 units for lease only. The villas are
furnished throughout with high quality modern furniture, while the
kitchens and bathrooms are intelligently designed with top class
appliances and fittings. There are three styles of villa in this
development ranging in size from 280m-to 374m~. The rentals range from
USD4,500 to USD6,000 based on a one year lease term. Owing to the good
environment and superior management. These prices could still increase.
In
the second financial quarter of 2002,4 new leasing projects (see table
below) totaling 396 units were launched in the market.
| |
Silver
Court
|
Chelsea
Court
|
Green
Villa(IlI)
|
Seasons
Oasis
|
|
District
|
Luwan
|
Changning
|
Pudong
|
Pudong
|
|
Type
|
Serviced
Apt
|
Serviced
Apt
|
Villa
|
Townhouse
|
|
Unit
Number
|
278
|
118
|
32
|
74
|
|
Completion
Date |
July
02
|
May
02
|
May
02
|
May
02
|
|
Asking
Price (USD/Sqm)
|
Not
for sale
|
Not
for sale
|
Not
for sale
|
Not
for sale
|
Asking
Rental
(USD/Unit)
|
1000-3700
|
2400-9000
|
8000-14000
|
3500-4200
|
Two
of these were villas, while the other two were serviced apartments.
Occupancy rates for villas increased this quarter and were greatest in
Pudong, however, occupancy in Puxi also increased from the last quarter
from an average of 85% to 88%.
We
believe that while demand in Pudong is growing, Hongqiao will remain
competitive in the luxury residential market. The quality and environments
of new high-end residences in Pudong attracts an increasing portion of
residents and investors. However, Hongqiao is located more conveniently to
the downtown area, is better served in terms of restaurants, international
schools and shopping and is a more established luxury expatriate area in
Shanghai. In light of these issues, we do not expect Hongqiao to be
replaced by Pudong in the luxury residential market.
|
|
