How to Find Affordable Housing in Shanghai?

Living in Shanghai is a unique and exciting experience, with its bustling metropolitan vibes and rapid growth. However, like in many other global cities, securing affordable housing in Shanghai can be a challenge. High demand often means that rents are expensive, and competition for cheaper housing is tough. But with careful research and a few savvy strategies, you can absolutely find affordable accommodation in this wonderful Chinese city.

In this guide, we’ll look at the types of housing available in Shanghai, how to narrow down your search, and strategies for negotiating lower rental rates. We’ll also discuss how you can save money on real estate costs by exploring other options such as becoming a homeowner or renting through a guarantor.

Types of Housing Available in Shanghai

When it comes to your housing search, there are some core types of accommodation available in Shanghai:

• Serviced residences
• Hotels
• Real estate agencies
• Sublets
• Home exchanges
• Rentals through family and friends

Keep reading for more details on each of these options.

Serviced Residences in Shanghai

Serviced residences are becoming increasingly popular among expats and travelers due to their convenience and affordability. These properties usually include furnished bedrooms, bathrooms and communal living spaces, typically within their own apartment or villa complex. You’ll typically pay extra for things such as laundry services and utilities, but there are many great serviced residences in Shanghai that offer excellent value for money. It’s worth visiting leadpages or some popular comparison websites such as Booking.com, to review a range of options and compare rates.

Hotels in Shanghai

If you’re only looking for a short term stay in Shanghai, then booking a hotel room can be a great option. Many offer discounts for long-term stays, which can help you to save money. You can use comparison sites such as Agoda to find an available hotel that offers good value for money.

Real Estate Agencies in Shanghai

While renting directly from an owner can be a more informal process, many people prefer to rent via a real estate agent or property management company in Shanghai instead. This adds an extra layer of security and ease to the process, and there are hundreds of agencies to choose from in the city. Popular sites such as Dook to Home, UBS Real Estate, or Only Rent Homes are a good starting point for your search, showcasing available properties that may suit your needs.

Sublets in Shanghai

The rental market can be incredibly competitive in Shanghai, but a great way to save money is to find out if you can rent from a current tenant through the practice of subletting. You can often find these options listed on real estate websites such as Zillow. Subletting allows tenants to leave their lease early and sublet their accommodation to somebody else for a period of time – usually at a lower rate – thereby helping both parties out financially. It’s certainly worth exploring this option as some of the more affordable rentals may be available through subletting arrangements.

Home Exchange in Shanghai

There are also numerous home exchange platforms that may help you to find somewhere to stay in Shanghai at no additional cost, such as Love Local Exchange. This option may not be the most comfortable or luxurious way to live, but it can certainly be the least expensive! Home exchanges typically involve you staying in someone else’s home while they live in yours, either over the same period or alternating between your two homes over different occasions (generally free of charge).

Renting Through Family and Friends?

Another great – and often cheaper – option for finding housing in Shanghai is to rent through family or friends. Knowing that you have somebody you know and trust watching over your property is incredibly reassuring, and can often result in a lower cost for the renter too. Of course, this isn’t always possible or practical, but it’s certainly an option if you have family or friends living in the city who may be able to help you find a rental property that fits your budget.

Strategies for Negotiating Lower Rental Rates in Shanghai

No matter which type of housing you decide upon, there are almost always some strategies you can use to negotiate a lower rental rate in Shanghai. Generally speaking, if any damage has been done to the property prior to your occupancy then this can be used as leverage to try and reduce the price (or receive free amenities or services). Similarly, if you’re able to sign a longer lease or provide references then this can often help negotiate reduced rental rates too– so it’s worth doing your research and being prepared with some negotiating tactics before signing any paperwork!

Becoming a Homeowner in Shanghai

Finally, if you’re looking to settle down in Shanghai for the long haul, then buying a property may actually be more cost effective than renting over the years due to China’s favourable tax laws on property ownership and resale. After all, you’ll often end up paying more than one month’s rent anyway when buying a property – so if you know that you’re planning on staying in the city for an extended period of time then it may be worth competing with other buyers to find the perfect home. You can visit international comparisons sites such as Movoto Real Estate or Real Estate Investor Education or go local with Chinese-speaking platforms like Eju365, which provides detailed guides about how you can buy property in China with ease. Move cautiously however – buying real estate in China is no small undertaking!

To Summarize: How To Find Affordable Housing In Shanghai?

Finding affordable housing in Shanghai doesn’t have to be as difficult as it seems at first glance – but do expect some competition when it comes to securing lower rental rates! Start your search by researching on leadpages and other comparison sites such as Agoda, Booking.com and Zillow. Consider all types of rental accommodation including serviced residences, hotels and real estate agents – as well as options like subletting, home exchange and renting through family or friends too – to get the best result for your budget. Finally, if you’re planning on sticking around long term then consider turning from renter into buyer, but do so cautiously after doing your research!