Updated August 4, 2020
Whether it is about a short-term or long-term, finding a suitable accommodation is one of the most important aspect of living in any country. In China, buying a house has become a virtually necessary in everyone’s life. Although most of the expats in China would just rent an apartment, for the local Chinese people, it’s considered to be very important to buy a house, especially before getting married. As I mentioned in my previous post, it’s quite normal for a young Chinese woman (and her family) to expect the bridegroom to buy a house.
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So, how much is the price to buy a house in China?
Let me share with you the latest Chinese Real Estate price data (US $1= RMB 7) in the Suzhou (苏州), a city in Jiangsu province of China.
Well, I live in China (Shanghai). I have been closely following the Chinese housing price data. With the help of my Chinese friends, I went through the official/reliable reports (in Chinese). I did additional research about buying a house in China. Then, I thought of sharing an authentic information, to buy a house in China, with the public.
Disclaimer
House prices are always changing. Even for the same apartment types, in the same building, different floors will have different prices. Moreover, the prices change on a regular basic. Therefore, the average price data presented in this post should only be regarded as a rough estimate.
Moreover, the prices highlighted in this post are for the second hand houses (you buy a used house, often from a friend/colleague/relative). If you buy a new house (from a real estate developer company), the prices could be higher (or lower) depending on locality and numerous other factors.
Further, I’m not in any Real Estate business. This post, written based on my living experiences in China, is presented in the public interest. Viewer/reader discretion is advised!
Chinese Real Estate price Data Source
The housing price data below are primarily taken from Fang Tianxia, Anjuke, and Suzhou Local Treasures. (来源：房天下、安居客、苏州本地宝综合整理).
For your reference, I’ll also add the official images for house price data. The prices are mentioned in Chinese. You can click on the images and see the detailed prices. Although knowledge of Mandarin Chinese is required to read Chinese characters on the images, you should nevertheless be able to read the numerals. 🙂
It’s seems that the housing prices in the eastern part of China are probably the most expensive ones.
Why Did I Choose Suzhou (Jiangsu, China)?
Suzhou has one of the highest GDP in China. The city is close to many metropolises like Shanghai, Nanjing and Hangzhou. The housing prices in Guangzhou/Shanghai/Beijing would be comparable to that of Suzhou, or in some cases could be about 15-20% higher. However, in many other cities, like Nanjing, housing prices are expected to be slightly lower.
Not to mention, the cost of living in Suzhou is slightly cheaper than those in Hangzhou and Shanghai.
Suzhou is an ideal city for living/working in China. Suzhou air quality is much better than most of the Chinese cities.
In fact, if you were not sure which city is best in China in terms of quality of life, my recommendation would be to settle down in Suzhou (I’m in Shanghai, about 30km away from Suzhou). I have heard that for the vast majority of people working in Suzhou, they’d often plan to settle down in Suzhou.
So, let’s take a look at the house price in Suzhou in June 2020. With all the information in this post, hopefully, you can better plan to buy a house in China. Or, maybe, even your motivation for working sincerely and earning a higher salary would go high immediately!
Average Suzhou House Price Trends (June 2020, 苏州房价走势)
It’s seems that the housing prices in the eastern part of China are probably the most expensive ones.
The average price of second-hand houses in Suzhou (June 2020): 27597 yuan/m².
Average price of second-hand houses in Suzhou (May 2020): 27857 yuan/m².
A month-on-month decrease of 0.93%↓.
Assuming that you already know the salaries in China, may I ask how far you are from buying your dream house in China? 🙂
House Prices In Different Districts Of Suzhou
As you may already know, Suzhou, including the countryside, is a major city and a hub of economic activities in the Yangtze River delta. For the purpose of administrative convenience, Suzhou, like most of the Chinese cities, is divided into different districts.
Now let’s look at the housing prices in different districts of Suzhou.
#1 Suzhou Industrial park (工业园区)
This is of course one of the most expensive areas of Suzhou.
The average price of second-hand houses in the industrial park (June 2020) was 38,453 yuan/m².
The average price of second-hand housing in the industrial park (May 2020) was 38,713 yuan/m².
A month-on-month decrease of 0.67% ↓.
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#2 Gusu District (姑苏区)
The average price of second-hand houses in Gusu in June was 27834 yuan/m².
Gusu May second-hand housing average price: 27832 yuan/m².
Up 0.01% month-on-month ↑.
#3 High-tech Zone (Gaoxin, 高新区)
The average price of second-hand houses in High-tech Zone (Gaoxin) in June was 28534 yuan/m².
The average price of second-hand houses in Gaoxin in May was 28979 yuan/m².
Down 1.54% from the previous month ↓.
#4 Xiangcheng District (相城区)
Average price of second-hand housing in Xiangcheng in June was 19187 yuan/m².
The average price of second-hand houses in Xiangcheng in May was 23,000 yuan/m².
A month-on-month decrease of 16.58%↓.
#5 Wuzhong District (吴中区)
The average price of second-hand houses in Wuzhong in June was 20971 yuan/m².
The average price of second-hand houses in Wuzhong in May was 26,000 yuan/m².
A decrease of 19.34% from the previous month ↓.
#6 Wujiang District (吴江区)
The average price of second-hand houses in Wujiang in June was 15,830 yuan/m².
The average price of second-hand houses in Wujiang in May was 22,000 yuan/m².
A month-on-month decrease of 28.05%↓.
Suzhou County Level Cities
A quick look at the house prices in some communities in Suzhou’s four counties:
#1 Zhangjiagang (张家港)
#2 Changshu (常熟)
#3 Kunshan (昆山)
#4 Taicang (太仓)
Final Thoughts
Don’t be discouraged by the Chinese Real Estate price data presented in this post. If you move to other cities (especially in the northern China), the prices could be more affordable. However, if you can’t afford to buy a house in China now, then as they say in Chinese, just work hard, work smart… have a dream… maybe it will happen someday…
I hope you can buy the kind of house you like!
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