Tuesday, August 19, 2008
Free Chinese Lesson - Live downtown, work downtown
CITYLIFE / Hip & New
Live downtown, work downtown
(CRI)
Updated: 2006-11-07 09:18
"Live uptown but work downtown" has been a popular lifestyle choice for
many young Beijingers. However, a recent survey shows that some of them
have moved or are planning to move back to the city's downtown area. What
are their reasons?
Mr Tian has recently been busy decorating his newly-bought second-hand
apartment in downtown Beijing's Dongzhimen area. But this isn't this
thirty-something man's first home-buying experience. Three years ago, he
bought a flat in suburban Tongzhou that cost him 2,000 yuan per square
meter. Tian talks about his reasons for moving back into the city. "My
workplace is near the China International Exhibition Center. It took me
over two hours commuting from Tongzhou to my workplace, and I usually had
to suffer through several big traffic jams along the way. I find the
daily commuting wasted too much of my time and energy."
But if he lives downtown, it not only saves him much of the energy and
money that was spent on daily travel, but also he can have more time with
his friends. That why, Mr Tian says, two of his friends who bought homes
in the city's outskirts are considering moving, too.
Actually, Mr Tian and his friends are not exceptional. A recent survey
shows that 40 percent of Beijingers who own a home in the suburbs are
planning to move back into the city. Xu Yiqing, a consultant from 5i5j
Real Estate, analyzes their mentality. "Some people buy homes back in the
city for their children's education. As most good schools are located
downtown, it'll be easier for parents to drop off and pick up their kids
if they live nearby. Others move back so that their aging parents will
have easier access to good hospitals."
Several years ago when housing prices in Beijing's suburbs were quite
low, a large number of young people, who had just started working and
accumulated a little savings, bought homes and moved out there. But now
as their income is increasing while their housing appreciates, they are
capable of buying a home in the downtown area. And second-hand housing is
usually what most of these buyers are looking for. Compared to brand-new
real estate properties, second-hand housing generally occupies better
locations but boasts lower prices. According to the latest industry
report, 30 percent of second-hand houses located close to Beijing's
second and third ring roads are being purchased by suburban homeowners.
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