As 2018 is now behind us, we have taken the chance to get a quick look at last year’s state of Shanghai’s residential leasing market. Based on all available and expat-relevant market information (last year we have made status updates to 11,645 rental properties), you can find out which are the most affordable and most expensive areas in Shanghai for expats, and learn about the average prices for various property types and layouts in different residential areas.
For better context of the data used for this market report please note: As we are specialized in finding short- and long-term housing for expats (in the sense of professionals sent on Shanghai assignments by their employers), we mostly handle high-end properties that can meet the (often very high) standards said expats are used to in their home countries. Such properties are fitted with imported, modern electronics and home appliances, from home entertainment, over kitchen equipment, to under-floor heating, etc. With regard to pricing these properties settle within the top 20%. Therefore our report is not meant to provide an accurate overview of the whole property market in Shanghai, but to help expats when discussing compensation packages or to find a suitable area within their means.
Further, prices are exclusively for fully-furnished properties in order to reflect the requirements of most expats.
Best areas to rent an apartment or villa in Shanghai
Non-surprisingly Shanghai’s suburbs are significantly lower priced than its highly sought-after Downtown areas. Xintiandi is Shanghai’s trendy and glitzy high-end shopping, entertainment, and fine-dining district, home to the city’s affluent and internationally minded elite. Excellently connected to CBDs in Lujiazui, Xujiahui, and West Nanjing Road, locals and expats alike are drawn to Xintiandi. On the other end of the spectrum we find Xujing Town, close to Hongqiao Airport. Although the most affordable area in our ranking, Xujing Town is by no means a poor choice for expat families. A vibrant international community has formed, that apparently favors a green, healthy, low-density environment with spacious suburb villas and big private gardens over posh high-rises and the hustle and bustle in the city’s center.
Average Rental Prices in Different Areas of Shanghai
Most affordable Single Apartments in Shanghai
We see that expats can find the most affordable housing options in Hongqiao, near Zhongshan Park, and around Century Park. These areas are mid- and uptown, but all benefit from good public transportation links and easy access to the highway network. For those interested in living in Downtown, Xujiahui presents the best value option.
Most affordable villas for expat families in Shanghai
Cost conscious families looking for Western standard villas are best advised to turn to Huacao Town and Xujing Town, which both offer spacious yet reasonably sized and prized properties. The setting here is very suitable for international families, as many excellent international high schools, such as the Shanghai American School and the British International School of Shanghai have facilities here.