Looking for a "fix-me-up" property in SH

Posted by shilongtian (544 days ago)

I've been in China for over 18 mos, and I would like to buy an old fix-me-up property in Shanghai -- something like an old apartment or home that needs major renovations. I'm willing to look at any of the central 8-10 districts for such a home that would be 100-150 square meters and priced for pre-renovations.

Does anyone know of an honest realtor who deals with properties like these? I know most of the ones advertising online cater to the high-end homes, which I do not want. Any help would be appreciated. Thanks!

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Posted by Adrienne Farrelly (514 days ago)

Sounds like you are looking for quite a local property which will most likely be sitting on the books of a local agent in a local area. So, can I suggest that you grab a good and trusted local friend and do some door knocking of local agents in good areas with quality old apartments. This is just as we'd do back home. (but with a little linguistic assistance) Visit plenty of places so that you know what market prices are, just as you would back home. Some expat agents have advice online for buying properties here so take this on board too. Lastly, use all those handy negotiating skills you would have picked up here in 18 months.
Best of luck!
Adrienne Farrelly
http//www.shanghaiprops.com

Posted by shilongtian (514 days ago)

Thanks for the advice, Adrienne. I've done exactly that. I now have a whole squadron of trustworthy friends searching for a place and talking to local realtors (while the sellers have no idea that a foreigner is the one interested); we have some great leads. It seems there are more properties like this than locals know about -- I guess because the overwhelming demand is for newly constructed high-rises (for life-long use) or for already renovated homes. I'm looking for 5-10 year use and resell, so I've found that the market is actually there. It's just taking a lot of turning over rocks to find the right one.

Posted by viaoviao (417 days ago)

Hi Shilongtian

I am also looking and would love to hear how your geting on and share our experiences together.

my email is shanghainick1yahoo.co.uk

Many Thanks

Posted by AMroadrunner (310 days ago)

We have been searching to no avail. The problem seems to be that they only think new or fantastically renovated. We have all but given up ourselves and will have to settle on a big new place to be near line 2. If you finally find an agent who gets what you are telling them, let me know and I will call them too!