Expatriate housing in China 'suffering value drop'
17/03/09 15:42
Expatriates living in China may have noticed that property prices in the country are falling.
While some may have hoped to avoid the problems facing Western economies, China is now facing problems with its own property market, reports China Daily.
Michael Klibaner, head of research with Jones Lang LaSalle Shanghai, told the publication that expatriates in middle management roles are "getting a smaller housing package, down 40 to 50 per cent from their predecessors".
Cheaper house prices and a reduced cost of living are two of the most common reasons people look abroad for a new life.
Private healthcare costs can also be considerably cheaper than at home, although expatriates are advised to take international health insurance and make themselves aware of local medical practices.
In 2006, the Institute for Public Policy Research estimated that at least 5.5 million British citizens are living permanently overseas and many have bought their own property.
Moving abroad? Get a free quote for your international medical insurance online.
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