Wuhan Real Estate ... 
  Should I rent or buy an apartment in Wuhan, China?
China Travel and Hotel Guide

Wuhan Real Estate Calculator

Finding a Home In Wuhan
If you plan to rent or buy a property in Wuhan, finding your property will be a major step in your relocation to Wuhan. If you have not lived in Wuhan, you should rent rather than buy your property in Wuhan, at least for six months. If you would like to rent or buy a real-estate property in Wuhan you may email us at webmaster@china-travel-guide.de with your real-estate questions.

It is the best way to know not only if Wuhan is the place you want to live or retire for the next few years, but also if Wuhan is suited for you.




Apartments & Houses in Wuhan
If you are planning on living in Wuhan, it is likely that you will be living in an apartment/condo versus a house.

Please make sure that modern equipments, such as electricity and water should function to the maximum. Please double-check and make sure electrical outlets are located in every room and functioning.

Make sure you turn on the water and make sure that hot and cold water is functioning and flush the toilet, turn on the shower. Don't count on real-estate agents in Wuhan to point out the negatives of a place they're trying to rent or sell you.

Wuhan Agencies
Real-estate agencies in Wuhan advertise in local Wuhan newspapers and as well on their office windows.

You should be able to notice a real estate agency in Wuhan by the window full of ads for the different apartments or houses they have available for rent or sell in Wuhan.

Before you begin working with an agency in Wuhan, check that their fees are acceptable and that they are a member of the Wuhan Real-estate Assocation. In most rental agreements in Wuhan most agencies charge a month's rent for a twelve-month rental agreement.

When selling a property in Wuhan, real-estate agents in Wuhan usually charge between 2.5% and 3% of the final sales price.
Monthly rent Wuhan:RMB
Monthly Wuhan rental insurance:RMB
Expected annual inflation rate in Wuhan:  %
Purchase price of property in Wuhan:RMB
Down payment amount:RMB
Length of Wuhan mortgage term (years):#
Wuhan Mortgage's annual interest rate:  %
Discount points on purchase of home in Wuhan:  %
Origination fees:  %
Other loan costs in Wuhan:RMB
Mortgage Insurance (PMI):  %
Wuhan Homeowner's insurance rate:  %
Monthly association dues in Wuhan:RMB
Average monthly maintenance of Wuhan property:RMB
Wuhan Annual property tax:RMB
Wuhan plus government income tax rate:  %
Interest rate you expect to earn on savings in Wuhan:  %
Expected percentage your Wuhan home will appreciate by each year:  %
Number of years you will stay in Wuhan:#
Wuhan Realtor commission rate:  %
Total estimated cost of renting a property in Wuhan:RMB
Total estimated cost of buying a property in Wuhan:RMB
After coming to an agreement on a rental or purchase, both parties in Wuhan sign the contract. However, it is not a legal agreement until the appropriate seals of the city of Wuhan with a tax stamp has been purchased and affixed to ther agreement. You have to make sure before finalising the lease or purchase that the official seal of Wuhan will be affixed to the agreement.

Renting
Real estate agencies in Wuhan are the safest way if you want to rent or buy a property in Wuhan. Please make sure they are a licensed agent in Wuhan and very familiar with the Wuhan property market.

Local newspapers in Wuhan also advertise apartments and houses for rent, but word of mouth is the best way in Wuhan. If you are currently an academic in Wuhan, you could check local at local universities in Wuhan, where apartments or rooms for rent are commonly posted.

In general rental rates in Wuhan, increase by a small percentage each year in accordance with the government's annual cost of living reports in Wuhan. You can find yearly leases in Wuhan, and more short-term housing is available near academic institutes or around tourism areas within Wuhan.

Short-term tourist housing in Wuhan is fully furnished and most of the time fully equipped. If you have the budget, you could rent a serviced apartment in Wuhan.

If you want to buy a property in Wuhan, I would highly suggest you to have the property checked out by yourself and hire a lawyer in Wuhan to check how much debts the property has currently registered and if those numbers matched with the seller of the property in Wuhan.

If you are buying a brand new property, you'll need to pay property tax in Wuhan. If your purchase is a luxury property, you may have to pay local taxes in Wuhan and possible stamp duty.

Even as a non-resident homeowner in Wuhan, you may become liable for all kind of taxes in Wuhan, including income tax.

Wuhan Mortgages
If you plan to take a mortgage in Wuhan you need at least a 20% downpayment of the purchase price of the property in Wuhan. Even if you generate rental-income from renting your Wuhan property out, it is not considered by most lenders as you may decide to move in, at a later time.

The Wuhan Real Estate calculator will help you to compare the costs of renting a house or condo in Wuhan to the costs of buying a house or condo in Wuhan. Since there are all kinds of forces at work behind the scenes such as the current interest in Wuhan, Wuhan property taxes, tax savings, appreciation in general to investments in Wuhan, comparing the cost of renting to the cost of buying in Wuhan is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment.

The Wuhan Calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision before buying or renting a property in Wuhan.

Help Buttons: For pop-up explanations of any of the entry fields, click the radio button next to the description.

NOTE: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields.

Property Types in Wuhan

  • Wuhan Multi-Family
    Traditional, multi-family residential complexes located in Wuhan and suburban markets of Wuhan.


  • Wuhan Mixed-Use
    Properties in Wuhan that integrate and combine residential with different uses, including retail and office spaces.

  • Wuhan Office
    Traditional office or office type properties in Wuhan.


  • Wuhan Retail
    Properties in Wuhan with a mix of tenants that meet the convenience needs of neighborhood residents, including video stores, grocery, and financial services companies within Wuhan.


  • Wuhan Light Industrial
    Single- or multi-tenanted spaces in Wuhan used for warehouse, manufacturing, distribution, or research and development in Wuhan.


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