Real Estate in Ningbo, China
Last updated on Feb 07, 2023
Summary: The most desirable neighborhoods in Ningbo, China are Haishu, Jiangbei, Yinzhou, and Zhenhai. The average cost to buy a nice 2 bedroom home in Ningbo is around $150,000 USD, while a nice 3 bedroom home can cost around $200,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and modern appliances. Foreigners are allowed to purchase property in Ningbo, however, there are restrictions on the amount of land that can be purchased. Expats should search for a home to buy in Ningbo by researching the different neighborhoods and their amenities, as well as by consulting with a real estate agent who is familiar with the area.
How do I find a place to live in Ningbo?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"The best way to find a place to live in Ningbo is to first consider your budget and what type of living arrangement you are looking for. For example, if you are looking to rent an apartment, you can try searching websites like airbnb.com and c-trip.com to find available apartments in Ningbo. Alternatively, you can find advertisements for apartments in local newspapers and Chinese online forums. If looking to purchase a property, real estate websites or classifieds/forums can be a great way to find an ideal place to call home. Finally, if looking for a roommate or seeking long-term lodging, you can find various listings on social media sites, student websites, and other online listings," said one expat who made the move to Ningbo, China.
What is a typical expat home or apartment like in Ningbo?
"A typical expat home or apartment in Ningbo typically has a modern, western design, with modern appliances and furnishings. Depending on the area, the flooring may be tile, marble, hardwood, or parquet. The walls are typically painted in neutral colors, like white or beige, and windows often have curtains, blinds, or shutters for privacy. Expat apartments may come with a large balcony or terrace as well, offering views of the city or surrounding town. Additionally, homes and apartments usually come with all the necessary amenities, such as hot water and heating, a washing machine, and a refrigerator," said one person in Ningbo, China.
What is the average cost of housing in Ningbo?
If you are thinking about moving to Ningbo, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Ningbo varies greatly depending on the area and type of property. Generally speaking, housing in Ningbo is comparatively more affordable than many other major cities in China, with prices ranging from around 2,000 yuan per month for a basic one-bedroom apartment to around 10,000 yuan per month for a high-end luxury villa," remarked one member in Ningbo, China.
Should I buy or rent a home in Ningbo?
If you have not spent a lot of time in Ningbo, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When considering whether to buy or rent a home in Ningbo, it is important to take into account the current real estate market and whether you plan to stay in the area for a long period of time. Renting can be a great option as it requires little to no up-front costs and provides flexibility when it comes to relocation. On the other hand, buying a home in Ningbo can be a great investment if you are able to meet the necessary financial requirements and plan to remain in the area for an extended period. Evaluating the pros and cons of each option prior to making a decision is essential for ensuring you make the best choice for your individual situation," explained one person living in Ningbo, China, China.
What do I need to know when buying property in Ningbo?
When we asked expats what advice they would give a foreigner before buying a property in Ningbo, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the local laws and regulations regarding property ownership and taxation. 3. It is important to hire a qualified real estate agent who is familiar with the local market and can provide advice on the best properties to purchase. 4. It is important to obtain a survey of the property to ensure that it is in good condition and free from any potential legal issues. 5. It is important to obtain a title deed for the property to ensure that it is legally owned by the buyer. 6. It is important to obtain a loan from a reputable lender to finance the purchase of the property. 7. It is important to understand the local customs and culture when negotiating the purchase of a property," explained one foreigner living in Ningbo, China.
Are foreigners allowed to own property in Ningbo?
When we asked expats what advice they would give a foreigner before buying a property in Ningbo, they said...
"Foreigners are allowed to own property in Ningbo, but there are certain restrictions. Foreigners are only allowed to own residential property, and they must have a valid Chinese visa and residence permit. Additionally, the property must be registered with the local government and the foreigner must have a valid Chinese bank account. Furthermore, the foreigner must provide proof of income and pay taxes on the property," explained one person living in Ningbo, China.
What appliances are typically included in a rental?
We asked foreigners in Ningbo what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In a rental property in Ningbo, tenants can typically expect to find a refrigerator, washing machine, air conditioner, and water heater. Other common appliances may include a microwave, oven, and range. Depending on the property, tenants may also find a television, internet router, and other electronic devices," explained one expat in Ningbo.
Additional Information about Searching for a Home in Ningbo:
We asked foreigners in Ningbo what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Ningbo by looking online for real estate listings, contacting local real estate agents, and asking other expats in the area for recommendations. They can also search for expat-friendly housing communities and look for rental postings on social media platforms. Additionally, expats can attend local expat events and network with other expats to find out about housing opportunities," explained one foreigner living in Ningbo, China.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.