Hainan, also known as the “Hawaii of China,” is a popular destination for tourists and investors alike. The island province boasts of stunning beaches, a tropical climate, and a booming real estate market. Many people are now looking to invest in Hainan’s property market, but the question on everyone’s mind is, “How much is the cheapest house in Hainan?”
The Cheapest House in Hainan
The cheapest house in Hainan can be found in Wanning, a city located in the southeastern part of the island. The house is a small one-bedroom, one-bathroom unit with a living area of 45 square meters. The property is priced at CNY 180,000 or roughly USD 27,000. It is located in a residential complex that offers amenities such as a clubhouse, a swimming pool, and a gym.
While this may seem like a steal, it is important to note that the property is leasehold, meaning the buyer will only own the property for a certain number of years. In this case, the leasehold period is 70 years, after which the property will revert to the government.
Other Affordable Housing Options in Hainan
If you are looking for a property that you can own outright, there are other affordable options available in Hainan. For example, in the city of Haikou, you can find a two-bedroom, one-bathroom unit for around CNY 500,000 or USD 75,000. The property has a living area of 70 square meters and is located in a gated community that offers 24/7 security.
Another option is a studio apartment located in Sanya, a city famous for its beaches and tourism. The unit has a living area of 40 square meters and is priced at around CNY 400,000 or USD 60,000. It is located in a residential complex that offers amenities such as a swimming pool, a gym, and a children’s playground.
Hainan, a tropical island province located in the south of China, has been gaining popularity among investors and buyers in the real estate market. With its warm climate, beautiful beaches, and favorable policies for foreigners, it’s no wonder that more and more people are interested in purchasing a property in Hainan. However, one of the most important factors to consider is the price. In this article, we will explore the cheapest house in Hainan and what you can expect to pay.
The Cheapest House in Hainan
The cheapest house in Hainan is located in Lingao County, a rural area in the north of the island. The house is a small, one-story building with a total of 40 square meters of living space. It has one bedroom, one bathroom, a small kitchen, and a living room. The house is situated on a 100-square-meter plot of land and has a small garden.
So, how much does this house cost? Believe it or not, the asking price for this property is only 150,000 RMB, which is approximately $23,000 USD. This is significantly cheaper than the average price of a house in Hainan, which is around 10,000 RMB per square meter.
What to Expect
While the price of this house may be tempting, it’s important to keep in mind that there are some drawbacks to purchasing a property in a rural area. For example, the infrastructure may not be as developed as in urban areas, and it may be harder to find employment opportunities. Additionally, the house itself may require some renovations or repairs before it is livable.
It’s also important to note that this property is only available to Chinese citizens, which means that foreigners cannot purchase it. Foreigners can only purchase properties in designated areas of Hainan, such as the Hainan Resort Software Community.
The cheapest house in Hainan may not be the most luxurious or spacious property, but it does offer an affordable option for those who are looking to invest in real estate on the island. However, it’s important to consider the location, infrastructure, and potential renovation costs before making a purchase. If you’re a foreigner interested in purchasing property in Hainan, be sure to research the policies and regulations that apply to your situation. With the right information and planning, you can find the perfect property in Hainan that fits your budget and needs.