Guangzhou rental prices - are people really paying that much here?
I have a long term rental in Poly Tianyue that costs 12,000 RMB per month. It’s ‘OK’ by European standards but it’s nothing special - when we moved here we were surprised to be paying so much. Some of the ‘nicer’ buildings in the same area are advertising apartments for 50,000 RMB/month and they’re probably more expensive than similar apartments in central London.
I have 2 questions:
Are people really paying the advertised rates? Or is that just a headline number and the negotiated final rate is significantly lower?
If people *are* paying that money, what on earth are they doing for a living? There are hundreds and hundreds of that size apartment in my area. How are there so many people that are earning millions of RMB per year? This is not a global financial hub, it just doesn’t make any sense to me when I look out the window and count up how many crazy rich people there must be if that’s the going rate. And this isn’t even the ‘posh area’ of the city..