Yantai, a picturesque coastal city in China, has always been a popular destination for tourists and investors alike. The city’s growing economy and beautiful scenery have attracted many people to buy property here. In this article, we will take a closer look at the prices of houses in Yantai in 2017.
Factors Affecting the Prices of Houses in Yantai
Several factors influence the prices of houses in Yantai. One of the most significant factors is the location of the property. Houses located in prime locations, such as the city center or near the beach, will naturally have a higher price tag than those located in less desirable areas. Another factor that affects the price of houses in Yantai is the size of the property. Larger properties, such as villas or duplexes, will cost more than smaller apartments. Finally, the condition of the property also plays a key role in determining the price. Newly constructed houses or those that have been recently renovated will have a higher price than older properties in need of repair.
Average Prices of Houses in Yantai in 2017
According to data from local real estate agencies, the average price of a house in Yantai in 2017 was around 8,000 yuan per square meter. However, prices varied greatly depending on the location and condition of the property. For example, a small apartment in a less desirable area could cost as little as 4,000 yuan per square meter, while a large villa in a prime location could cost as much as 20,000 yuan per square meter.
The Real Estate Boom in Yantai
Yantai is a coastal city that has been experiencing a significant increase in real estate development in recent years. The city has become an investment hotspot for both local and foreign investors. According to data from the National Bureau of Statistics, the real estate sector in Yantai contributed to 16.5% of the city’s GDP in 2017. The boom in real estate development has led to an increase in the number of properties available for sale, ranging from apartments to villas.
The Average Prices of Houses in Yantai in 2017
The prices of houses in Yantai vary depending on several factors such as location, size, and type of property. According to data from the Yantai Housing Authority, the average price of a new house in Yantai in 2017 was around CNY 12,000 per square meter. The average price of a second-hand house was slightly lower, at around CNY 10,000 per square meter. However, the prices of houses in some prime locations, such as the downtown area, were significantly higher, reaching up to CNY 30,000 per square meter.
The real estate boom in Yantai has led to an increase in the number of properties available for sale. However, the average prices of houses in Yantai in 2017 were relatively high compared to other cities in China. The prices varied depending on several factors such as location, size, and type of property. It is essential to conduct thorough research before investing in the real estate market in Yantai or any other city in China.