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Live Downtown and Work Downtown
    2007-08-25 06:36:01     CRIENGLISH.com

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"Live uptown but work downtown" has been a popular lifestyle choice for many young Beijingers. However, a recent survey shows that some of them have moved or are planning to move back to the city's downtown area. What are their reasons? China Drive reporter Zhou Jing finds out.

(Audio available for download)

Mr Tian has recently been busy decorating his newly-bought second-hand apartment in downtown Beijing's Dongzhimen area. But this isn't this thirty-something man's first home-buying experience. Three years ago, he bought a flat in suburban Tongzhou that cost him 2,000 yuan per square meter. Tian talks about his reasons for moving back into the city. "My workplace is near the China International Exhibition Center. It took me over two hours commuting from Tongzhou to my workplace, and I usually had to suffer through several big traffic jams along the way. I find the daily commuting wasted too much of my time and energy."

But if he lives downtown, it not only saves him much of the energy and money that was spent on daily travel, but also he can have more time with his friends. That why, Mr Tian says, two of his friends who bought homes in the city's outskirts are considering moving, too.

Actually, Mr Tian and his friends are not exceptional. A recent survey shows that 40 percent of Beijingers who own a home in the suburbs are planning to move back into the city. Xu Yiqing, a consultant from 5i5j Real Estate, analyzes their mentality. "Some people buy homes back in the city for their children's education. As most good schools are located downtown, it'll be easier for parents to drop off and pick up their kids if they live nearby. Others move back so that their aging parents will have easier access to good hospitals."

Several years ago when housing prices in Beijing's suburbs were quite low, a large number of young people, who had just started working and accumulated a little savings, bought homes and moved out there. But now as their income is increasing while their housing appreciates, they are capable of buying a home in the downtown area. And second-hand housing is usually what most of these buyers are looking for. Compared to brand-new real estate properties, second-hand housing generally occupies better locations but boasts lower prices. According to the latest industry report, 30 percent of second-hand houses located close to Beijing's second and third ring roads are being purchased by suburban homeowners.

China Drive is one of CRI's radio programs aired from Monday to Friday. We pick the most interesting life reports from China Drive. Stay tuned.

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