Shanghai in Top 25 Most Expensive Places to Live

March 16, 2011

Chinese Business Economy

by Amit Ben-Yehoshua and Steve David Salem

Under a recent report issued by ECA International Ltd, an international human resources consulting firm, Shanghai ranked as the 24th most expensive place to rent a house in.

This comes as a consequence of stricter government rules on home purchases as well as the increase in migrant workers coming to the big cities after Spring Festival holidays. Under new regulations issued by the Beijing government, non-Beijing residents are not allowed to buy an apartment unless they have paid their monthly income taxes or social security fees for at least five consecutive years.

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