Communal living for new city dwellers

Updated 2017-10-28 10:31:56 CGTN

The big cities of Beijing, Shanghai and Guangzhou lure millions of young Chinese with abundant jobs and seemingly endless opportunities.

But living in these hubs comes at a cost. As with any other metropolis, expenses tally up when you are in Beijing, especially if you want to buy a house and settle down. In the capital, for example, the average price of an apartment is around 60,000 yuan or about 9,000 US dollars per square meter, a tidy sum when the average monthly salary is 9,000 yuan.

Even so, Chinese residents still prefer owning a home over renting one, still very much influenced by the line of thought that property can only be a family nest when you own it. However, many must resort to renting as ownership becomes prohibitively expensive.

The conditions in the homes available for rent are not always top-notch, and repair is often overdue for furniture and furnishings. Tenants often must sublet their apartments to split the rent, which would otherwise eat into the larger part of your salary.

Enter long-term rental apartments, small flats or studios that can accommodate one person and provide comfortable living conditions at a relatively affordable price. Will what they have to offer be enough to let the market shift traditional purchasing habits? How will this business model fare in a society that values ownership of land and property?

Bao Zu Po is a nickname for landlady in Chinese, usually depicting a dreadful lady who leases many rooms and collects rent with an attitude of disdain.

Guo Wei, a businesswoman who understands what young girls working in Beijing already go through, set up her apartment brand after this stereotypical figure out of irony, though aiming to provide a safe place for girls and offer them a cozy home.

Bao Zu Po is only available for young female tenants. It offers a variety of services from accepting parcels to spas, gyms and beauty salons. Currently Bao Zu Po is only available in Beijing, but it already turned out to be a great success.

The Chinese government is encouraging young graduates to set up their own companies, and the You International Community is riding on this initiative. It leases residential buildings that are then renovated into mostly one-bedroom suites aimed at young tenants. What makes it different from other apartment brands is that it is not only a place for the young to live and rest but also a place to start their own businesses.

You International Community provides tenants with an open office space so that they can pool their resources and information together. It also bundles in services such as business license application, tax claim and IP protection, saving tenants time and money as they become entrepreneurs of their own.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 18 2018 03:12:58

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 18 2018 03:12:58

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 18 2018 03:12:58

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords