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architecturally impressive Plaza Hyundai will
contribute to solve the significant hotel accommodation
shortage in Shanghai. It is situated in Hongqiao
District, where more than 300,000 expatriates
are located.
The project will appeal to investors looking to
prosper from the Shanghai real estate market.
The current rate of national economic growth,
combined with the revaluation of the Chinese currency
and a booming real estate market (especially in
the serviced apartment sector) makes Shanghai
real estate an attractive proposition.
Plaza Hyundai in particular stands out as an opportunity
for international buyers. The developer is due
to appoint a leading global resort management
company to manage the letting and management of
the building. As part of this deal investors will
be offered a hassle free, fully managed buy-to-let
option with guaranteed returns of 7.5% per annum
for 5 years (6.84% net after local tax and a charge
for the replacement of furniture). Unusually,
the HSBC bank is also offering mortgage finance
to international buyers at 50% loan to property
value.
Unlike the majority of Shanghai properties, apartments
at Plaza Hyundai come fully decorated and furnished
within the asking price. Investors will also have
the option of using an apartment free of charge
for seven days per year.
The 25 storey tower is the first high grade serviced
apartment building in the Hongqiao area. The property
is priced in RMB and at current exchange rates
a studio apartment will cost approximately £84,700
rising to £200,000 for a two bedroom apartment.
Discounts from these base prices will be possible
for early investors and bulk buyers. Each apartment
will be finished to a high standard with wooden
floors and marble finishes. Additional features
include central A.C, under-floor heating system
in the bathroom, internet and cable TV.
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