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January 29, 2008


Comrades in ARMs

Here’s the 2008 home loan repayment schedule for our apartment in Beijing. As I’ve mentioned before, there are no fixed-rate home loans available in China. You can see that we borrowed RMB1,550,000 from ICBC for 15 years in October 2005, originally paying interest at 5.814%. I believe the loan will reset in February 2008 to 6.65% (I’m eyeballing it), which means the monthly payment will jump by RMB464.52 ($64.43). Comrades in ARMs, I feel your pain. :)


Click to enlarge

This entry was posted on Tuesday, January 29th, 2008 at 11:56 am (utc+8) and is filed under China, Real_Estate.

2 Responses to “Comrades in ARMs”

  1. Laswyguy said:
    January 30th, 2008 at 12:30 am

    Chairman,

    How much has your apartment appreciated in rmb?

  2. C. Maoxian said:
    January 30th, 2008 at 7:04 am

    Laswguy: We paid 10,600/sqm in 2005 and *supposedly* the market price is now 25,000/sqm (+136%), but as in all bubbles, you never know the true price until you actually try to sell it (hit the bid which may in fact not be there).

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