The traditional and historic "Hutong" homes in Beijing are one of the hottest trends in the Chinese real estate market. According to the Luxury Listings NYC, ex-pat families and affluent locals prefer to live in a quiet courtyard homes.
Acquiring a property in these narrow alleyways provides a perfect place away from the hustle and bustle of Beijing's city life. A traditional kind of home environment is reportedly most preferred by the ex-pats as well as those new comers in the city.
It has been reported that most of the hutong homes were built over 100 years ago. The Chinese elite's as well as rich merchants were the ones who made those traditional houses. The first hutong house was built during the Yuan, Ming and Qing dynasties (1271-1911). It was in 1949 that the houses made reached a total of 7,000. However, only 1,350 remained as of 2008, says the Beijing Cultural Heritage Protection Center.
These houses are now being renovated to make it more appealing in the market. The plumbing lines, heating systems are being updated. The kitchen and bathroom are being modernized in some ways, but still able to retain the historic feel of the place. With the said improvement, the rent will cost around $3,000 to $10,000 per month. That usually depends on the size and the amenities the house got to offer.
In an interview of The Wall Street Journal with some of the homeowners of these hutong homes, Nikolaj Petersen and his wife, Irene Sim shared that they moved to Beijing and about a year ago their family moved into a three-building courtyard home that is close to the Forbidden City. Petersen shared that his family spends a lot of time in the courtyard and said that "It's like living in a forest." He added, "It's full of trees and quiet and yet in the center of Beijing."
