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Lu Su, 32, an architect at a company in the west of Beijing, was disappointed when friends told him that he had bought his home at the wrong time and, consequently, had paid far too much.
Lu paid 21,000 yuan ($3,360) per square meter for an apartment in the outlying district of Tongzhou in 2013. Compared with the large price rises in the downtown area of the city, the price of Lu's apartment has only risen by 2,000 yuan per square meter.
"Because of the trend of falling prices, some friends were concerned that the price may fall below that which I paid for the apartment, but I'm not too concerned. I bought the place for the feeling of owning my own home. I was fed up with renting, and, given my income, we won't think about selling the apartment for at least five years," he said.
"So, whether the price rises or not is nothing to do with me. I'm fine with paying the mortgage of 4,000 yuan per month," said the native of Xuzhou, Jiangsu province.
"My wife and I have quite flexible working hours and we don't have to join the rush hour traffic. It takes us more than an hour to travel to work every day, but Beijing is so big, that it will take just as long wherever you live," he said.
"It's wasn't easy to buy a house in Beijing without asking my parents for help, so I'm quite proud of myself. I'll try to buy another place in the city center once we've earned enough to pay for the education of our future child. The decline in house prices is good news, I think," he said.
Han Junhong contributed to this story.
