Bricks and MortarPrices of homes near top mainland schools soar
Education resources are unevenly distributed with priority often given to district residents
Despite the cooling down of the mainland's real estate market, some owners asking eye-catching high prices are able to sell their homes faster than cheaper ones elsewhere.
These pricey homes are often near prestigious public primary or junior high schools.
Homes near top schools are typically priced up to 50 per cent higher than others
In mainland cities, educational resources are unevenly distributed geographically, and good schools take only children registered as residents in nearby communities.
Many parents will pay whatever they can to enrol their offspring in such schools.
Domestic media recently reported that small homes along some narrow lanes near a busy central shopping district in Beijing were sold at prices up to 300,000 yuan (HK$377,000) per square metre. And asking prices there are still rising, bucking the market trend.
The reason? Parents buying these homes can potentially enrol their kids in Beijing No 2 Experimental Primary School, the capital's top school.
It is said that children of many senior officials attend the school, including the grandson of former premier Wen Jiabao.