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Q: Can foreigners legally own property (well lease rather) in China?
I am considering buying a nice apartment in China because I know it is a good investment. Nice apartment near the water in a upscale area of town. To be honest, rent here is cheap but I just want my own place here in China.
This is where the issue comes in and I need someone that has experience in this area.
Can a foreigner fully own or at least partially own an apartment or property.... or do we have to put it under our Chinese wife/husband's name?
I know it isn't really own, since you can only legally lease property for 70 years in China (although, I am pretty sure those laws will change in 70 years anyway...)
It is mainly for 5-10 year investment purposes. Anyone know?
Yes, you can. But if only in your name (foreigner), you can not get a bank mortgage, and must pay the full amount out of your "savings". And also you can not rent it either, must use to live in it yourself and family.
I personally wouldn't recommend it anyway because I suspect if inflation gets any worse the next legislation passed will be to take all land owned by foreign companies and individuals. (Please note that I'm not a lawyer, this isn't legal advice, I represent no one, and no animals were hurt in the production of this posting.)
