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Posts: 35

Governor

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Q: How many homes can I buy here in Shanghai as an expat?

I heard that there is a new rule that locals can only buy one home and only if they are married or if they are actually Shanghainese. So my question is how many homes can i buy here in Shanghai as i am interested in some rental properties sometime in the future?

11 years 31 weeks ago in  Housing - Shanghai

 
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Posts: 2409

Emperor

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As the law stands now, foreigners are only allowed to own 1 property in all of China.  Locals can buy as many as they want, but the amount they need to put down and the interest they need to pay goes up with each property purchased.

 

Of course, this being China, the rules are open to vast levels of interpretation depending on the city, time of year, proximity to lunch time and the size of the hongbao in your hand.

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11 years 31 weeks ago
 
Posts: 284

Governor

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It is depends on which community the house you want to buy are in. some communities have to meet rules which Chinese can buy or not. The rules is strict because, once you buy the house, your name will be registered in corresponding government department. If you want to buy the second one, you cannot go through the procedure.

 

I dont know whether foreigher can buy second house or not.

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11 years 31 weeks ago
 
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Emperor

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You, as an individual, by law in China, can only have one real estate property, and must use it to live, can not rent it out.  You must reside in China at least one year before you buy that property.

 

But as an ExPat, if you want to buy more than one apartment, and rent them out, you must create and register a Foreign Wholly Owned Corporation, and once all formalities are done, then you can buy as many as you have money to pay for, because I doubt a bank will loan you (because you are not a national) any money.

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11 years 31 weeks ago
 
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