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Q: is it easy for a foreigner to buy a house in China??
What are the procedures and formalities??
12 years 45 weeks ago in Business & Jobs - China
chinese nationality is important, if you have the green card or if you are married to chinese you can buy it on her or his name. yes if a foreigner can afford 1 million yuan or an apartment in between 500,000 yuan to 1Million yuan so i guess they can buy it. chinese love it when foreigner invest money in their country....
Know someone(not Chinese), bought 6 apartments in Shanghai, still don't know how he did it, guess money is not the only issue, still need some contacts.
contacts comes with money he must have some business thats how he can manage to buy 6 apartments in shanghai. i know it does requires contact but how can it be done with out money not being involued.
Sure he is rich, but even rich Chinese cannot buy so many apartments in city like Shanghai or Beijing, it's kind of controlled by our "great" government.
chinese nationality isn't required for buying a house here.. all you need is money ..
but there's restriction on number of houses you can buy ..
in fact , once you can buy a house then its easier to get the chinese nationality .. since its one of the three conditions on which we can apply for chinese nationality; the other two conditions are :
- having a close chinese realtive (spouse,parent etc )
- other genuine reason ( this is where your GUANXI comes into play)
中国人的近亲属；
定居在中国的；
有其它正当理由
NOT MANY HAVE BEEN GRANTED .. BUT YOU CAN EXTEND YOUR RESIDENT PERMIT ( THIS IS FOR SURE)
u have to have lived at least one year in china (on proper visa). thats all i know.
The problem is: some people say, that after 50 years your property will become state property, i.e. PRC doesnt has an institution of private property (in western sence) for real estate. In 50 years you automatically loose your home. Or am I wrong?
chenhan:
Yes,you were wrong.In fact,what you said should be 70 years rather than 50 years.Besides,after 70 years,the house will still be yours,but you will need to pay for usage of the land on which the house is built because all lands in the country belong to the government,and the general period for renting the land for construction is 70 years at most. However,cost for rent of the land is quite cheap then.
