China Luxury Homes and villas
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China has relaxed its real estate investment rules for foreigners in the hope that it will help boost slowing economy. A government statement issued Thursday, August 27, 2015, by the Chinese Commerce Ministry and other local officials, changed previous rules which governed foreign property investors.
According to the Commerce Ministry, foreign investors are no longer required to pay registration fees when applying for domestic and foreign loans to finance property investment in the country, or when settling foreign exchange transactions.
Aside from this, foreigners and foreign companies are now allowed to buy more than one property, provided the foreign investors stay within the local housing purchase limit set for the area. Previously, foreign residents are only allowed to purchase one home after staying and working in the mainland for at least a year.
China has relaxed rules on property sales to foreigners, in a move seen as aimed at boosting the country's real estate sector amid a slowing economy.
Majority of wealthy Chinese nationals are spending their fortune mainly on luxury properties, yachts and private jets, based on the latest Luxury Consumer Price Index by Hurun Research Institute.
Chinese and Singaporean developers are contemplating bigger price cuts in an effort to attract more homebuyers as domestic residential markets start to cool down.
China-based investors are looking abroad for various real estate investment opportunities, partly in response to the Chinese government’s “Go Global” campaign.
Short supply of high-end homes and the increasing number of rich mainland families will continue to drive up luxury home prices in China this year.
China's new home sales for 2013 surpassed $1 trillion for the first time.