China Luxury Homes and villas
China Luxury Property Search
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 will cut the minimum downpayment for some home purchases in smaller cities in a bid to revive the sluggish property market and a slowing economy.
China’s property bubble is bound to burst as the government’s efforts to clear the pile-up of unsold flats is unlikely to work, say market experts.
This year, the annual China Property Awards will be presenting the prestigious Real Estate Personality of the Year 2015 to Dr Allan Zeman, chairman and founder of the Lan Kwai Fong Group.
Hong Kong billionaire Li Ka-shing is shifting away from a slowing Chinese economy and bargain hunting in Europe.
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.