Working Foreigners May Now Buy Property in Beijing

Steven Schwankert | Feb 17, 2016 10:00 am | 3 comments | 8284 reads

Foreigners working legally in Beijing may now buy property with an immediate effect, the Beijing Municipal Commission of Housing and Urban-Rural Development announced, in a move anticipated since the summer of 2015.

Previously, non-Chinese citizens were required to be resident in Beijing for a year in order to become eligible to purchase real estate. Now, a legal work permit (and a fair bit of money) is enough to buy the Beijing home of your dreams – or the rental property you've always been eyeing.

Beijing's real estate market was not long ago considered overheating, but has certainly cooled to the point that local officials are keen to encourage buying.

However, foreigners are not usually eligible for the same financing options available to Chinese citizens, which may continue to limit foreign enthusiasm for local property, even among long-term expatriates.

More stories by this author here.

Email: stevenschwankert@thebeijinger.com
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Photo: Beijing Relocation

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Tim USA's picture Tim USA Submitted by Guest on Thu, 02/18/2016 - 09:31

foreign investment is not a smart thing to do... there is a bubble here,,, empty homes, and high prices,,, eventually, that has to fall,,,

besides, there are a hell of a lot of other cities here, much better to buy in than Beijing,,, and at much lower prices... anyone buying here is waisting there investment...

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