Expats can buy more than one home in Shenzhen!!!

Expats can buy more than one home in Shenzhen!!!
Sep 14, 2007 03:32
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	Source: Shenzhen Daily. According to the report, Expatriate families in Shenzhen are allowed to buy more than one home in the city. However, individual family members are only restricted to buy one. A regulation was made to ban foreigners and overseas Chinese to buy multiple houses in Shenzhen. It has taken effect on July 10th. The spokesman said that expat husband and wife who have been working in Shenzhen over one year, each of them can buy a house. The residents of Hong Kong, Macao, Taiwan and other overseas Chinese enjoy the same right too. However, if the husband and wife have bought their house here, both are prohibited to buy another. Foreigners have to work or study in the city for a year before buying a home in Shenzhen, according to the regulation. However, residents of Hong Kong, Macao, Taiwan and overseas Chinese are not subject to the restriction. Foreigners are required to produce work contracts and employment certificates or produce university enrollment certificates when buying apartments, according to the regulation. Meanwhile, overseas buyers are not allowed to purchase offices in the city, according to the bureau. Only overseas companies and organizations with branches in Shenzhen are allowed to buy offices here, and they have to sign a declaration that the property will be used by themselves, according to the regulation. Overseas companies and organizations cannot buy residential homes here unless they are registered property investors, according to the regulation. Foreigners and overseas Chinese who have signed contracts to buy houses before July 10 are not restricted by the regulation.

Sep 14, 2007 03:32

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

Source: Shenzhen Daily.

According to the report, Expatriate families in Shenzhen are allowed to buy more than one home in the city. However, individual family members are only restricted to buy one.

A regulation was made to ban foreigners and overseas Chinese to buy multiple houses in Shenzhen. It has taken effect on July 10th. The spokesman said that expat husband and wife who have been working in Shenzhen over one year, each of them can buy a house. The residents of Hong Kong, Macao, Taiwan and other overseas Chinese enjoy the same right too. However, if the husband and wife have bought their house here, both are prohibited to buy another.

Foreigners have to work or study in the city for a year before buying a home in Shenzhen, according to the regulation. However, residents of Hong Kong, Macao, Taiwan and overseas Chinese are not subject to the restriction.

Foreigners are required to produce work contracts and employment certificates or produce university enrollment certificates when buying apartments, according to the regulation.

Meanwhile, overseas buyers are not allowed to purchase offices in the city, according to the bureau.

Only overseas companies and organizations with branches in Shenzhen are allowed to buy offices here, and they have to sign a declaration that the property will be used by themselves, according to the regulation.

Overseas companies and organizations cannot buy residential homes here unless they are registered property investors, according to the regulation.

Foreigners and overseas Chinese who have signed contracts to buy houses before July 10 are not restricted by the regulation.

Jan 17, 2008 01:38	#1
GUEST24043	My name is Salvatore, I'm Italian Enginner. I werked here for almos one year. I would like to get some precious information before buying house my msn is hotmail.it\|salpolito

Jan 17, 2008 18:57	#2
APAULT Points: Join Date: Mar 11, 2006 Status: Offline	Salvatore. Ask the locals - ask your friends. Visit many real estate agents

Jan 21, 2008 09:44	#3
LIONPOWER Points: Join Date: Dec 11, 2006 Status: Offline	Better to discuss with a local Advocate.

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