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American buying rental housing in Wuhan
Sep 27, 2007 05:39
  • YEMMIE
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Hi Everyone,

Although I plan to continue living in the U.S., I am considering buying a house for renting out to other people in Wuhan. In other words, I want to buy a house for business purposes. I have a few questions about this.
1. Is it permitted for a foreigner to buy and own such property in Wuhan?
2. Can the money earned from renting such property be taken out of China?
3. How much do 2, 3, and 4 bedroom homes cost in Wuhan?

As always, thanks for the information. This site is always so helpful.
Sep 27, 2007 07:27
#1  
  • APAULT
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  • Join Date: Mar 11, 2006
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You haven't sated whetjer you are from China or not. If you are not I think you will find you cannot do this. The government is trying to take the heat out of the property markt abd is specifically targetting foreign speculative ownership. See JimmyB's thread from a few days ago.
Sep 27, 2007 09:25
#2  
  • YEMMIE
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  • Join Date: Aug 17, 2005
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I am from the US. My fiancee is from Xiangfan, Hubei, China. She has expressed interest in our doing this as a way of generating extra income for us. I might be interested too, but not if the money must remain in China. Thanks.
Dec 5, 2007 22:45
#3  
GUEST32151 Hi, I am interested in buying real estate in Wuhan. Have you got any information yet? Would you mind to share with me?
Dec 6, 2007 04:45
#4  
  • YEMMIE
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No, we have not pursued it. It was just one of many things we have talked about and then not acted upon. We had planned to visit a realtor in Wuhan the last time I went to China, but then other things got in the way and we never made it in to see him. Sorry, I can't help right now, but if I learn more in the not too distant future, I will post more information here.
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