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Thread: I want Buy apartment
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[quote=GUEST77202,318453]Dear All, I will try to help every one here, ok let's start. It is true that you normally have to work at least one year or be a permanent resident( which is very dificult) or being married( which people forgot to mention above) Now I own 2 proprety in Hainan province, I bought one 2 year's ago( Sanya Hainan province) and another one 6 month ago in Wanning (Hainan province still)this is the province right now where you can get the fastest return on investement There is way of doing this if you buy your proprety directly from the proprety developer, now you need to undertsand that you only own the right to use it for a certain amount of year's it is normally the following: 35 year's 40 year's 50 year's 70 year's and then the land will automatically go back to the governement...to this day the law is still the same which means that you can not give anything to your kid's...so you not actually buying. now you may want o know who decide on the lenght of the owner ship of the land...very simple, the dealis always done betwenn local authority and in most cases(99%) proprety developer, and it is done behind close doors...basically is all about how much monney goes on the table and thenthe governement decide how long they will give "owner ship of the right to use the land" I hear above that loan are possible in China, yes they are but as a foreigner it is very difficult to get approval; now let me tell you, why would you want to do a loan...??if yu going to invest pay cash, is the best way to get a discount, to do a loan is not smart...why...simply because by the time you paid off you loan it may be 20 0r 30 year's, remember you only "own the right to use" therfore in 30 year's you may only have 20 year's left on you proprety licence, therefore you can not sale it anymore or pass it to your kid's in this case you may as well rent as the loan you are paying back to the bank may be more expensive than renting....so be smart if you going to buy anything... I work for one of the richest women in China( Mrs Lim, she own proprety as well as retails and we also own the biggest tyre manufacture in China, we do buy land and most important of all we have "guanxy" with local authority, which is the most important thing. My wife is shanghainese so is my daughter, and one of my friend is the chef fire officer of the huangpu distric in Shanghai....( high ranking governement official) I am french my self. I do not think many people will know as much as i do, even if yu lok at china law blog they won't know as much, simply because they do not know governement official. that is it, i hope this can help people in there research...you can contact me if you which to know more at ffuseau@0n-the-bund.com good luck. [/quote]
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