Hi, is there anyone who knows the regulation to buy an apartment in Kunming for Foreigner. I heard that China Govt has just put a new regulations saying that foreigners are not allowed to buy apartment now.

Any certain information would be appreciated.

Regards,

HR

have a look on the web epaper.bjnews.com.cn/html/2010-11/16/content_169720.htm?div=-1

The rules are that if a foreigner (or HK, Taiwan or Macau "citizen") has been working or living in China for a year they can buy an apartment to LIVE in. So you can buy one after you have lived in China for a year. According to the new rules the local government needs proof from the relevant authorities that you dont own any other property in China,,whether they can actually do that is another discussion.

Many people just use their Chinese spouse's name to register the flat, in event of divorce/splitting up this also makes it easy to get rid of that "shared" asset,,,, But as a Laowai,,you can own the one apartment you live in.

Thanks, okay, so that the regulation now still allows foreigners to buy house in term and condition. What about the bank loan? Can foreigners buy it using bank loan? What the difference between buying brand new apartment and second hand apartment for foreigners?

Regards,

HR

yes, foreigners are allowed to buy in kunming and the rule is relatively 'relaxing' in comparison to other cities.

i have just finalised a contract last month. the process goes like this, you find a willing vendor then go to Kunming Property Trading Center(昆明市房产交易中心) on Baoshan St where is a a kind of one-stop-shop for property transfer. the centre has several Notary Public Offices specialised in certifying document for property transfer and international notary works, the staff there are up-to-date with the latest regulation and will advise you accordingly. all Notary Public Offices there have english speaking staff on the floor to help.

you could look for hints on their website, it is all in chinese however :-(

www.kmhouse.org

Is the advice given by Yuantongsi current (as of July 2011)?

I have bought a house, paid the money and signed contract etc (everything was arranged through my employer the Chinese Academy of Sciences).

However, now the Developer is trying to back-out and claim that we need tax receipts from Kunming not just proof that we are living in China.

That regulation also applies to Chinese nationals.

If a Chinese national without a Kunming Hukou wants to but property in Kunming, they must show tax reciepts (paid in Kunming) for at least 12 months, before they can get a mortgage. My Chinese wife was caught by this one.

However, there are agents (I assume accountants) who can produce tax records for potential buyers at a fee. Sorry, I didn't get any names.

Can you use a lease of rented apartment as proof?

As far as I am aware you must show tax receipts if you want a mortgage. I think the regulation is that you must have contributed to local tax for 12 months. Tax returns/fapio are the only proof of this.

I am not sure on the regulations if you have cash.

However, if you wish to buy outside Kunming (a tier 2 city), like in Anning, the regulations differ. And Tai Ping (Anning) is just on the other side of XiShan, just off the highway. About 40 minutes from downtown.

Thanks for the help. If anyone can recommend an agent who can help us with the tax receipts it would be much appreciated.