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Forums > Living in Kunming > Buying Property In Kunming

@tonyaod
"There are some small consequences to consider when you put a lower sales amount. If the hold the property for 5 years or more before you sell, then it doesn't matter too much, however..."
All you need to do is sell and provide a lower sales amount on the documents.

It is not unusual here for the seller to want an net figure from the sale. As such the buyer often picks up the tax. Another reason for giving a smaller figure on the docs.
Although this is tax evasion, it is normal practice here in Kunming.

@laotou
"1. Individual purchases - Individuals may purchase multiple properties in different cities or areas. As most police databases are not linked - this is a legal blindspot - buyer beware"

As far as I am aware there has been a national land/property register in China for several years. That is why I cannot buy more property.

There is also a new regulation in Kunming, it may be rolling out from BJ, a household cannot purchase a third property any more (even for cash).
In addition, a person cannot get a mortgage in Kunming unless they have paid tax in Kunming for one year. These will cause problems for those who relocate from another city.
Firstly, from what I am told (and if I am wrong, please tell me) if you have 3 properties you will have to sell two in order to buy your new (2nd) property in Kunming.
Secondly, if you have a mortgage in another city, and you sell up, you will still need a new mortgage in Kunming, after you have paid your tax for a year.

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Comments

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The figures quoted from Bloomberg above are incorrect. Whichever source Bloomberg used, did obviously not sanity check. I watched an interview with the CEO of Mobike a while back, and I am pretty sure he said the cost of the bikes was CNY 1000, not USD 1000.
If you apply the same correction to the other figures, then Bluegogo would be CNY400 CNY, which seems about right; as three years ago I bought my daughter a cheap bike for CNY400 retail. Consider direct from manufacturer prices. As Ofo seem to be even lower quality, then CNY 300 would not surprise me.

Factor in these adjusted prices to business case calculations, and it all makes more sense.

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Bluegogo has gonegone.. It looks like ofo are flooding the streets with the cheapest of bikes, and Mobike looks like it has been forced to invest in cheaper machines. Now the questions are, can Mobike survive the swamping of the market by ofo? And can ofo's disposable bike policy be sustained?

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Seeing as said foreign country's company will probably pay for most of it, 55 years may not be so long, when you leverage risk factors. However, seeing as most tourism will be inbound from said country they should get a return.

The alternative is probably no airports, and no big (probably massive) increase in tourism revenues.
It would probably be a good idea to visit these places before they are consumed by the tourist industry.

Reviews

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A reasonable choice of lumber that has improved over time. Fancy hardwoods like walnut, and mahogany are in abundance. There are some plywood and rubber-wood boards available. There are also some kiln dried imported softwoods and merbao available. Some of the lumber is very green, so look for the kiln dried if you need stable timbers.

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Echo everything said by others.
Breakfast great and the serve from 8am. Most other places say 9am and they still are not ready.
Sandwiches are cheap 22-32, and really packed full of filling. We got some sandwiches for a day out, the only mistake I made was ordering two, as this was too much. These are seriously good sangars, and they are wrapped in alu foil.

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In fairness to Metro, they are a wholesalers, and not really a supermarket. Hence the need for a card, which can be got around.

They have improved in the year I have been away. They now carry a more consistent range of imported foodstuffs and they also seem to have sorted out the mported milk supply.

They have a wider range of electrical appliances now, there is a coice of more than one toast. There is also a better range of seasonal non foods, like clothes, shoes, garden furniture and camping gear.