Unless you have paid tax in Kunming for 12 months you cannot get a mortgage. New regulation. Affects Chinese nationals as well.
If you already own one property in China, you cannot buy a second property in Kunming, unless you have a Kunming HuKou (Household ID, for Chinese nationals). Even with cash. New regulation.
If you already own 2 or more properties in China, you cannot buy in Kunming, even with cash. New regulation
Unless you have been resident in China for 12 months, you cannot buy property. Old regulation.
Regards real estate agents, things work differently to how they do back home. People who have property go to their local real estate agent, and this can be really local. Often 10 agents will have the same prop in the window, but only one will have the keys. There can be as many as 30 independent real estate agents in one small area.
Best way to find property is to go to the neighbourhoods where you think you could live. Have a good walk around to get a feel for the place, and look at buildings you might like to live in.
Look at local agents windows. There will always be at least one that looks more professional, possibly part of a chain. Hit these first. If you can, find an interpreter that you can trust not to try and act like an agent and try to get a commission.
Deposits vary, usually 2 months rent. You may also be expected to stump up the first 3 months rent in advance, but not always. The agent may expect a finders fee of one months rent (you pay), but this is easily negotiated down.
If you are looking to rent higher end accommodation or a house, there is a shortage of this type of property in Kunming. We tried to find 'middle class' prop of over 150m around Green Lake a few month ago. There were only 2 apartments available. We also looked for houses in the Dianchi area, only about 6, and only two were suitable.
There is a lot of empty prop around Kunming, but most of it not decorated (no kitchen, no bathroom), and of the little that is decorated many are unfurnished.
Year of the Rooster
Posted byI wish a happy and prosperous New Year to all. Especially you Roosters out there.
Popular night market locations closed, ban appears permanent
Posted byWhat is really annoying is that if you park on the side of the road, that does not have designated yellow bays, you can get a ticket. Even if the road is empty and you are not causing any kind of obstruction. Whereas, if you park on the sidewalk, no ticket.
Around Town: Spring Festival 2017 business schedules
Posted byThanks Patrick. As more of us are having a stay-cation each year, this is really useful.
Big thumbs up ;-)
Kunming to put 45,000 public use bikes on roads
Posted byAs an aside
www.theguardian.com/[...]
Kunming to put 45,000 public use bikes on roads
Posted by299 deposit. So I am in effect buying a bike, and paying a small fee to allow me to ride it around the city and then park it anywhere and walk away.
I understand the need to fund the scheme upfront, but I would prefer it if my rental fees were drawn down against my deposit, until used up. Why? Because if the scheme goes belly up I would not see my deposit returned.
Sorry if this sounds cynical, but I have not had enough bikes of mine stolen yet to make me blasé about giving others my money.