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.
Report: Yunnan bonds shaky
Posted byI checked and it was still available yesterday. Not sure of minimum period. But three months makes a nice change from the usual minimum of 12.
Report: Yunnan bonds shaky
Posted byYes this is a high tisk period, and yes there have been problems in the past, but I think the HuaXia bank scandal last year put the cat among the pigeons for wealth management schemes in China.
Because there are so few investment opportunities, combined with so few people willing to invest, and with recent regulatory changes the banks need to/have to move money in the markets. This has opened up some more attractive products at the moment.
We have just been offered 5.5% projected annual growth for a wealth management product, and get this, the principle is protected (you cannot lose your original investment). You can invest for limited periods too. We invested for 3 months, as we have some spare cash for that period. I think you can invest for as little as one month.
NB This is not a recommendation for people to go out and invest, it is just a bit of information on another related trend in the market at the moment.
Volunteers needed to help Lufeng schools
Posted byI can't help feeling the participation/contributions to the event would have been higher with a different title to the article. I am cynical, TIC afterall.
Yunnan raises minimum wage
Posted byDon't hit the guy in front.
Don't hit government vehicles.
Yunnan raises minimum wage
Posted byStop on red IF there is a traffic cop standing there.