Bei­jing lifts apart­ment sales re­stric­tion for for­eign­ers

China Daily (Canada) - - NEWS CAPSULE -

For­eign­ers with work per­mits who have no prop­er­ties in Bei­jing can now buy one res­i­den­tial apart­ment, with the thresh­old of at least one year work­ing in the city re­moved, lo­cal au­thor­i­ties said.

For­eign­ers work­ing in Bei­jing can buy prop­er­ties and branches of for­eign com­pa­nies can pur­chase non-res­i­den­tial prop­er­ties to be used as of­fices, the Bei­jing Mu­nic­i­pal Com­mis­sion of Hous­ing and Ur­ban-Ru­ral De­vel­op­ment said. In ad­di­tion, peo­ple from Hong Kong, Ma­cao and Tai­wan and over­seas Chi­nese can buy one apart­ment in Bei­jing when they work, study or stay in the city. The new regulation took ef­fect on Feb 4.

Be­fore the new regulation, for­eign­ers were re­quired to work at least one year to be­come el­i­gi­ble to buy an apart­ment in Bei­jing, which is one of the coun­try’s five cities that re­strict non-res­i­dents to buy prop­er­ties in or­der to curb ris­ing house prices.

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