China eases property investment rules for foreigners
Mainland China has eased property investment rules for foreign individuals and institutions across the country, enabling qualified foreign institutional and individual investors to buy more properties on the Chinese mainland, authorities announced in a circular on Thursday evening.
The announcement, posted on the website of the Ministry of Commerce, said that for- eign institutional investors are exempt from registration fees when taking out domestic and foreign loans for property and settling foreign exchange transactions.
Foreign individuals and companies are now allowed to buy as many properties as they wish, but they are still subject to local housing purchase limits, such as that in Shanghai, where people without a Shanghai household registration are allowed to buy only one property.
Previously, foreign residents were allowed to buy no more than one property on the mainland and had to first have worked in China for a year.
Analysts said Thursday’s move was an adjustment under current market conditions, since housing prices are stabilizing and the market is mature enough to open to foreign capital.