Usually a 30% down payment is required, also varies from different locations . [30], Restrictions on the sale of real property are established by law.  For example, if the transfer of the land-use rights is priced substantially lower than the market price, the government has the preemptive right to purchase the rights. Accessibility | Different to chufang land-use rights, there are normally no limitations on the length of time for which land-use rights can be allocated. 8.) [11] Tudi Dengji Banfa [Land Registration Measures] (promulgated by the Ministry of Land and Resources, Dec. 30, 2007, effective Feb. 1, 2008), Westlaw China. As the growing number of Chinese has been buying property, foreigners planning to live long-term in China have also become interested in buying property of their own. [29]  When real estate is transferred, the land-use rights and home ownership are transferred simultaneously. The description below applies to the post-reform legal arrangements and should not be confused with nationalisation of property before 1978. Additional information on this topic is available, Prepared by Laney Zhang [7], According to the Property Rights Law, the establishment, alteration, transfer, and elimination of real property rights must be registered, unless otherwise provided by law. [31]  The Urban Real Estate Law defines situations under which the transfer of real property is prohibited, including when. Comment and Posting Policy. Very informative post. [31] Assignment Regulations, supra note 12, art. Required fields are indicated with an * asterisk. [15] Assignment Regulations, supra note 12. Nevertheless, When intending to own a house in China, foreigners who have lived or want to live in China for an extended period of time may have heard of the rising house prices in China’s first-tier cities, such as Shanghai, Beijing, and Shenzhen. [1] Xian Fa (1982) (P.R.C. You are fully USA.gov, Official Registry of Land-Use Rights and Home Ownership, http://news.xinhuanet.com/english/china/2014-12/22/c_133870891.htm. Before we can understand how people in China can afford to frolic in their country’s over-inflated housing market, we must look at where this market came from. However, if you do buy a house here, you will need to live in it and if you spend more than five years in the country, you might become eligible for a permanent residence on different merit. 23&24. the property has not been properly registered and certificates of ownership have not been obtained. In every province the rules are different. Legal | [1]  Article 13 of the Constitution provides that “[c]itizens’ lawful private property is inviolable.  The state, in accordance with law, protects the rights of citizens to private property and to its inheritance.”[2], The current Constitution, which was adopted in 1982, has been amended four times—in 1988, 1993, 1999, and 2004. You can own a house or an apartment, on a 70-year lease, but not the land itself. [19]  The State Council is authorized by law to formulate the maximum periods for which land-use rights may be granted. External Link Disclaimer | (Urban Real Estate Law, arts. The content of all comments is released into the public domain (Assignment Regulations, art. While there are legal and financial obstacles to overcome, undocumented immigrants can, in fact, buy a house in the United States. [20]  Land-use rights may also be allocated for such purposes as government or military use, and urban infrastructure or public utilities use, for which the land users pay no fee or only compensation or resettlement expenses. At the Law Library of Congress, we have been asked many times about the law of the People’s Republic of China (PRC or China) on private property, such as whether individuals may privately own houses, or whether the law protects private property at all. Laws) 56. The Property Rights Law provides that registration of real property must be performed by the registration authorities at the place where the property is located. If … Again, the foreigners are banned from renting the property as you are supposed to use it for dwelling purposes. [4] Amendment to Constitution (2004) art. Individuals cannot privately own land in China but may obtain transferrable land-use rights for a number of years for a fee. [15]  The Urban Real Estate Law, which was enacted on August 30, 2007, addresses issues of real property in urban areas, including the transfer of land-use rights, real estate development, the sale of real estate, and real estate registration. 32.). To sell a property, local and foreign owners, including Hong Kong residents, are advised to assign a licensed estate agent to handle the transaction. Land-use rights may also be allocated (huabo), for which the land users pay no fee or only compensation or resettlement expenses, for such purposes as government or military use, and urban infrastructure or public utilities use. We further reserve the right, in our sole discretion, to remove a user's I have a question though: under the Property Rights Law (2007), property denotes ownership. Property drives the economy here, prices keep going up, it's a fantastic investment opportunity! At the end of the day, if the buyer is really interested in your property and if they do not speak a single word of English or your language, they will bring along a translator or a … [17], Individuals can, however, obtain the right to use land from the state.  The land-use right under the Property Rights Law is a “usufructuary right” that allows the right-holder, the usufructuary, to legally possess, use, and benefit from property owned by another. Donate Also most first time buyers would get financial help from parents. [23] Assignment Regulations, supra note 12, art. 10.) This makes Chinese real estate a depreciating asset. You’re allowed to buy one property, but need to either study or work in China for at least one year before that. October 2014; Updated July 2015. Exterior garden space with dragon head atop a wall at a temple in Shanghai, China by Norwood, Jean E., 1979. 12.). The Property Rights Law provides that “[i]ndividuals are entitled to enjoy ownership of such immovable and movable properties as their lawful incomes, houses/apartments, articles for daily use, tools of production, and raw materials.” (Property Rights Law, art. That being said, utilities are relatively inexpensive in China, and your bill will typically fall somewhere around ¥400 per month. The Library of Congress does not control the content posted. Official blog from the Law Library of Congress, March 2015 Report, (PDF, 126KB) (An update has been added below). Jobs | The law does not make it clear, however, whether the state would charge another granting fee at the time of renewal or how such a fee would be determined. Basically, there is a cultural and economical reason for this phenomena. But you have to pay that god dam property tax to government every fucking year to keep the house “yours”. (Urban Real Estate Law, art. Home Ownership Rate in China decreased to 89.68 percent in 2018 from 90 percent in 2014. According to the new Regulations, the Ministry of Land and Resources will guide and supervise the real estate registration system nationwide; local governments at and above the county level will designate real estate registries in their respective jurisdictions. Posted in: Law Library, Ask A Librarian, Global Law. Still, getting citizenship by buying a house in China is completely out of question. The short answer is yes, but there are some conditions to be able to do so. [13] Chengshi Fangdichan Guanli Fa [Law on the Administration of Urban Real Estate] (promulgated by the NPC Standing Committee, Aug. 30, 2007), Fagui Quanshu 3-370 (Urban Real Estate Law), English translation available at Westlaw China. 26. They don’t own property. Gratuitous links to sites are viewed as spam and But homeowners cannot own the dirt beneath their houses. While you can find them online and in some large stores, they'll be more expensive and your go-to brand may not be offered. The State Council is authorized by law to formulate the maximum periods for which land-use rights may be granted. [35], When real property is transferred, the change of ownership must be registered with the housing authorities; when the certification of home ownership is modified, the modification of the land-use rights must be registered with the land authorities, who issue a new or modified certificate of land-use rights. Can not rent it out, must live in it,. Based on data from Zoocasa, analyzing how much a prospective homebuyer would need to earn in order to qualify for a mortgage at the benchmark price in various locations across Canada, here's the income required to own a home in 13 of the country's … Home Ownership Rate in China averaged 89.89 percent from 2013 until 2018, reaching an all time high of 90 percent in 2014 and a record low of 89.68 percent in 2018. SHANGHAI -- China has relaxed rules on property sales to foreigners, in a move seen as aimed at boosting the country’s real estate sector amid a slowing economy. unless clearly stated otherwise. Price Less. This blog does not represent official Library of Congress communications and does not represent legal advice. When Chinese people say that they’ve bought a house what they really mean is that they leased it from the government for 70 years. 117. Pads are also a nuisance in China. That being said, utilities are relatively inexpensive in China, and your bill will typically fall somewhere around ¥400 per month. In 1990 May 19, the People’s Republic of China State Council Decree No. With an area of 9.6 million km2, the People’s Republic of China is the third largest country in the world with a wide variety of climates, landscapes and natural resources. [16] Urban Real Estate Law, Fagui Quanshu 3-370. Links to external Internet sites on Library of Congress Web pages do not constitute the Library's endorsement of the content of their Web sites or of their policies or products. The essential requirement is that you have studied or worked in China for at least one year on a residence permit. Under the current rules prescribed by the State Council, land may be used for residential purposes for up to seventy years; for industrial purposes for fifty years; for education, science, culture, public health, and physical education purposes for fifty years; and for commercial, tourist, and recreational purposes for forty years. Press | 16, 2007, effective Oct. 1, 2007), Fagui Quanshu 2-12 (Property Rights Law), English translation available at Westlaw China; Jianfu Chen, Chinese Law: Context and Transformation 374 (Martinus Nijhoff Publishers 2008). Inspector General | Legal | Accessibility | External Link Disclaimer | USA.gov, The Interim Regulations Concerning the Assignment and Transfer of the Right to Use State-Owned Land in Urban Areas [, The Law on the Administration of Urban Real Estate [. [28]  Real estate is transferred by sale, gift, or other legal means. Every plot of land is technically owned by the state and can only be bought on a leasehold basis for up to 70 years. The 2011 estimates by property analysts state that there are some 89 million empty properties and apartments in China, and that housing development in China is massively oversupplied and overvalued, and is a bubble waiting to burst with serious consequences in the future. [23], According to the 2007 Property Rights Law, when the term for the right to use land for residential purposes expires, the term will be automatically renewed. Unfortunately, regulations and laws under the Chinese […] I surly cant purchase commercial space at 1st floor and a panthouse on the 20th floor in the same building in NYC for $300k but I can in Ukraine. [24]  The law does not make it clear, however, whether the state would charge another granting fee at the time of renewal or how the fee would be determined.Â, Individuals can privately own real estate, including residential houses and apartments (i.e., buildings and structures on the land), although not the land on which the houses and apartments are situated.  Article 64 of the Property Rights Law provides that “[i]ndividuals are entitled to enjoy ownership of such immovable and movable properties as their lawful incomes, houses,[[25] articles for daily use, tools of production, and raw materials.”[26], The Assignment Regulations provide that land users may transfer their land-use rights to others through sale, exchange, or gift. Most landlords in China will require you to pay for your own electricity, water and gas bills, as well as cable and internet if you elect to have them. Also most first time buyers would get financial help from parents. You can see this pattern repeat itself in Taiwan, HK and where ), Xinbian Zhonghua Renmin Gongheguo Changyong Falü Fagui Quanshu (2014) (hereinafter Fagui Quanshu) 1, English translation available at Westlaw China (by subscription). In Beijing, all you need to do as a foreigner is to pay social security and taxes for at least 5 years before the government allows you to buy a house. Foreigners are allowed to only own one residential property for dwelling purposes. And as you have noticed also, house ownership is pretty much a prerequisite for marriage for most Chinese, this put an upward pressure on house price. Every plot of land is technically owned by the state and can only be bought on a leasehold basis for up to 70 years. The Assignment Regulations were promulgated in 1990 by the State Council, which regulates the assignment and transfer of land-use rights in urban areas. Normally you need to pay at least 1 year tax in that province and you as a foreigner are allowed to buy a house. Land users pay the state granting fees for a certain number of years for these land-use rights. Besides the fact that he or she must have the financial means to purchase it (banks will not lend money if you do not have a steady job in China for at least one year), the foreigner must have resided in China for at least one year at the time of purchase. The Chinese don't really care about it. may result in removed comments. [10] Tudi Guanli Fa [Law on Land Management] (promulgated by the NPC Standing Committee, June 25, 1986, revised Aug. 28, 2004), Westlaw China. The Chinese property law stipulates that foreigners can only buy one property at a time, but they either have to study or work in China for a full year before being able to do so. 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