Comments on: Beijing Cuts Tax and Mortgage Rates to Boost Real Estate Market http://www.china-briefing.com/news/2008/10/23/beijing-cuts-tax-and-mortgage-rates-to-boost-real-estate-market.html Fri, 10 Feb 2012 06:20:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Edwin http://www.china-briefing.com/news/2008/10/23/beijing-cuts-tax-and-mortgage-rates-to-boost-real-estate-market.html/comment-page-1#comment-23374 Edwin Fri, 31 Oct 2008 09:18:08 +0000 http://www.china-briefing.com/news/2008/10/23/beijing-cuts-tax-and-mortgage-rates-to-boost-real-estate-market.html#comment-23374 Mind that cities have different regulations! In Shanghai you can buy new or 2nd hand property with 40% cash and 60% mortgage. They also offered 70% mortgage this summer. Shanghai banks are more free in their decisions. Some cities (as Nanjing) take a higher cash payment of 50%. And banks put their own value on property, normally way lower than the asking price, so you can only get 50 or 60% mortgage on THEIR valuation price! Cheers. Edwin Mind that cities have different regulations!

In Shanghai you can buy new or 2nd hand property with 40% cash and 60% mortgage. They also offered 70% mortgage this summer.
Shanghai banks are more free in their decisions.

Some cities (as Nanjing) take a higher cash payment of 50%. And banks put their own value on property, normally way lower than the asking price, so you can only get 50 or 60% mortgage on THEIR valuation price!

Cheers. Edwin

]]> By: Basti http://www.china-briefing.com/news/2008/10/23/beijing-cuts-tax-and-mortgage-rates-to-boost-real-estate-market.html/comment-page-1#comment-23372 Basti Thu, 30 Oct 2008 09:25:32 +0000 http://www.china-briefing.com/news/2008/10/23/beijing-cuts-tax-and-mortgage-rates-to-boost-real-estate-market.html#comment-23372 Do you know whether they rules and regulations for foreigners wishing to buy a property have been changed? As far as I know, foreigners still need to put down 100% of the price and need to have lived for five years in China before being eligible to buy housing. Do you know whether they rules and regulations for foreigners wishing to buy a property have been changed? As far as I know, foreigners still need to put down 100% of the price and need to have lived for five years in China before being eligible to buy housing.

]]>