Beijing Lifts Restrictions for Foreigners Buying Real Estate

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Jan. 26 – The Beijing government has lifted restrictions on foreigners wanting to purchase real estate in an effort to lift the slumping property market.

For this year, the residency requirement and house type limits that applies for foreign expatriates have been removed. Previously, only expatriates that have resided in the capital for more than a year and prove that they will be the primary users could buy real estate.

In 2008, purchases of floor space in commercial residential buildings plunged 40 percent compared to last year.