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Front Page of the Day
China imposes restrictions on home purchase by foreignersPosted by Eric Mu on Tuesday, November 16, 2010 at 10:42 AM
 The Beijing News, November 16, 2010 According to a new rule issued by Ministry of Housing and Urban-Rural Development (MHURD) on November 15th, each foreign national who has been living and working in China for more than one year is allowed to buy no more than one home in mainland China. Overseas institutions can only buy non-residential properties in cities where they were registered. Unlike the past regional regulations, this new policy is implemented across the nation, which means if one already has a house in Shanghai, he / she will not be allowed to buy a second home in Beijing. According to Beijing News, there were about 2,000 homes sold to foreigners in Beijing last year. According to MHURD, the regulation is intended to "counter the effect of international hot money pouring into mainland Chinese real estate market and to cater to the domestic demand." The big headline today announces that now one can go to the Public Security Bureau and check another individual's residential information if consent from the second person has been obtained. The big image shows a 28-story building on fire. 53 people were already dead, and a lot more were injured. Links and Sources
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Comments on China imposes restrictions on home purchase by foreigners
Sounds great. But I got say: "Too soon?"
;)
Does it mention homes from inheritance? There are a lot of Chinese-born foreigners whose parents are Chinese citizens, and own multiple properties in China. Would that be a problem?
I was told that the restriction was even more severe than this: foreigners are only allowed to buy one house ever (even if you sell it, you can't buy another one). Does anyone know if that's really true? It sounds unlikely to me, but China does have some pretty strange laws.
Because foreigners are the root cause of all China's problems. Not speculating, corrupt party officials and their cohorts in the property development industry.
Wonder how many properties "Winston" Wu owns in the West???
I think this is a good idea looking at China is the largest country in population. This might give the country little "space". Good luck for the regulations...