Buying in China?

[Riviera]

I was in Zhongshan mainland China on Thursday and visiting a business contact, he showed me his apartment, modern 4 bedroom in a peaceful garden setting away from the manufacturing areas. He pays $300 aud a month to rent but is thinking of purchasing as you can do so for $60000 usd. The apartment complex is 80% vacant but with the build of a high speed train system to the area from Hong Kong under way, a 2 hour ferry/car ride will drop to 1/2 hour train trip he predicts apartment prices will sky rocket.
Was wondering if anyone had looked into buying in China?

[Wayne]

When I think of the differances between freedoms between NZ and China I get very nervous. China would think little of nationalizing your property in much the same way as Fonterra lost out with SanLu.

[nintiger]

Need to careful balance the risk and return. It's better to understand the policy and culture first.

[Dean@Massiveaction]

There is also an issue of non residents owning property there. The government changed the rules about 2 years ago from memory. I'm not sure whether you can buy at all or whether it has to be jointly owned with a local. I had an associate who sold millions of dollars of apartments to kiwi's and Ozzies, his busines vanished overnight.

[tanmedia1]

I'm in Shanghai right now and flipping through the classifieds for expats, the rents asked for are phenomenal. USD2000 per month for an apartment seems to be the entry level. There seems to be no shortage of stock aimed at the expat. The residential construction here has to be seen to be believed, but I believe that prices are at least 30% down from their peaks in Shanghai.

[Dean@Massiveaction]

And do you know what the deal is with foreign ownership Tan?

[Dunning]

Hear about this?

http://www.neatorama.com/2007/03/12/...-building-row/

http://news.bbc.co.uk/2/hi/asia-pacific/6520317.stm

[tanmedia1]

And do you know what the deal is with foreign ownership Tan?

Sorry Dean, I don't know. I'd imagine there would be a number of "murky" hoops to jump through, and I doubt you're going to get the deal you'd get in NZ. The rents are probably so high becuase the Chinese know that foreign companies need to have a presence here, and they'll know too well that the companies will sink the cost as a taxable expense.

[speights boy]

When I think of the differances between freedoms between NZ and China I get very nervous.

You are wise to remain cautious, Wayne.

Father of 'toxic milk' child jailed in China for protesting

A man whose five-year-old son was poisoned during China's toxic milk crisis has been jailed for two-and-a-half years after he set up a website to warn other parents about the disease.

http://www.telegraph.co.uk/news/worl...rotesting.html

[speights boy]

China Limits Property Purchases By Foreigners

China announced new limits on the ability of foreigners to buy residential or commercial property on the mainland, in its latest effort to curb the inflows of speculative money into its economy and ease inflationary pressure.

http://online.wsj.com/article/SB1000...546998222.html