I guess we’ve missed our chance to invest in Beijing real estate.
The Chinese government is putting the skids on a wild exciting market because of inflation fears.
From now on the rules are you will have had to live in China for a year working or studying. You won’t be able to retire there.
And if you are able to buy in Beijing, you won’t be able to [tag-cat]rent[/tag-cat] out your [tag-ice]property[/tag-ice].
We don’t know if all these stringent restrictions will apply to the whole country yet but for now it’s hands off Beijing.
Plus developers will now have to pay a value-added [tag-cat]tax[/tag-cat] of up to 60 percent on new projects. Ouch.
And no more luxury housing for now. The government is only allowing low-income [tag-tec]housing[/tag-tec] because of the shortage.
Well, all I can say is they’re still new at such capitalist syles of investing. The communist government has only been allowing Chinese families to buy homes since the 90’s. But they do have one Western tradition down pretty well. High taxation.