Foreigners to buy a house in China

By the State Council, Ministry of Construction, Ministry of Commerce, Development and Reform Commission, the People's Bank of Commerce and Industry Office, the Exchange Bureau jointly issued the "Regulations on foreign investment norms in the real estate market and management of access." "Opinions" clear the foreign investment norms in real estate market access, foreign-invested enterprises in real estate development management, institutions and individuals outside the strict management and purchase of specific measures. These include: institutions and individuals outside the strict management of the purchase, the provisions of foreign institutions to establish branches in the territory, on behalf of institutions, individuals outside the territory of work, study more than one year, can be purchased to meet the actual needs of their own, owner-occupied housing , regulate the institutions and individuals outside the formalities of purchase. Disease for the first quarter of foreign investment 4.5 billion U.S. dollars to buy a house A week in the industry has been the policy of restrictions on foreign real estate, finally officially confirmed yesterday. Turmoil in the regulation and control to revert back to real estate outside the capital, to meet the Ministry of Construction, Ministry of Commerce, National Development and Reform Commission, the central bank, the State Administration for Industry and Commerce, the State Administration of Foreign Exchange jointly comprehensive "filter." From foreign investment, development and operation of the territory of real estate, real estate, such as the purchase of three, the six sectors for foreign capital entering the formal property market overall, "based card." ■ ■ policy focus: ● foreign buyers must be the real-name system ● did not stay for one year shall not purchase Xinhua News Agency yesterday announced that approval of the State Council, the Ministry of Construction and other six departments jointly issued the "Regulations on foreign investment norms in the real estate market and management of access." In fact, the "Opinions" The full text of the previous week had been quietly in the industry-proliferation. "Opinion" the most eye-catching policies, foreign buyers, "real name system" policy. Only in China to set up branches, representative offices of foreign institutions and in the territory of work, study more than one year can be purchased outside of talents to meet the actual needs of their own, owner-occupied housing. Softbank Capital and Investment Corporation of Hong Kong business days satisfied Wen, president of analysis, "based card" to raise the threshold, the purpose is not allowed to come to China to buy a house outside, but those who want to keep strong and hope to hold property long-term foreign capital, filter out those who do not have a strong strength to invest for the purpose of speculation speculative arbitrage capital, to avoid huge amounts of foreign capital abnormal "快进快出." Beijing, Shanghai is now focusing on real estate has attracted more than九成foreign investment policy restrictions introduced the background, is more than two years of foreign investment in China to "over-enthusiasm" of the violent expansion. Official figures disclosed for the first time, has experienced explosive last year's purchase this year, foreign investment in real estate growth is still rapid. The first quarter of this year alone, foreign investment in China to buy the building funds of up to 4.5 billion U.S. dollars, more than last year. ■ ■ Implementation is still waiting for details of Wan satisfied that "the housing market is the most important part of the property market, the new restrictions will reduce their impact on the local property market, in order to cool down the overheated real estate in some areas." A member of the International Monetary Fund, there are more than 130 member countries to enter the real estate market to foreign investment has severely restricted. However, the latest regulation and control of China's real estate a "token" public opinion, there are still many difficulties in implementation, such as real-name system is still a bit vague, if looking for outside funds to purchase the territory, it should be how to effectively manage? Since the definition of housing? These and other related departments need to introduce further rules to be clear. Foreign speculators have been the focus of the three path be "looked after" Foreign real estate investment ● access restrictions: foreign investment in real estate must be established in the territory of enterprises, by business sector and the business sector issued by the approval of a one-year certificate and business license in order to invest in non-occupied real estate; ● capital constraints: a total investment of more than 10 million U.S. dollars (inclusive), the registered capital shall not be less than 50% of total investment; ● transfer, M & A restrictions: the transfer of equity and projects, the territory of foreign investors in real estate mergers and acquisitions business, must be approval by the business sector. Foreign real estate development ● three types of enterprises of foreign exchange loans approved settlement: registered capital not fully paid, not to obtain "state-owned land use certificate", or development projects failed to meet the capital investment of 35% of the total, domestic and foreign loans shall be handled, Foreign Exchange Management Department does not approve borrowing of foreign exchange settlement; ● the terms of the contract norms: foreign-invested enterprises and foreign investment in real estate the parties shall not in any way in contract, statute, equity transfer agreement and other documents to ensure that any of the parties entered into a fixed return or disguise the terms of a fixed return. Foreign institutions and individuals purchase ● eligibility restrictions: Only foreign institutions to set up a branch in the territory, on behalf of institutions (except for room rate) and in the territory of work, study more than a year to individuals, with the purchase of their own to meet the actual needs, the eligibility of owner-occupied housing, are prohibited from buying non - owner-occupied housing; ● circumvent "to buy more than one person suites": the purchase of the real-name system must be taken. First of all, experts have pointed out that the property market to strict regulation and control of land transactions trial Sent a lot of heated discussions about the related topic of foreign real estate, Beijing University China Center for Economic Research徐滇庆yesterday, part-time professor pointed out that restrictions on foreign real estate is the focus of current policy, but adjust the local government's land policy and strict review of land transactions and more regulation and control should be the most important real estate. China's hot real estate industry, in recent years have not only attracted the enthusiasm of domestic capital investment, Merrill Lynch, Citigroup, Goldman Sachs these叱咤international capital market speculators, but also in China have accelerated the pace of the real estate market. "China's foreign investment in real estate to open the door very small, but China has the real estate bubble from Thailand to a lot of experience in secondary schools, there are many measures to manage, we do not get too excited about this."徐滇庆said. Just yesterday, the Ministry of Construction has just six sectors for foreign investments into China jointly made clear the real estate market norms. Comment on this徐滇庆is that "the recent pace of foreign investment is indeed fast, how to carry out foreign investment in effective supervision is the focus of the present, but foreign investment in Chinese real estate real estate a total investment of less than 5 %, the public do not have to get too excited about. " "Land resources are limited," "housing shortage" is the introduction of restrictions on foreign real estate direct cause of the policy. And徐滇庆believe that the Government's land policy should be the most important real estate regulation. "If land policy is in full accordance with the market price for public auction, it is certain that there are too many luxury residential high-profit. This is extremely detrimental to the ordinary people's."徐滇庆the view that the Government should take into account when formulating policies in the actual situation of low-income people and strict review of land transactions, "by increasing the small size, the ability of low-income people buy houses, so as to fundamentally change the prevalence of high-end residential market reality."