China Real Estate

FAQs on buying property in Shanghai, China

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[NOTE, this is an old article written by Jason Tian back in 2009 based on his experience in helping foreigners in Shanghai purchase their homes here. Unfortunately, this article has been plagiarized by some other Chinese lawyers in Shanghai.Here this article is updated pursuant to new development after 2009. Please also take note that I am not encouraging

Shanghai unveils its new curbing measures for the property market

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With the view to standing in line with central government with respect to stabilizing property market, Shanghai government unveiled its rules in implementing the order issued by China cabinet on Feb 26 this year.

The main points of the Shanghai Rules are as follows:

(1) Shanghai focuses much on the banking credit policies. It asks its subordinate departments…

China to enforce the 20% individual income tax rate on property sale

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Apparently China central government is seeing a clear uprise of property prices throughout the country.

Just today, China state council issued a new notice ordering its subordinate governments to implement seriously the existing policies that are aimed to rein in the property market, and meanwhile, stepping up a new measure of cooling policy, namely, enforcing…

Using rural lands for industrial activities in Shanghai,China

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A client came to me with a question regarding the use of a rural land in the suburbs of Shanghai.

The client has set up a wholly foreign-owned company in the outskirts of Shanghai back in 2001, engaged in industrial manufacturing activities. Instead of obtaining the state-owned land use right, the WFOE ventured to take up a site with existing building and facilities.…

China real estate investment:buy cultural and historical houses

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I ran across a piece of news on www.Ifeng.com telling a story of a couple from Singapore purchasing a historical house in Shaoxing City, Zhejiang Province, China, that is adjacent to the “Baicao Garden” depicted in the literature by the famous historic writer, Lu Xun.

The house was built a century ago by a noble family whose line of descendants runs…

Should the couple both sign the contract for sale and purchase of the property?

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In China, properties, personal or real, acquired during marriage are statutorily prescribed to be community property of the couple even though only the name of one spouse is registered as owner on the relevant title deeds or ownership certificates. Being community property in the case of real property such as apartment, houses, condo, office and other commercial…

An irrevocable power of attorney? What does it mean under Chinese laws?

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A power of attorney, POA, is used widely in any jurisdiction in many circumstances where one individual entrust another individual to speak and act in his name or on his behalf and protect their best interests.

As I represent foreign clients in most cases, clients often raise the issue of revocability of power of attorney they are going to grant to me. Recently,…

property price in Wenzhou dropped 40%

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News on ifeng.com had it that property prices in Wenzhou have seen a 40% drop off its peak prices in the year of 2010.

Wenzhou is a special place in China’s economic landscape boasting its big population of enterpreneurs in the city. The local affluence and fortunes have found easy expression in the local property prices that may easily dwarf or belittle…

Sell China property, but not just about sale

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I am representing two clients in selling their properties in Shanghai, China. It seemed that people are losing confidence in China property market, a sign that the growth of Chinese economy in a whole is slowing down to a lackluster rate.

Foreigners may be more worried about their holding of properties in China as they are often alarmed by western media about …

real estate mortgage/hypothecation/guarantee in China

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Recently, a foreign trading company importing a production line from a manufacturer in Shanghai inquired about what should be considered when accepting a contract performance guarantee in the form of real property hypothecation provided by the Chinese exporter which offered to collateralize its buildings and underlying land to guarantee the production…

Another meaningful victory against Shanghai local government in respect of inheritance of garden villa on allocated land

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A few months ago, I was approached by one of the offspring of Sun Yat Sen, the founder of the Republic of China, for his trouble in inheriting a garden villa located in Xuhui district in Shanghai China. The trouble is that he and other heirs to the estate garden villa are required by local land administration to pay a big sum of land grant fee for the land underlying …

Move Money and Property Out of China

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Moving money, assets and property out of China is quite a sensitive matter in China, though such moves take place every day across the Chinese borders. It is a known secret that a bulk of the money so moved is illegal proceeds generated by corrupt officials and their cronies. While we see a great deal of illegal transfer across the border, for ordinary people, moving…

A frequent question about inheriting real estate in China

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When it comes to inheriting real estate in China, things often get more complicated than inheritance of personal property such as bank deposits.

For example, in the current inheritance matter I am handling on behalf of an American client, there are four heirs  that are entitled to take a share of the estate property. The parties are in dispute regarding what…

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