pkroger Posted April 18, 2005 Report Share Posted April 18, 2005 Has anyone here bought a house or condo in China? If so, did you encounter difficulties because you were not a Chinese citizen? Did you get financing through a Chinese bank? Thanks for the info. Peter Link to comment
Guest blsqueaky Posted April 18, 2005 Report Share Posted April 18, 2005 I am in the process right now, looking at a condo in the skirts of GZ, called emeraled gardens. She tells me that is we have the 10%, then no problem. We will see next visit when I talk to the bank Link to comment
rogerluli Posted April 18, 2005 Report Share Posted April 18, 2005 We looked at condos around GZ last fall. We went to Clifford Estates and a new high rise development. Prices were around $50-$80K USD. But real estate has gone up in value tremendously in the last years. If China does not attain the hoped for "soft landing" of its economy then I fear housing prices will plummet... Link to comment
Dan R Posted April 19, 2005 Report Share Posted April 19, 2005 The difference between Japan, U.S. and China is tthat the Chinese economy is tighter controlled by the government. Brakes have been applied to slow construction that would lead to over supply. While we may not see the increases that have occurred over the past ten years in real estate, I doubt it will drop much. On the other hand a dispute with Japan or the U.S. could reduce trade causing a recession. California is now leveling off after rapid price increases. While in China most homes are prepaid or short term loans so in troubled times the owner can hold on to them, in California the last boom was supported by "creative" financing. Mostly this means that the owners must find new loans in five years or face ballooning costs. I expect to find good discounts here in the next 2-3 years. Link to comment
James Posted April 19, 2005 Report Share Posted April 19, 2005 When you take a look at a Chinese city's skyline and notice how many new high-rises are going up, and you think about how out of reach these residences are to the average Chinese consumer because of price ... it makes me wonder if a lot of these might sit empty. Link to comment
jgrier5 Posted April 19, 2005 Report Share Posted April 19, 2005 I want to buy some beach front property in Sanya...oooo Link to comment
rogerluli Posted April 19, 2005 Report Share Posted April 19, 2005 I want to buy some beach front property in Sanya...ooooYeah we vacationed there but being realistic that would be pretty pricey or impossible more likely. Also my SO informs me we really can't think of single family free standing houses like we do here. Because of...SECURITY... Link to comment
Dan R Posted April 19, 2005 Report Share Posted April 19, 2005 That's ok J you can have a row house facing the beach. We saw a number of new ones like that. She likes those. Myself I like living in town where I can go downstairs and do the shopping and people watching. I want to sit next to the sidewalk and be one of the neighborhood characters. Link to comment
rogerluli Posted April 19, 2005 Report Share Posted April 19, 2005 That's ok J you can have a row house facing the beach. We saw a number of new ones like that. She likes those. Myself I like living in town where I can go downstairs and do the shopping and people watching. I want to sit next to the sidewalk and be one of the neighborhood characters.Dan we're all set my man. That bench in Foshan I told you about. The most beautiful women in China walking by all day... Look but no touch... Link to comment
Dan R Posted April 19, 2005 Report Share Posted April 19, 2005 That's ok J you can have a row house facing the beach. We saw a number of new ones like that. She likes those. Myself I like living in town where I can go downstairs and do the shopping and people watching. I want to sit next to the sidewalk and be one of the neighborhood characters.Dan we're all set my man. That bench in Foshan I told you about. The most beautiful women in China walking by all day... Look but no touch... Yup, the life of Rielly ( you remember that William Bendix character on TV a few years back). Link to comment
rogerluli Posted April 19, 2005 Report Share Posted April 19, 2005 That's ok J you can have a row house facing the beach. We saw a number of new ones like that. She likes those. Myself I like living in town where I can go downstairs and do the shopping and people watching. I want to sit next to the sidewalk and be one of the neighborhood characters.Dan we're all set my man. That bench in Foshan I told you about. The most beautiful women in China walking by all day... Look but no touch... Yup, the life of Rielly ( you remember that William Bendix character on TV a few years back).1953-1958 was more than a few years back Dan unless we're talking geologic time... isn't google great... Link to comment
Dan R Posted April 19, 2005 Report Share Posted April 19, 2005 Yup our SO's wont even know when our memories are gone, we'll just google Link to comment
oregonknl Posted April 21, 2005 Report Share Posted April 21, 2005 Well, As I posted here a while back, probably late Dec. After our Sanya trip... would definately not recommend investment in Sanya, or any second residence resort market in China... I view Sanya as particularly at risk, because for most of the year, the vacancy rate is extremely high. Huge number of investors from the north are, in my opinion, blowing up the bubble, but they aren't using (or renting) the property.... just view it as the Golden Goose.... Classic set up for the Big Fall.... Link to comment
rogerluli Posted April 21, 2005 Report Share Posted April 21, 2005 Well, As I posted here a while back, probably late Dec. After our Sanya trip... would definately not recommend investment in Sanya, or any second residence resort market in China... I view Sanya as particularly at risk, because for most of the year, the vacancy rate is extremely high. Huge number of investors from the north are, in my opinion, blowing up the bubble, but they aren't using (or renting) the property.... just view it as the Golden Goose.... Classic set up for the Big Fall....I agree completely with this. I think real estate in all of China is riding an asset bubble right now and certainly the highest price and second house categories are set to fall the most. But when and how? Bubbles can last for a very long time, and in the end we're all dead anyway... Link to comment
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