about chinese real estate

[Dan R]

I am interested in a place in China but at this point it would be putting the cart before the horse. I'll work on the Zhongwen first and continue lining up a good semiretirement position there.

 

Darn Roger, you are so taken by this real estate stuff you haven't harassed Trigg in hours.

[rogerluli]

I am interested in a place in China but at this point it would be putting the cart before the horse. I'll work on the Zhongwen first and continue lining up a good semiretirement position there.

 

Darn Roger, you are so taken by this real estate stuff you haven't harassed Trigg in hours.

I'm trying to give the old duffer a rest Dan. You know he's not in the best of shape and chasing down sheep is really tiring for him...

 

He has to 'shepherd' his energy...

[Dan R]

I am interested in a place in China but at this point it would be putting the cart before the horse. I'll work on the Zhongwen first and continue lining up a good semiretirement position there.

 

Darn Roger, you are so taken by this real estate stuff you haven't harassed Trigg in hours.

I'm trying to give the old duffer a rest Dan. You know he's not in the best of shape and chasing down sheep is really tiring for him...

 

He has to 'shepherd' his energy...

Gee Roger you're all heart!

 

Don't forget that video rental "Coming to America". If you put it off to the weekend you will wish you hadn't. If you don't roll on the floor laughing I'll want to know why. Oh be sure to pick up the Jumbo French Fries Flavored Cheeto bag, when you get the movie, for snacking.

[rogerluli]

I am interested in a place in China but at this point it would be putting the cart before the horse. I'll work on the Zhongwen first and continue lining up a good semiretirement position there.

 

Darn Roger, you are so taken by this real estate stuff you haven't harassed Trigg in hours.

I'm trying to give the old duffer a rest Dan. You know he's not in the best of shape and chasing down sheep is really tiring for him...

 

He has to 'shepherd' his energy...

Gee Roger you're all heart!

 

Don't forget that video rental "Coming to America". If you put it off to the weekend you will wish you hadn't. If you don't roll on the floor laughing I'll want to know why. Oh be sure to pick up the Jumbo French Fries Flavored Cheeto bag, when you get the movie, for snacking.

I bought an 11 DVD set of Laurel & Hardy, with Chinese subtitles. Can't wait to watch those with Lu Li. Of course men are such simple creatures we laugh our a**es off at silly stuff like that while women, being such superior beings, just don't get it?...

[Guest blsqueaky]

My next step is to have her talk to her brother in law, and find out some more, since he and his father own, and I will let everyone know. Maybe this is something that Don can pin in Links

[Dan R]

Don't get Stan Laurel? One of the greatest comedienes of all time. A man who with one twitch could express the pathos of mankind.

 

I also liked Edward Everett Horton and Buster Keaton.

[rogerluli]

My next step is to have her talk to her brother in law, and find out some more, since he and his father own, and I will let everyone know. Maybe this is something that Don can pin in Links

That would be great Mark. Then we could add info as we find it out.

[Larry & Meirong]

My wife has a home we own in a city in China. She says there are no taxes on the home, like we have here in the USA. Some of you are talking about taxes on homes in China. Wonder which is correct. She says there are taxes on the home when you buy it, but there are no taxes after that.

[ed and ying]

Not sure where this post is headed. Just FYI. Ying rents apartment in Beijing-Chaoyang for 1000 RMB a month - 2 rooms plus kitchen and bathroom. It's not fancy. I stay there when I visit - I could live there for rest of my life - but it would be a change to what I think is usual

[rogerluli]

My wife has a home we own in a city in China. She says there are no taxes on the home, like we have here in the USA. Some of you are talking about taxes on homes in China. Wonder which is correct. She says there are taxes on the home when you buy it, but there are no taxes after that.

This is a great example of how little we know about almost everything involved in living in China. This was also my understanding from my SO, that there are no yearly taxes on a house, but then someone said that there were taxes and they were higher for foreigners.

[BuffaloPaul]

We have the opposite problem. My SO wants to sell her home in Ningbo. Ningbo is a very modern city and the home is on the second floor of a nice high rise community. 3 BR brand new kitchen 2 BA - american style. Asking 1M yaun. Doesn't seem to be a good MLS system there, so not sure how she will sell before she leaves for US. She has no relatives in that area so renting it out is not an option. Anyone interested PM me

[michelle2008]

like in the usa, different cities in china have different prices for real estate. in some cities like shanghai and beijing, the monthly rental for a 2 bdr apartment could be 2000-3000 or even more. in some cities they vary from 300-800.

real estate in china is really the fastest growing industry. citizens could benefit a lot and make profit by buying and selling homes in a few years. taking an example of my 2 apts (or condos) in beijing, the one my company assigned to me as wellfare cost only 72.000 yuan. after being merchandized, the market price became 270,000 yuan in 2001. since the american embassy and other embassies will move to that area, it became 370,000 today. fortunately, i didn't sell it in jan. this year. someone wanted to pay 350,000 for that.

one of the reasons why i think so is in the past, no one owned real state in china. though there are someone like me who have bought some real estate in china, the rest is a large proportion. differing from the usa, city planning and enforcement is much faster than it is in the usa. and there is big difference between the living standard in china's cities and that in its country. therefore, a lot of people living in the country may want to buy a home in the city, too. they become another force to buy real estate in cities.

personally, i don't think the prices will go down in 1 or 2 years.

if you sell it before the price goes down, the buyer will pay for the mortgage. the bank won't even know it.

[rogerluli]

We have the opposite problem. My SO wants to sell her home in Ningbo. Ningbo is a very modern city and the home is on the second floor of a nice high rise community. 3 BR brand new kitchen 2 BA - american style. Asking 1M yaun. Doesn't seem to be a good MLS system there, so not sure how she will sell before she leaves for US. She has no relatives in that area so renting it out is not an option. Anyone interested PM me

Jenny must know the facts on taxes Paul. Are there annual property taxes or only taxes when a property is sold ?

 

I know nothing about Ningbo but we looked at some places last year in GZ. The fanciest was on the top (15th) floor of a new development in the suburbs. Total security with guards and locked doors everywhere. A big balcony overlooking a highly polluted arm of the Pearl River.I think it also was a 3 Br, 2 Ba for 600,000 RMB. Some condos in low rise buildings , not as fancy, were 400,000 RMB. Now Lu Li has been looking in her hometown in Hunan while she is there and what she likes there is 300,000 RMB.

[frank1538]

I expect that this year or next the RMB will be revalued against the $.  This should greatly affect RE prices if you are changing $ to RMB to buy the place.

This is an excellent point, although whether and to what extent the yuan will be revalued is sure to be one of the most politically and economically charged issues in the coming years.

 

Current estimates suggest that a proper revaluation of the yuan would have to increase its value 15% - 40%, meaning it would take 15% - 40% more dollars to get the current equivalent in yuan. A couple of years ago, the "Big Mac Index" (the cost of a Big Mac in China vs. the US) puts it at +50%

 

http://news1.iwon.com/odd/article/id/32114...24;reuters.html

 

For those retiring to China after a revaluation, the cost of living would have gone up, as would the cost of buying anyting (assuming you would be converting dollars to yuan at the time of purchase).

 

The flip side, of course, is that a purchase now at the current exchange rates would benefit from the revaluation if you were to sell after the revaluation and convert the yuan to dollars.

[Larry & Meirong]

Our goal is to spend time in China after I retire, if not full time, a good part of the year. I still have not been able to find out how much time I can spend in China as a husband of a Chinese woman. Anybody know anything about that? Also, can she add my name to her deed on her home? I am so looking forward to that time, to travel in China, Tibet, and SE Asia. I figure that by then the US will have become totally unacceptable, unlivable by then due to the fascist, subversive, criminal elements in the congress and executive branch.