Randy W Posted August 4, 2005 Report Share Posted August 4, 2005 (edited) I am amazed at how I just have to keep on learning about China and it's ways.0„2 My wife and I were talking about our home in China recently, and she said "you know that we can only own it for 70 years don't you?"0„2 I have always been proud of the fact that we own a fully paid for home with no yearly property taxes.0„2 Now I find out that the ownership expires in 70 years.0„2 It looks like you, or whoever you sell it to can only live there/own it for 70 years.0„2 If you own it for 30 years and sell it, then you are selling the remainder of the 70 year period-in this example-40 years.0„2 Sure does add another dimension to the situation.120485[/snapback] This is called a lease I kind of suspect that a lot of Chinese people mean this when they say "own" Edited August 4, 2005 by Randy W (see edit history) Link to comment
Dan R Posted August 4, 2005 Report Share Posted August 4, 2005 This is lease hold which I explained earlier. It is similar to what Hawaii had for decades. In China the government owns most land. That doesn't stop real estate from appreciating where there is demand. Link to comment
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