China (CN)
China is one of the world's largest economies and most important expat destinations, combining global business hubs such as Shanghai, Beijing, Shenzhen, Guangzhou, and Hangzhou with deep history, fast infrastructure, and a highly digital daily-life ecosystem.
Buying Property in China
The full buying process, transaction costs, mortgage, and legal requirements.
Foreigners can buy residential property in China only under restrictions, usually after living/working or studying in China for a period and only for self-use. Local city rules are decisive, and policy can differ not only between Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Suzhou, and Chengdu, but also by district, family status, mortgage bank, and whether the property is new-build or existing stock.
Rent vs. Buy
Most expats rent. Buying is complex, illiquid, policy-sensitive, and rarely sensible for short assignments. Consider currency controls, resale restrictions, tax, school-district uncertainty, maintenance, exit planning, and market risk. If your China stay depends on one employer or one school placement, buying can turn a career or family change into a hard-to-unwind property problem.
Buying Process — Step by Step
Confirm eligibility
1-4 weeksCheck city foreign-buyer rules, residence history, work/study status, family status, purchase limits, social insurance or tax-record requirements, and whether a foreign spouse changes the analysis.
Mortgage pre-check
1-3 weeksAsk banks whether they lend to foreigners and what down payment, income, tax-paid certificate, marriage document, credit, and employment documents are needed.
Due diligence
2-6 weeksVerify title, seller identity, mortgage liens, property use, school-district claims, tax history, occupancy, unpaid management fees, maintenance fund, and whether any family member or creditor must consent.
Sign sale contract
1 weekUse bilingual legal review; pay deposit only through agreed safe channels. Confirm default clauses, refund conditions, tax allocation, mortgage contingency, handover standard, and the Chinese text because it will control.
Tax and registration
2-8 weeksPay deed tax and fees, complete transfer at real estate registration centre, and keep official receipts and registration extracts for future resale or remittance.
Foreign exchange and source-of-funds review
2-8 weeksIf bringing money into China, confirm bank documentation, SAFE rules, relationship between buyer and remitter, and whether funds must enter under the buyer name.
School-district verification
1-3 weeksIf buying for school access, verify the current education bureau policy, property-use history, household registration assumptions, and whether foreign children are eligible.
Final handover and utilities transfer
1-3 daysRecord meters, property management fees, repair fund status, keys, access cards, parking rights, and any furniture/appliance inclusions.
Transaction Costs
| Cost Item | Amount | Notes |
|---|---|---|
| Down payment | Often 30%+ and higher for second homes or restricted cities | Foreign buyer mortgage access is stricter. |
| Deed tax | Typically 3-5% in major cities (Beijing, Shanghai, Shenzhen, Guangzhou); may be 1% for qualifying first-home purchases under 90m² | September 2025 SAFE reform removed some foreign exchange restrictions on residential property purchases. |
| Agent fee | Often 1-2.7% depending city and agency | — |
| Legal/translation review | RMB 5,000-30,000+ | — |
| Registration and miscellaneous fees | Usually modest government fees plus bank/valuation costs | Keep the receipts; banks may ask for them when converting or remitting sale proceeds later. |
| Maintenance fund | New-build buyers may pay a public maintenance fund | Amount depends on city, project, and floor area. |
| Property management fee | RMB 2-20+/sqm/month | Luxury compounds and serviced residences can be much higher. |
| Parking space | Can be rented or purchased separately | In major cities parking rights can be expensive and legally distinct from the apartment. |
| Currency conversion/remittance costs | Bank spread and transfer fees vary | Documentation burden matters more than the fee itself. |
| Renovation/furnishing | RMB 1,500-8,000+/sqm depending standard | Many new-builds are delivered bare or with developer-standard fit-out. Confirm whether structural changes, balcony enclosures, gas work, and wet-room moves are legal in the compound. |
| Legal/tax second opinion | RMB 5,000-50,000+ depending complexity | Worth considering if the buyer is foreign, funds come from abroad, there is a mixed-nationality marriage, or the purchase is tied to school access. |
| Exit costs | Agent fee, taxes, mortgage release, bank conversion, moving, and document fees | Plan these before purchase; expats often focus on buying but underestimate selling and remitting. |
The Notary — Mandatory for All Purchases
China does not use notaries like civil-law European conveyancing for every sale. Real estate registration centres, agents, banks, and lawyers handle different parts; notarisation may be needed for powers of attorney or foreign documents.
Mortgage
Mortgages for foreigners exist but are not automatic. Banks require stable China income, residence documents, marital documents, tax records, and local eligibility. Branches may also ask for Chinese translations, employer letters, proof the property is for self-use, and evidence that down-payment funds entered China legally.
30-50%+ depending city, buyer status, and bank policy.
Some cities require foreigners to have worked or studied locally for at least one year and buy only one self-use residential property. Banks can be stricter than the legal rule, especially where income is paid offshore, the residence permit is short, the passport is near expiry, or the buyer has no China credit history.
Land Registry
Property rights are registered through local real estate registration centres. China has land-use rights rather than freehold land ownership in the Western sense.
Taxes
Deed tax, VAT/surcharges for certain seller situations, individual income tax on gains, stamp taxes/fees, and property-related local charges can apply. The tax cost depends on whether the seller has held the property long enough for preferential treatment, whether it is treated as ordinary residential property, and local policy at signing. Buyers should ask the agent for a written tax estimate and have it checked independently.
New Build vs. Existing Property
New builds carry developer delivery risk, unfinished-project risk, and policy risk; existing homes allow inspection but require careful title, debt, school-use, and building-quality checks. In older compounds, check elevators, heating, water pressure, parking, property-management finances, illegal internal renovations, fire-safety changes, roof leaks, basement damp, noise, and whether the building has enough maintenance funds. For new builds, check escrow, delivery standard, developer debt rumours, neighbouring phase delivery, school promises, metro promises, and whether "showroom" finishes are included in the contract.
Selling Property
Selling involves buyer qualification, contract, tax clearance, mortgage release if any, and registration transfer. Repatriating sale proceeds requires bank and tax documentation showing legal purchase, sale, taxes paid, and identity. If your China phone number, bank account, or residence permit will expire before sale completion, arrange representation and bank access carefully. Keep the original purchase contract, title/registration documents, tax receipts, mortgage payoff proof, passport history, and bank conversion records because the bank handling outbound remittance may not be the same branch that handled purchase.
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Property Buying
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