Have seen many adds for investing into the Chinese boom … has any body here any information in this area … some business people of mine are raking in millions from manufacturing their goods in China …
D
D,
There are many different property markets within China just as there are in Australia and some may be more promising than others. I live in Hong Kong and the market here is in slight decline with investors waiting for the full impact of the sub-prime to carry through. In Macau there are many projects aimed at foreigners but reports in the press say sales are slow. No doubt someone can give you more info about Shanghai and Beijing. The developers and middle men seem to be pretty greedy in some reports and I feel it would be tough to get straight answers in some of your research. They create artificial demand in some cases. I think apart from finding a deal where the $$$ really stack up your issues will be finance, title (some areas don't allow foreigners to purchase freehold) and possibly language if you are outside the markets that really cater for foreign investment.
There are other markets in Asia now that are also experiencing good growth and lots of the money being made in China is going into these markets also. Some of these markets are safer and easier to invest in property.
I work in HK and was looking at buying IPs in China. It is challenging if you are a non-resident, possible if you have worked there for at least 12 months for Shanghai (not sure about Beijing, Shenzhen or Guangzhou). The issue is that the Shanghai state government has a strict regulation prohibiting non-residents buying IPs within Shanghai.
Hope that answers your queries. If you keen, can you look at some of the inner cities located West (Xian, Chengdu) which has not historically enjoyed as much capital growth as first tier China cities (Shanghai, Beijing, Shenzhen, Hangzhou, Guangzhou) which are located along the seaboard. The Government is trying to promoting developers to build low-cost housing for those inner second-tier cities. Scout for English-speaking real estate agents and learn from them re China market (its not easy to find because I am still trying)… Good luck
Cheers
John
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