Hello, I am an American working in Dalian. I have been here for two years, and I intend to buy a new or resold apartment for my own use or for rent. Is there any special regulation for foreigners and what materials should be prepared in advance? Moreover, can I pay the price on installment
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In accordance with laws and regulations of PRC, foreign individuals who purchase housing in China have to meet four requirements:
1. The real property title registration department must carry out the title registration procedures for foreign individuals.
2. Foreign individuals have worked or studied in China for more than one year.
3. Foreign individuals must use their true names
4. Commodity premises are for their own use or for their own residence.
The documents that need to be prepared include:
1. Valid passport and the Certification Letter of Foreign Individual’s Stay Status in China issued by the Entry and Exit Administration Office of Dalian Public Security Bureau.
2. A written commitment that the purchase is in line with actual needs, for his own use or his own residence.
Therefore, in your case, your conditions can meet those requirements. But the apartment can only for your own use, not for rent.
Besides, banks like East Asia Bank and HSBC have run relevant mortgage businesses to provide credit for foreigners. But the rate mortgage varies from different banks. For more information, please consult the departments concerned in the banks.