China is Asia's largest economy, with a huge population and land area. Government regulation of the real estate market is the main stabilizing factor for the local housing market. From Shanghai to the resort areas of Hainan, China offers a variety of opportunities for buying real estate.
Advantages and Features of Buying a property in China
Real estate in China is in demand not only in large cities. Thanks to the high-speed train network, you can buy real estate in rural areas of China and still get to the central areas in no more than an hour. Other advantages:
- Steady growth in prices. In megacities, the average annual growth in housing prices is 5–7%.
- Developed infrastructure. Megacities like Shanghai, Beijing and Guangzhou have extensive subway networks, international schools and world-class hospitals.
- Access to mortgages for foreigners. If you have a residence permit and a year of residence in the country, banks such as ICBC provide a mortgage at 2.5–3.5% for up to 20 years.
Real estate prices in China
The most expensive real estate in China is located close to the centers of megacities. For example, in Shanghai, the average cost of an 80 sq. m. apartment in the Pudong district is about $616,000, while in Heihe the same apartment will cost $50,400. On the secondary market, prices are 10-20% lower, but require checking the legal purity of the property.
Average property prices in China:
| City |
Property type |
Average price per 1 sq. m (USD) |
| Hong Kong |
Premium class apartments |
19,600 |
| Beijing |
Apartments in the center (new buildings) |
8400 |
| Shanghai |
Apartments in the center (secondary) |
7700 |
| Guangzhou |
Residential complexes (new buildings) |
5600 |
| Tianjin |
Apartments on the outskirts (secondary) |
2800 |
| Harbin |
Apartments in the center (secondary) |
1500 |
| Heihe |
Apartments in new buildings |
630 |
What is required to buy real estate in China
To find properties, it is better to seek help from realtors, whether local or international with experience working in China.
In general, it is not difficult for a foreigner to buy a home in China, but it is necessary to follow a number of rules introduced back in 2010 to prevent speculation:
- Residence in China for at least 1 year with a valid residence permit (Z-visa, work or study).
- Purchase of only one residential property for personal use; rental is prohibited.
- Commercial real estate requires company registration with a registered capital of at least 100,000 yuan ($13,800).
Required documents:
- Foreign passport and valid residence permit.
- Certificate from the Public Security Bureau (Gonganju) of residence in China.
- Proof of legality of income (for example, 2-NDFL certificate or bank statement).
- Notarized translations of documents (for example, marriage certificate for joint purchase).
Where is the best place to buy real estate in China for living and investment
The most popular option is Shanghai, a financial hub with a population of 24 million. It is home to international companies and schools, but also some of the highest prices in the country: a 60-square-meter apartment in the Huangpu district costs about $462,000.
Other popular cities:
- Beijing. The average price of an apartment in Chaoyang is $504,000 for 60 sq. m. The market is stable, with prices growing by 5% per year.
- Hainan. Hainan Island, known as the "Chinese Hawaii", attracts with its warm climate and tourist infrastructure. An 80 sq. m apartment in Sanya costs about $160,000.
- Heihe. The border town in Heilongjiang Province is considered one of the most affordable in terms of prices. A 60 square meter apartment costs about $37,800.
