Organization : Beijing Housing Service Corporation For Diplomatic Missions
Type of Facility : Purchasing/ Renting a Home & Office in Beijing
Country: China
Website : https://www.bds-cn.com/html/home/
eBeijing : http://www.ebeijing.gov.cn/feature_2/ResidinginBeijing/LegalProcedures/FindaProperHouse/t1034333.htm
Purchasing or Renting a Home and Office in Beijing:
If you are a newcomer in China, you may find it difficult to locate a house for yourself. The Beijing Housing Service Corporation for Diplomatic Missions will provide free consult service on office or residence housing, including recommending to foreign institutions suitable candidate houses when necessary. You may also rely on trust-worthy housing intermediaries to do the job for you. When purchasing houses, you need to check whether the real estate developer has the full set of formalities for the sale. After you have chosen the house you need to go through relevant formalities with Beijing Municipal Housing and Land Administration Bureau.
Resident foreign correspondents and foreign news agencies in Beijing may send a written application to rent a home or office to the Beijing Diplomatic Housing Service Corporation, detailing specific requirements. The corporation can provide you with appropriate housing or offices, and is also responsible for building management and maintenance. Resident foreign correspondents and foreign news agencies may also rent or purchase homes and offices approved for foreigners in Chaoyang or Dongcheng districts. If a resident correspondent or news agency intends to change an office or residence, the IPC should be notified in writing.
Foreign correspondents and news agencies in Shanghai and Guangzhou should find homes and offices in accordance with local regulations.
Beijing Housing Service Corporation for Diplomatic Missions:
It provides office buildings, living quarters, property management and relevant services to diplomatic missions and all their staff in their daily lives, both occupational and private. Its remit covers several diplomatic residence compounds and apartment buildings in the select, desirable districts of Jianguomenwai, Qijiayuan, Sanlitun, Tayuan, Liangmaqiao, and Gold Island, and it also has dozens of independent small villas for rent. Under the Corporation, there are six property management departments in charge of the management, maintenance, public security, sanitation and landscaping and other related services.
Add: No.223 Chaoyangmennei Dajie, Dongcheng District, Beijing
Tel: 65122200?65321040
Fax:65594620
Postcode:100010
New Rules for Property Sales to Foreigners:
New rules to control foreign investment in China’s property market have been agreed, following concern that surging foreign speculation in the market is forcing up house prices.
Shanghai-based China Business News reported on July 17, 2006 that six government bodies including the Ministry of Construction and Ministry of Commerce have signed an agreement on a rule to regulate overseas capital in the property market.
Foreign firms or individuals will have to use their real names when buying residential houses. And foreigners will not be allowed to buy residential housing that is not for their “own use or own habitation.”
“The measure provides a premise for the government to impose a property tax, which is very popular in most developed countries,” said Xu Dianqing, professor with the China Center for Economic Research of Peking University.
“A property tax would demand a register of names, and it would be the best way to restrain speculation on the property market,” he said.
The rule also requires foreign businesses or individuals buying Chinese property not for their own use to set up a China-registered company to handle the purchase.
The measures are believed to make it easier for the government to monitor the flow of overseas capital into the property market.
“Although there has always been a claim that foreign capital pushes up prices, both the government and research department in fact lack detailed data on this,” said Yu Zhiyong, an analyst with Shenzhen-based China Merchants Securities. “The name register will give them a clearer picture.”
Foreign-funded property firms investing more than US$10 million will need to hold registered capital equal to no less than 50 percent of the value of the investment, potentially a huge hurdle for many firms.
The measure is aimed at preventing those who do not have adequate capital from speculating in the market.
“Currently, if a foreign-funded property firm does not have adequate money to invest in the property market, it would borrow from Chinese commercial banks, which in turn transfer the risk to domestic banks,” Xu said.
“With the measure setting such high entrance standards, domestic banks are protected from these potential risks,” he said.
Xu added that the public should consider the move to be a restriction on foreign capital entering the property market.
According to the rule, investors with registered capital less than 35 percent of the total value of a project, or who fail to obtain a land-use certificate, will not be allowed to borrow from domestic or foreign lenders.
The transfer of projects or stakes in foreign-funded property firms and the acquisition of domestic property companies must be approved by the government.