Buying an apartment from Beijing has become increasingly difficult. All for good reason, to avoid the housing market bubble from bursting. Back in the days, apartments were inexpensive and while the economy was starting to boom.. Many took their chance to buy two or several residences just for themselves.
Now the price level is remarkably high and buying one is a serious investment. Those apartments that are being bought, are being sold by those who did not need to do much as to lift their finger.
But as the economy boom continues to rise on an increasing level.. apartments are still being traded in high speeds. This is why the amount of apartments being able to buy is decresead and non Beijing-residents are unable to do so at all.
Such policies have only taken the problem somewhere else, which happens to be new residental areas just ouside the border of the city. There one can still freely invest in the housing market and business is as usual.
While thanks to these prevention methods, Beijing is OK for now. Moving the problem to the outskirts is only a momentary solution. Long term effects are still virtually unknown and many believe that serious economic reform is still in great lack!
For those foreigners who are still wanting to invest to the Beijing housing market, perhaps because of the pressure from the family of the Chinese girl they are about the marry. A liable option is a so called “business apartment” which is meant for local businesses. However due the loosened laws regarding these apartments, many regular ones go with this name.
Beijing Report / Dwayne Peng