Buying property in Chengdu

[Sweet]

Hi everyone, I am asking this question on behalf of a friend as I said I would try to get some advice for her and I may also benefit from it.

She is looking into buying an apartment (1 or 2 bedrooms nothing fancy) and after spending some time researching is still at a loss. Her main query is;

‘Can a foreigner who is single and has been living in China for a few years buy property?’
Is buying an apartment in Chengdu a good investment?

I would rather she have the facts because it would determine if she wants to move here long term otherwise she is most likely to move on and just go on spending spree 🙂

Any information would be great thanks.

[Charlie]

Hi, to answer your questions:

1. Yes, you can buy property.
2. Is it a good investment? That depends on where the market is going and whether or not this type of investment suits you.

Having lived in Chengdu for years, I would not buy an apartment here. With that said, many people have bought and sold apartments and made money in the process.

Of all of the hundreds of expats I’ve met in Chengdu, I don’t think I’ve ever met one that has permanent residency. With our guest status in China being what it is, I wouldn’t feel comfortable buying real estate in such a place. To offer a contrast: a good friend of mine moved to Hong Kong and has been there for 10 years and has permanent residency there. I would feel a lot more comfortable there than here, even with prices being what they are. Mainland China real estate is a mad house.

[Vincent]

Here’s a start: Home Buying 101: How Can Foreigners Buy a House in China? by Maxxelli Consulting, Chengdu.

[Author]

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