Ello!

I know the rules on buying property as a UK passport holder (i.e. need to have lived in China for at least 1 year on a residence permit).

But! Any ideas what the rules are for HK SAR Passport holders buying a property over here?

Parents are SAR Passport/UK passport holders so want to buy a place over here for the future.

Cheers for help

I think should be the same

I agree, should be the same rules as Expats.

It's the same. Live here for 1 year the last I checked which is about a month ago.

Ah well, I thought it was a little different for HK residents with the 'Hui Xiang Zheng' (allows a stay of 10 years in mainland China or something like that).

The same as foreigners in general. HKers are probably the main reason the law was implemented in the first place.

hehe, probably true Cheers!

Of all my buddies from HK, the one who has purchased the fewest apartments has 7. He says it's good business, but too bad the government has clamped down.

Ah i see! I did read some info about HK'ers being able to buy a few properties - but that was probably before the government clamped down. Tis a shame as it wasn't really for business, really just for me to live in and my sister later on when she comes back to Shanghai.

Before the clamp down, any foreigner could buy as many properties as they wanted to. Not supposed to be so now.

HK/Taiwan/Macau passport holders with valid China travel documents don't need the 1 year requirement, but are limited to 1 property for "self-use" (ie have to prove that you're actually going to be living in it)

OIC...

is it one property in CHINA or...? Parents already bought a place in Shenzhen a while ago

One in China, but I doubt the database is set up to interconnect cities yet.

@goldentong / lawrence
you mean you register in this thread just to advertise!?

what is this "clampdown"? Does it just mean foreigners can only buy one apartment or is there more to it than that?

Also forgive me if this is a dump question, but what is the deal here getting a mortgage if you are only here on a Z visa and residence permit? Actually I am getting paid in HK anyway, but don't want to be renting much longer!

Right. Foreigners can only buy one property which must be their principal place of residence. It seems that this policy was enacted to try and cool down the property market. Apparently the government believes that foreign investment is responsible or in some way contributes to the problem. I do know several Hkers that own about a dozen properties each, but I am not sure if the problem is so widespread so as to call the restrictions on foreigners buying property reasonable.

You can obtain a mortgage, but PBOC regulations require banks to lend no more than 50% of the property purchase price / property value vs. 70% for locals. Some banks may not follow this regulation or there may be ways around it.

thanks underh20