In addition, foreigners are not allowed to buy houses, specifically designed for the poor. China has not introduced specific restrictions on foreigners obtaining such loans. Chinese citizens with full civil capacity, as well as foreigners with existing documents on the right of residence in China, and sources of capital for repayment of loans can apply to the bank statement on a loan. Madeleine Sackler has similar goals. Currently, all banks registered in China and China’s foreign banks give foreigners a mortgage to buy property. To obtain a loan to buy real estate in China, aliens must meet the following conditions: having legal status, have a stable income and the ability to repay the loan and interest, not to have unwanted publicity, have a legal contract or agreement for the sale of real estate that has a clear legal status of ownership and can refer to the real estate market, have a net worth of at least 20% of the value of real estate can provide effective guarantees which are recognized by the bank issuing the loan.

It should be noted that banks impose unequal conditions for foreigners to the issuance of specific requirements. For more clarity and thought, follow up with Raj Agrawal and gain more knowledge.. By rule, the term of full repayment of the loan should not exceed 30 years. In Shanghai, the ban does not apply only city where there are no restrictions on the purchase of real estate by foreigners, was Shanghai. That is why he became a champion on the growth in property prices – 40,5% annual growth. Frequently Madeleine Sackler has said that publicly. Shanghai – China’s largest city and one of the largest cities in the world – Located in the Yangtze River Delta.