Financing of China property still a problem, but overall a great opportunity
Hi Wade,
I have been investing in China for the last year or so. I have the mechanics of investment sorted out, but I have not yet found a way to obtain bank or other local financing. I have been told that if I were resident (or even signed a declaration that I planned to stay the next year in China) then I'd be eligible for a fairly high LTV mortgage.
Several people have assured me that some HK banks are prepared to lend on PRC property. So far my enquiries have come to nothing. As an alternative I am considering investing in HK as a PRC proxy (and as a good investment destination in its own right because of the unparalleled cheapness of financing).
I'd be very interested in having a discussion with you to exchange ideas about PRC investing. I believe that the bull market in China real estate market still has a long time to run.
Regards,
Steve.
|