Help you know more about the beijing property.

[alan88]

If you want to know some info about the beijing property situation or details. please reply this thread back with your question.

i will give you specified response

[alan88]

I am living in beijing, and familiar with the real estate market of beijing. Like office and apartment invest. or build company in beijing business. Could give you professional answer

[Proptime]

Alan88,

Currently writing about the rise in foreign interest in hutong property in Beijing. Please could you help by answering the following questions.

Do you believe buying a hutong property as a good investment and is there a market for buying and renovating them? \

What are the restrictions the government has imposed in regards to allowing foreigners to own this ancient homes?

Any information or advice you can give surrounding this sector would be greatly appreciated.

Many thanks.

[alan88]

Hi,

Regarding your first question to buy a Hutong property is a good investment or not.As the currently situation the owner of this kind of property are some rich people or belong to local government departments. It's really get less and less.Absolutely it's the symbol of old beijing culture.Many of the foreigners like living there,it's really cost too much rent such a property. If i have enough extra money maybe will buy one even not living there.

The restrictions of buying hutong property have been abrogate after 2004.Buy hutong property same like buy apartment in beijing. but if you want decorate the property should get the permit of local government. and also purchase procedure is more complicated than normal. Normally buy this kind of property is from the real estate agency.

Hope would helpful.

[erikko]

may i ask if the property rates there are still the same before and after the recent Olympics?

[alan88]

Originally Posted by erikko

may i ask if the property rates there are still the same before and after the recent Olympics?

The property rates in beijing even in the whole China is a bit poor since the beginning of 2008. one of the reason is the sucks stockmarket. maybe you heard about that.

the people expect too much for Olympics, actually not bring many surprise to them. but for the high-grade property and commercial property market not get effect in beijing,some of them rise in price after Olympics.

[erikko]

that's sad considering that Beijing can be a good market