Buying properties in Beijing for Tiktok Refugees | Guide to Purchase Eligibility & Mortgage Interest Rates 🏠
Hi tiktok refugees👋🏻👋🏼👋🏽👋🏾👋🏿
Today, I'd like to share about how to purchase a property in Beijing.
📝 【Purchase Eligibility】
Foreign families holding working visas, working in China and having no property under their names, can purchase one housing unit in Beijing. Submit a valid passport and its notarized Chinese translation. Also, sign the "Family Housing Purchase Application Form" and the "Housing Purchase Commitment Letter". Besides, a certificate proving continuous residence in China for at least one year is required.
💴 【Mortgage Interest Rates】
🏦 Foreign Banks: the interest rate can reach as low as around 3.1%.
🏦 Local Banks: for the first mortgage, the interest rate in the six urban districts is LPR + 10bp, and in areas outside the six urban districts, it is LPR.
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