Author: senoritazhao

Why do Chinese have so much of their wealth tied up in housing? [Copy link] 中文

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Post time 2017-4-14 14:15:49 |Display all floors
Jaaja Post time: 2017-4-14 13:32
In "socialist" countries there is always a danger of state confiscating everything within their bo ...

You can't own land in China either

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Post time 2017-4-14 18:57:29 |Display all floors
dusty1 Post time: 2017-4-14 14:15
You can't own land in China either

Yes, but at least currently you can own property built on the land. If it comes to it, that state takes your apartment, what are they going to do with it? Give it to someone else perhaps, but it makes little sense to replace one fool in the apartment with another.

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Post time 2017-4-14 19:08:27 |Display all floors
Jaaja Post time: 2017-4-14 18:57
Yes, but at least currently you can own property built on the land. If it comes to it, that state  ...

The lease is only 75 years and nobody knows what will happen when the e d of lease will happen and some buildings are netting close to this mark and are unsellable

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Post time 2017-4-14 19:34:34 |Display all floors
dusty1 Post time: 2017-4-14 19:08
The lease is only 75 years and nobody knows what will happen when the e d of lease will happen and ...

And in other places such properties are being purchased up to 10 years before the expiry of the lease in anticipation of a fat profit due to the compensation available.
(mostly harmless)

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Post time 2017-4-14 20:02:41 |Display all floors
dusty1 Post time: 2017-4-14 19:08
The lease is only 75 years and nobody knows what will happen when the e d of lease will happen and ...

It is 70 years.

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Post time 2017-4-14 20:06:26 |Display all floors
Jaaja Post time: 2017-4-14 18:57
Yes, but at least currently you can own property built on the land. If it comes to it, that state  ...



At present two possibilities most likely come up at such points of time: either the government resumes the land and kicks the leaseholders out, compensating them for the material loss of their own investment that they cannot remove. The government then most likely redevelop the lands

You need to know that very ew houses stand loner than half a century in China. In the 20th century, most buildings were torn down and rebuilt up to four times.

The other option is for the government to renew your landlease for another 70 years. You will then pay the tax on the appreciated land price.

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Post time 2017-4-14 20:12:08 |Display all floors
dostoevskydr Post time: 2017-4-14 20:02
It is 70 years.

Close enough

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