Gucun New Town
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Overview
A large residential development in Shanghai, known for its proximity to the popular Gucun Cherry Blossom Park.
Building/Community Amenities
- 24/7 Security
- Fitness Center / Gym
- Parking
- Playground / Kids Play Area
- Pool
Investment Insights
Legal & Ownership
Legal & Ownership Information
Ownership Structure
Ownership Rights
Full ownership rights (Freehold)
Foreign Ownership
Foreigners can purchase property in China, but only for residential purposes and must have lived in the country for at least a year.
Tax Considerations
Property Taxes
Property taxes in China include a purchase tax, typically around 3-5% of the property value
Transfer Tax
purchase tax, typically around 3-5% of the property value
Inheritance Tax
Capital gains tax is applicable at a rate of approximately 20% on profits from property sales
Important Considerations
Restrictions
- Restrictions prevent foreign entities from buying land; only leasehold rights for up to 70 years are available for residential property.
Required Documents
Financing Options
Financing Options
Financing in China
China offers a variety of property financing options for foreign buyers, making it an attractive market for international real estate investments. Typically, buyers can expect loan-to-value (LTV) ratios ranging from 50% to 70%, depending on the lender and the property's location. China's booming real estate market, coupled with its urbanization and economic growth, makes it a compelling destination for mortgage financing. The country's strong legal framework for property ownership and the availability of diverse financing options further enhance its appeal to foreign investors looking to tap into this dynamic market.
Requirements for Foreign Buyers
- 1Valid passport
- 2Proof of income (such as salary slips or tax returns)
- 3Bank statements from the past six months
- 4Proof of legal residence in China
- 5Good credit history
- 6Down payment, typically 30% to 50%
- 7Property purchase agreement
