Beijing's latest housing policy

The latest housing policy in Beijing in 2023 is: Beijing hukou can buy two houses, and foreign hukou needs to pay social security, provident fund and related taxes in Beijing for five years (60 months) before it is eligible to buy one.

Beijing's latest housing policy in 2023 stipulates that Beijing hukou can buy two houses. If it is the first suite with a building area of less than 90 square meters, the deed tax rate will be reduced to 1%, and if the building area is more than 90 square meters, the deed tax rate will be reduced to 1.5%. If it is the second set of improved housing with a construction area of less than 90 square meters, the deed tax rate will be reduced to 1%.

Non-local household registration is limited to one set, and must meet the requirements of paying social security, provident fund and related taxes and fees in Beijing for 5 years (60 months). If you have a record of buying a house loan in a foreign country or hometown before, whether it is paid off or not, the down payment will not be less than 80%.

The process of foreigners buying a house in Beijing

1. Prepare housing funds: Before buying a house, you need to prepare enough housing funds, including down payment and loan amount. When foreigners buy a house in Beijing, the down payment ratio is generally higher than that of locals, so they need to know the relevant policies in advance.

2. Choose the purchase area and housing: Foreigners need to choose their own purchase area and housing in Beijing. You can check the housing information through real estate agents, networks and other channels, and conduct on-the-spot investigations.

3. Sign a house purchase contract: After a foreigner chooses a house, he needs to sign a house purchase contract with the seller and pay the corresponding deposit or advance payment. At this time, it should be noted that the purchase contract needs to comply with relevant laws and regulations, and the terms in the contract need to be clear and legal.

4. Apply for real estate license: After the house purchase contract is signed, foreigners need to apply for real estate license. The specific process includes paying the house price to the seller, handling the transfer formalities, and applying for the real estate license from the Housing Authority.

5. Pay taxes and fees: the purchaser needs to pay the house transaction tax, deed tax, personal income tax and other related taxes and fees.

6. Apply for a loan: If foreigners need to apply for a loan to buy a house, they need to provide relevant loan application materials to the bank, such as income proof, personal credit report and housing evaluation report. The bank will approve the loan application according to the credit status and income of the buyers.