Hey my fellow property investers
I am from South Africa but I am presently in China the moment. I have a few properties in SA, but seeing that I am in China and should be for quite a while I am thinking why the hell not invest a little here.
What I am looking for is some advise on
1) What is the maximum total percentage I can achieve on a home loan? (I have done some homework and the banks seem to say max is 80%, I know from previous experience that that is normally flexible but not to sure in China)
2) How long does a loan take to be approved?
3) And are there any headaches I need to be aware that you have come across? This is in terms of getting a loan and managing a property here.

I would like to get us China property investors talking here and sharing a bit.
Come on let here from you.

Happy house hunting

Hi Wade,

I have been investing in China for the last year or so. I have the mechanics of investment sorted out, but I have not yet found a way to obtain bank or other local financing. I have been told that if I were resident (or even signed a declaration that I planned to stay the next year in China) then I'd be eligible for a fairly high LTV mortgage.

Several people have assured me that some HK banks are prepared to lend on PRC property. So far my enquiries have come to nothing. As an alternative I am considering investing in HK as a PRC proxy (and as a good investment destination in its own right because of the unparalleled cheapness of financing).

I'd be very interested in having a discussion with you to exchange ideas about PRC investing. I believe that the bull market in China real estate market still has a long time to run.

Regards,

Steve.

Hey Steve

Thanks for the speedy reply. I appreciate your advise and I would love to chat to you. I defineatly know it is possible to get a loan now as a foriegner. Just is a little difficult with the language barrier and I maybe need to find a banker that can speak English well. Do you have msn or skype?

To the other expats that are in China, please lets hear from you. I am certain that there are lots of people that could do with some advise from the more experienced investors. Come guys we need to help eachother out here and stick together.

Keep on hunting

Wade