Where do most foreigners live in Beijing?
Most foreigners in Beijing live in eastern or northeastern part of Beijing. Chaoyang District and Shunyi District are two of the representative districts in these two areas. Chaoyang District is the district where foreign embassies, most of the international organizations or agenices, foreign companies, luxury hotels, restaurants, bars, shopping places, apartments and offices buildings are located in. Shunyi has quite some international schools, luxury villa projects and golf courts. Both of these two districts are close to Beijing Capital International Airport.
Short Term Lease Apartment
Most of the serviced apartments in Beijing provide short-term lease service. The leasing term can start from one single day or one month or three months. Home furniture, electric appliance, sheets and kitchen facilities are all available in serviced apartments. The services may include free uses of breakfast, local call, internet access, some club facilities, room cleaning, water, electricity, gas, etc. Client needs to pay for the services of international call, cloth washing, part of club facility use fee, etc. In some cases, an extra 10-15% service fee may be charged based on the rental.
Does the landlord need to pay any tax for his/her rental income?
Yes, a 5% tax rate is applied to all properties based on the rental income of the landlord. Except the 5% tax, there is no more other tax.
Can any foreign individual or entity purchase property in Beijing?
Please refer to
'Notice on Regulating the Purchase of Commodity Premises by Foreign Entities and Individuals'.
What are the taxes and fees foreigners need to pay in sell a property?
1. Transaction Tax(Yingye Shui) - Transacted Price x 5.5% if the transaction happens within 5 years after it is purchased
2. Transfer Tax(Qi Shui) - Transacted Price x 3%
3. Land Appreciation Tax(Tudi Zengzhi Shui) - Transacted Price x 1%
4. Public Maintenance Fund(Gonggong Weixiu Jijin) - Transacted Price x 2%
5. Personal Income Tax(Geren Suode Shui) - (Transacted Price - Origina Price) x 20%
6. Stamp Tax(Yinhua Shui) - Transacted Price x 0.05%
7. Lawyer's Fee - Usually RMB5000/deal
7. Other small-amount taxes or fees
What are the five certificates?
The property developer can sell a property legally only after it has got the five certificates. The five certificates are,
1. Guoyou Tudi Shiyong Zheng-which is state land use right certificate;
2. Jianshe Yongdi Guihua Xuke Zheng- which is construction land planning certificate;
3. Jianshe Gongcheng Guihua Xuke Zheng- which is construction project planning certificate;
4. Jianshe Gongcheng Kaigong Zheng-which is construction project commencing certificate;
5. Xiaoshou Xuke Zheng-which is sales certificate.
Does a foreign buyer need a Chinese name in buying a property in Beijing?
Yes. He/she needs a notarized Chinese name.
Who will pay agent commission fee?
In all most all the situations, real estate developers or individual owners will pay commission fee to agents. However, agents may need to charge commission fee from the buyer or tenant if the real estate developers or individual owners won't pay them any commission fee.
Land Use Right Term in Beijing
For residential purpose development, it is 70 years. For office purpose development, it is 50 years. For retail purpose development, it is 40 years.