Building Blocks
一砖一瓦
January 16, 2017 | BY
CLP Temp &clp articlesJunjie Chen of Co-effort Law Firm discusses the policies combating housing market volatility, the new taxes applicable to real estate and the regulatory trends impacting foreign investors in property and construction projects. 协力律师事务所的陈军杰律师探讨了遏制房地产市场过热的政策、新的房地产税项以及影响外商投资房地产和建设工程的监管趋势。
1. What were some important policies affecting foreign-invested real estate issued in the past year?
The Circular on Revising Relevant Policy on the Entry of Foreign Investment into the Real Property Market and the Administration Thereof (Circular) probably had the greatest impact on foreign investment in real estate this year. It was jointly issued by six ministerial level authorities, including the Ministry of Housing and Urban-rural Development, the Ministry of Commerce and the National Development and Reform Commission on August 27, 2015. Compared with the Opinions on Regulating the Entry of Foreign Investment into the Real Property Market and the Administration Thereof promulgated in 2006, the Circular lowers the threshold for housing purchases by foreign individuals and facilitates the entry of foreign capital into the market. Subsequently, cities such as Jinan, Shenyang and Beijing have successively repealed their orders for placing restrictions on foreign investment. The move resulted in a large increase in the use of foreign finances in the paid-in funds of real estate development enterprises.
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