Beijing to Drop Higher Housing Prices for Overseas Buyers

Home>>Business

Last updated at: (Beijing Time) Tuesday, August 13, 2002

Beijing to Drop Higher Housing Prices for Overseas Buyers

Starting from Sept. 1, overseas companies, organizations and individuals in Beijing will no longerhave to pay a higher price for a house than locals, according to Tuesday's Beijing Times.

DISCUSSION

CHINESE

SEND TO FRIEND

Starting from Sept. 1, overseas companies, organizations and individuals in Beijing will no longerhave to pay a higher price for a house than locals, according to Tuesday's Beijing Times.

The different prices for buying and renting for overseas and domestic users did not fit China's WTO commitment which requires equal treatment, said sources with the Beijing Municipal Administration of Land Resources and Housing.

The equalization makes all houses and apartments available for both domestic and overseas consumers. Insiders were quoted as saying that the more market-oriented real estate business in Beijing means the quality of houses formerly available for domestic use only would improve and prices would stabilize.

Currently, some 50,000 foreigners live in the Chinese capital, unofficial figures show.

Questions?Comments? Click here

China's High-tech Development Geared to Marketable Industries ( 46 Messages)

Chinese GRE Test Takers Shocked by US ETS Decision ( 24 Messages)

Bush Looks Forward to Chinese President Jiang's Visit: Spokesman ( 22 Messages)

US Should Change Two-sided Policy: Opinion ( 27 Messages)

Shanghai Financial Center Aiming High ( 10 Messages)