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Mortgages for Expats in China

Author: Jim Newham
Submitted: August 2013

The PRC Government is putting heavy restrictions on foreign buyers in an attempt to deflate China’s property bubble. If you are from overseas, getting a mortgage from a Chinese bank is not currently possible. Mortgages will no doubt become available to non-nationals again sometime in the future. You may, of course, be able to secure a mortgage with a bank from your home country, although these banks are also being restricted in their ability to lend by the PRC government.

Otherwise, the only way to obtain a mortgage is if you have a partner who is a Chinese national. Even then, finding a mortgage can be hard if your partner does not work for a Fortune 500 company or a similarly prestigious organisation. If your partner wants to apply for a mortgage, they will need, at minimum, the following documents:

  • Copy of passport
  • Payslips or statement of income for last three months
  • Proof of address
  • a minimum 30% deposit, in cash, that is, not from another borrowed source.
Your partner will also need to take out insurance on the property and may need to pay property taxes.

 

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