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I hadn't heard about that, but it clarifies something. I've got in-laws in China, and many of them own older condos that they no longer live in. When I asked my
by tvanantwerp 8y ago
I hadn't heard about that, but it clarifies something. I've got in-laws in China, and many of them own older condos that they no longer live in. When I asked my wife why they don't sell, she just said there's zero resale value, which made no sense to me. But a law preventing the sale could explain it.
- rqs 8y agoIt's rather a regulation, not law. And I don't think it's apply to your case, because the regulation I mentioned above only limit recent transactions. That is, if you brought a house, from the time of the purchase, you can't re-sell it within 2~5 years. After that, you're free to go. If that old condos is not within the limited time, then maybe it is real that the house have no resale value. In that case, as far as I know, the only option is to wait until local government re-sell (re-develop) the land. But don't take my word, I don't know every policy of every local government. If you really curious, ask the question on a Chinese website like zhihu.com, then maybe you can get some information that is more useful.
- justtopost 8y agoPlease explain the nuance between a regulation and a law. I understand them to be different terms for government enforced actions. Is there a distinction in China I am not groking with my americentric bias?