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No private property rights in China, correct, it's 99 year leases. This is why rich Chinese use their money to purchase assets (including real estate) overseas.
by samspenc 8y ago
No private property rights in China, correct, it's 99 year leases. This is why rich Chinese use their money to purchase assets (including real estate) overseas.
I'm curious about the no property taxes comment though - does that refer to China or Japan? I thought China had taxes on everything, including property.
- onlyrealcuzzo 8y agoThere is no property tax in China. It's a 99 year lease, so the original purchase is basically a tax.
- thedailymail 8y agoJapan definitely has property taxes (I'm a homeowner there).