Featured Luxury Property in Shanghai

Restrictions and Rules for buying old Properties in Shanghai?

This article is from Shplace Sales which you can find at www.buyshplace.com, the new domain from A Place in Shanghai to find all information about buying and selling great places in Shanghai.

Know-How for purchasing an Old House or Colonial Apartment in Shanghai.

If youíre about to purchase an old Lane House, Garden House or Apartment in Shanghai there is a lot of regulations and restrictions for non-shanghainese, non-mainland chinese, and foreigners.
On this page we list the most important things that you have to have checked out and consider before putting any money done for an object.

The most common miss-understanding and restriction why most deals fail is that the House is not registered on an Owner Ship Certificate ( Chan Quan) but on a Usage Certificate ( Shi Yong Quan).
The properties registered under a Usage Certificate (which was the standard and only certificate a while ago, and is the most common in old houses today) can only be purchased by shanghai locals.
In the late ninetyís the country offered a service to transfer the old houses and apartments Usage Certificates to Ownership Certificates for a 30k rmb fee (a lot of money at the time, considering most places didnít cost more than this), and steady rose to a couple of Million Rmb.
By Now itís impossible for most if not all Houses to transfer these into real Ownerships.
The Houses that have been transfered at the time are the old houses and flats that everyone can buy today.

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