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Old Jul 18, 2006 | 9:23 pm
  #2  
Peter N-H
 
Join Date: Mar 2006
Posts: 153
I think you're missing the point, which is not that these particular rules are being introduced at this particular time (and which can certainly be circumvented one way or another, as all rules in China can), but that arbitrary changes in the status of your property, in your rights over it, in the nature of any contract, in the costs of owning and running it, in repatriating any financial benefit from it, or indeed in the state of neighbouring property, common property, adjacent roads or other services, or any other matter affecting the value and habitability of your property (including price controls, rent controls, service charges, pollution issues, taxes, licences, fees, neighbouring construction, etc.) can change at any time in China if it suits officials at almost any level to do so and particularly if it will personally profit them to do so. The chances of being cheated in some way by realtor, developer, or management company are nearly 100%. And since contracts are meaningless and largely unenforceable, there will be absolutely nothing you can do about it.

Setting aside the whole business of government itself, there is only one industry in China more corrupt than the property industry, and that's the mining industry.

In short, it's was never a good time to buy in China, it still isn't, and it isn't likely to be during the remainder of your natural life.

Peter N-H
http://www.datasinica.com
http://peternh.blogspot.com
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