China

Introduction

China is the most populous country in the world, and is third largest in terms of land size, after Russia and Canada. China is located in eastern Asia, bounded by the Pacific in the east. Its vast land area of 9.6 million square kilometers is equal to one-fifteenth of the world's land mass.

China has the largest population in the world. In 2008 the population reached 1.328 billion, which totals approximately 22% of the total world population.

The official national language of mainland China or even greater China is termed Pŭtōnghuà (Mandarin), Common language (普通話). The currency is Renminbi (RMB, ￥) or Chinese Yuan (CNY).

Where to buy

As the world’s fastest growing economy, China is becoming more and more appealing to foreign investors, and property is at the top of the list. Investing in the Chinese real estate market is possible although not a simple matter. Beijing, Guangzhou and Shanghai are commonly known as first tier cities, and therefore may come across as investors’ most obvious choices in China. However, second tier cities such as Xiamen, Qingdao, Nanjing, Chongqing and Hangzhou, etc. may actually provide better value and growth.

Foreign Buyer Legal/Tax Implications

Your CENTURY 21^® Agent will be able to assist you in understanding the home buying process. Please seek professional advice from a qualified lawyer and tax adviser before attempting to purchase real estate in China.