Flats built on commercial land in Shenzhen, mainland China’s most expensive property market, are in high demand and buyers from other parts of the country are buying several properties at a time.Residential land in mainland China is made available in 20 or 70-year leases, and only homes built on 70-year lease lands are considered standard residential units. Flats built on commercial land, with 40 and 50-year leases, require higher down payments, higher mortgage rates, longer holding periods…
Source : South China Morning Post
Read more…Commercial flats in Shenzhen targeted by buyers from other Chinese cities betting on property appreciation in tech hub
