Foreigners can buy houses with domestic loans, but they have more formalities and are slower. The specific provisions are as follows: in 2006, the state issued the opinions on regulating the access and management of foreign capital in the real estate market and the notice on regulating the foreign exchange management in the real estate market, which stipulates that overseas individuals who have worked and studied in China for more than one year can buy self-contained commercial houses that meet the actual needs.
Branches and representative offices established in China by overseas institutions (except for enterprises approved to engage in real estate business) and overseas individuals who have worked and studied in China for more than one year may purchase commercial houses for their own use and residence that meet the actual needs, and may not purchase commercial houses that are not for their own use or residence. Overseas institutions without branches or representative offices in China and overseas individuals working or studying in China for less than one year shall not purchase commercial housing.
1. Loan object:
1. Chinese citizens with full civil capacity and overseas and foreign citizens with right of abode in mainland China;
2. Pay the first purchase price (no less than 30% of the total purchase price);
3. Have stable economic income and the ability to repay the loan principal and interest;
4. Agree to use the purchased real estate as loan mortgage.
2 having the following conditions at the same time:
1. Hold legal household register (not limited to this city), ID card or business license, legal representative certificate or legal residence permit and passport.
Purchase the commercial houses (stock houses) of the developers designated by the bank locally;
2. Open a special deposit account in the bank, with the deposit balance no less than 30% of the housing fund to be purchased;
3. Have a valid purchase contract, agreement and other supporting documents;
4. Agree to mortgage the house property under the purchase contract;
5. Willing to perform all terms of the loan contract;
6. Other conditions stipulated by the bank.
Due to different regulations in different regions, it is recommended to consult the local housing authority (Real Estate Trading Center)