Comments by "D W" (@DW-op7ly) on "China is relaxing restrictions on buying new houses. What does this mean for investors? Nothing." video.

@botdcypher some of those 70 year leases have expired in 2017 Does anyone have articles/links/examples of those fees being paid? Thanks in advance 👇 Saturday, April 15, 2017 Full Private Land Ownership Returns to China’s Cities I don’t see how to read this other than as a promise of perpetual free renewals. This means that people who paid for a 70-year LUR now find themselves with a perpetual LUR: the equivalent of full fee simple ownership. That’s worth noticing. Law professors typepad
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@willengel-vs8ht From my understanding they are still trying to figure out if they will charge renewal fee to renew that 70 year Lease As they are drafting legislation that will go nationwide From my understanding of that draft people will be allowed to renew their lease with a nominal fee attached
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@billyehh yea it’s confusing that’s what I was reading 👇 Good News For Chinese Homeowners: Premier Li Offers Some Clarity On Land Leases Mar 21, 2017 Reassurances on the longer leases from the central government follow after Chinese officials in the land ministry assured homeowners in Wenzhou, a city in the eastern Zhejiang province, last December that they would not have to pay a renewal fee to continue to use their residences after the shorter 20-year lease expires. The was a reversal of earlier statements that homeowners would have to pay a large fee of up to a third of the property value to renew. Wenzhou’s case was unique in that fees for property renewal were quite high; other cities, such as Qingdao and Shenzhen, experienced earlier lease expiries, but did not address the issue or requested lower fees. Wenzhou may set a precedent for other Chinese cities by waiving the renewal fee, albeit only temporarily. Forbes
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@billyehh In the end I don’t see land being taken away like some people postulate I do see them figuring out how to be fair make money from a central government and local government point of view Be better to make the renewal either free from fees or very nominal And then look to place a nationwide property tax 👇 China poised for major property rights overhaul New legislation will supplant patchwork of civil law system, but what looks good on paper may not become reality MAY 27, 2020 Property owners and prospective homebuyers can now have better protection from involuntary repossessions as well as peace of mind when their land leases expire. A land lease for a residential plot and homes built on it is typically valid for 70 years and with the new civil code, procedures are being laid down by local governments for free extension of leases or with a nominal charge. AsiaTimes
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@billyehh The Paradox at the Heart of China’s Property Regime What does it mean to 'own' a home in the communist country? Eventually, Beijing will have to decide. JANUARY 19, 2017, 11:20 AM Hence the outsize importance of the Wenzhou case as a bellwether. In the mid-1990s, Wenzhou offered residential LURs for sale for varying terms — some for as many as 70 years, but some (about 600 parcels) for as few as 20. (Other cities may have offered similarly short leases, but Wenzhou seems to have been the first.) These 20-year LURs are now coming due, and, predictably, leaseholders have been clamoring for a solution to their dilemma — their preferred solution being free lease renewal. But if those leaseholders who opted to save money by buying only 20-year LURs were to be given the windfall of perpetual free renewals, it would be politically very hard to deny the same benefit to those millions across China who paid for 70-year LURs. In other words, renewing the leases of those 600 Wenzhou homebuyers free of charge could have heralded the effective return of private land ownership to China. FP
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@rogerzen8696 some of the bigger cities they imposed property taxes because of the overheated real estate But it is not a nation wide property tax
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