‘Minor Property Right’ — Better Than None? – Li Qian
In Beijing’s heated real estate market, 300,000 yuan can buy no more than a 20-square-meter apartment within the second ring road. And, with a bit luck, you might be able to buy a 40-square-meter place inside the fifth ring with the same amount of money. However, you can afford a 100-square meter home in some residential complexes near the fifth ring but with a vague property right.
With an amazingly low price of about 3,000 yuan per sq. m., the apartment complex named Tai Yu Yuan on the outskirts of Beijing attracted quite a few potential home buyers from the city and even neighboring cities and provinces when sales of a new phase started in late May. This is the so-called “minor-property right” apartments….[Full Text]