Beijing municipal government has simplified procedures and waived administration fees for non-citizens who are buying properties in a move that is expected to stimulate sales market in the city.
Starting yesterday, non-Beijing citizens are allowed to buy residential properties in the city as freely as Beijingers, as approvals they previously had to obtain from the municipal government have been lifted and an extra administration charge has been cancelled.
People from outside Beijing previously had to pay a charge of 0.3 per cent of the transaction value when they bought properties in the city.
The charge did not apply to Beijing citizens.
Overseas buyers are also not required to pay the extra cost.
Winnie Yip, director and general manager for the Beijing office at DTZ Debenham Tie Leung, said the move was aimed at attracting investments and opening up the market.
'Cancellation of the extra payment will enlarge buyers' portfolios and encourage more sale activity,' said Ms Yip.
