Qingdao Residential Real Estate - Apartment, Villa, or Duplex
In July 2006, the Ministry of Construction issued a statement requiring foreigners to live in China for at least a year before being allowed to buy a house. As of January 2007, foreigners looking to buy residential property (Apartments, Villas, & Duplexes) in Qingdao also require a residential status certificate also known as a Z visa. However, if you are willing to pay cash upfront, officials have indicated that a Z visa is not required.

The government has also clamped down on overseas Chinese residents, including those from Taiwan Province, Hong Kong, and Macao special administrative regions, as well as Chinese living abroad from buying property on the mainland. Overseas Chinese residents also now require a signed testimony saying they will live in the house and not rent it out or sell it. Despite the new regulations, foreign investors (both commercial and private) remain hungry for a piece of China's real estate market, especially in cities like Qingdao.

Residential Real Estate Financing - Apartments, Villas, & Duplexes
As a foreigner, if you already have a Z visa (residence permit) and have resided in Qingdao for more than a year you can apply for a loan to buy an Apartment, Villa, or Duplex. Qingdao foreign expats are required to put down at least 50% and pay a bank guarantee of 0.003% to get a loan for residential real estate. The loan needs to paid in full within 10 years. Interest rates vary depending upon lender; the average interest rate is 5.4% for 1-3 years, 5.76% for 3-5 years and 5.94% for more than 5 years. Keep in mind that you will not be able to purchase farm land or land that does not already have a residence on it.

Taxes and fees for buying property in Qingdao:
For new property, the title deed tax is 1% for property under 90 Sqm, 1.5% for 90-144 Sqm and 3% for more than 144 Sqm.
Taxes and fees for buying second hand property in Qingdao:
(1) The buyers need to pay the title deed tax plus 5.5% business tax if the property age is more than 2 years and square meters are under 144 Sqm. (2) The buyers need to pay the title deed tax plus 2% personally tax and 5.5% business tax if the property age is less than 2 years and square meters are more than 144 Sqm. (3) The buyers will need to pay the title deed tax plus business tax if the property is more than 2 years and square meters are more than 144 Sqm.

Qingdao's XiaoMaiDao - The Next Palm Island
Limitless, a unit of Dubai World, and its subsidiary in Hong Kong, has won the bid for the development of XiaoMai Island in Qingdao at a price of 4.368 billion CNY. XiaoMaiDao, located east of YinHai International Yacht Club (the training base for 2008 Olympic Sailing events), will be developed into a world attraction that includes a theme park, a large theater, and a seven-star resort hotel. Construction, costing about $500 million, will begin in 2010, with completion scheduled to be within five years.

Qingdao Real Estate & Relocation Team (QDRE)