Recently, one of my clients asked about the possibility of foreigners buying apartments in Hangzhou. He shared that he and his family have lived in Hangzhou for nearly 10 years, during which they moved 4 times due to various reasons—and their rent has consistently increased. Moreover, he mentioned that the total rent he has paid over these years is nearly one-third of the price of a decent apartment, making buying a much more cost-effective option than renting long-term.
Can foreigners buy properties in Hangzhou? Before answering this question, let’s first clarify the main types of properties available here:
Properties for sale in Hangzhou fall into two main categories: new properties and second-hand properties.
- New properties refer to brand-new units sold directly by developers who built the residential compounds.
- Second-hand apartments are units purchased from individual private owners (i.e., existing homeowners).
Properties can also be classified by usage: 住宅 (zhù zhái, residential properties) and 公寓 (gōng yù, mixed-use apartments).
- Zhù zhái are strictly for residential purposes (only for living).
- Gōng yù are mixed-use (residential + commercial). This means if you buy a gōng yù, you can use it as a home, set up an office, or even register a company using its address.
Now, back to the core question: Can foreigners buy properties in Hangzhou? The answer is mostly "yes"—but with specific conditions (not all properties are available).
If you’re a foreigner planning to buy property in Hangzhou, here’s what you need to know, step by step:
Step 1: Meet the basic eligibility criteria
The most fundamental rule: Foreigners are only allowed to own one property in mainland China. If you already own a property elsewhere in China, you cannot buy another in Hangzhou.
Additionally, you must have: - A stable job in Hangzhou; - A valid Resident Permit for Hangzhou.
If you meet these requirements, you can move to Step 2.
Step 2: Obtain approval from the Homeland Security Bureau
You need to apply for a "Letter of Approval for Foreigners Buying Property in Hangzhou." While this may sound complicated, the process is actually straightforward with the right documents (e.g., Resident Permit, employment certificate).
Step 3: Choose an eligible property
- For new properties: The residential compound must have a special license for selling to foreigners (ask the developer to confirm this first).
- For second-hand properties: No extra license is required—you can choose any unit that fits your needs.
Financing note: Many banks (including foreign-funded banks in China) offer mortgage loans to eligible foreigners. The down payment ratio typically ranges from 30% to 60%, depending on the property type and the bank’s policies.
One final key detail: You will need a Chinese name (written in Chinese characters). All contracts, agreements, and official documents must be signed with this Chinese name—and you may need to write it dozens of times during the process, so practice it in advance!
Need more help with Hangzhou real estate?
Visit hangzhourentals.com — your trusted guide for Hangzhou apartment rentals, property purchases, and foreigner-specific real estate advice. We help expats find their ideal home in Hangzhou!
