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According to foreign media, Chinese people buy a lot of houses in Moscow. Many real estate companies have found that Chinese people are extremely active in the Moscow housing market. The main thing is to buy cheaper houses in the surrounding area of ​​Moscow.

According to a report from the Russian Satellite Network on July 7, Chinese people's interest in buying houses in Moscow has increased sharply since the end of last year, when foreign currency holders began to flock to the Moscow real estate market. Among them are not only Russians depositing foreign currency in banks, but also foreigners, mainly citizens of Russia’s neighboring countries.

According to the report, Sanakoyev, director of the Russian-Chinese Analysis Center, said that it is completely understandable that former Soviet citizens are interested in Moscow housing, but Chinese citizens are also so interested, even beyond the expectations of experts. He said: "We think this is a temporary phenomenon, because the surge in the Chinese stock market has given many Chinese people surplus money and need to spend it. Many people have decided to invest them in the Russian real estate market. The situation has now changed: China’s stock market has plummeted and the ruble exchange rate has stabilized. I think the Chinese’s activity in the Moscow housing market will soon decrease.”

Mr. Ma has lived and worked in Moscow for nearly 20 years. I have a small company that provides intermediary services. According to Mr. Ma, in the past six months, almost one in two of his Chinese friends bought a house in Moscow. The Russian capital is an expensive city, even the old houses on the edge of the city are not cheap. So everyone tries to buy the houses under construction as much as possible, and they should be cheaper, Mr. Ma explained. If you have U.S. dollars in your hand, it is even more cost-effective to exchange for rubles.

Mr. Ma said: “Foreigners in Russia have the same right to buy houses as Russians. There are no restrictions in law. There are no additional discounts due to different visas held by foreigners. Even if they have their own house, they will not Reduce the difficulty of obtaining a work card. But it adds some more obligations."

For example, foreigners who are homeowners, like Russians, have to pay real estate tax, which is 0.3-2% of the house price. The specific amount depends on the size, quality and location of the house. When selling a house, foreigners have to pay 30% tax. Except for foreigners with permanent residency.

Mr. Ma said that few of my compatriots take this into consideration when buying a house. He went on to say: "I think most Chinese people who buy houses don't understand Russian laws. To be honest, I didn't know this in detail before."

In the eyes of experts in the real estate market, the people who buy cheap houses in Moscow are the heads of state-owned enterprises in Russia or the owners of ordinary private companies. They are rarely interested in Russian luxury houses. The rich in China are more willing to buy houses in the UK or the US.

The article is reproduced from Reference News Network

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