Which Governmental agencies monitor land sales and transactions?
The State Land Management Department monitors all sales and transactions of land in China. Authority limits are set for each level of government concerning the sale and transactions of land. For example, at county level, the authority limit is only 3mu(Chinese acres) for cultivated land and not exceeding 10 mu for other land. Any contracts that exceed these authority limits are automatically void. In such instances, the proceeds from the contract will be confiscated.
Is it possible for foreigners to buy property in Shanghai?
Yes. Whilst in the past it was very difficult for foreigners to purchase property in Shanghai (and throughout China), the Government has realized the market potential and the Shanghai Municipal Government have changed the regulatory framework regarding real estate and have now afforded foreigners the same rights as local Chinese with regard to purchasing property.
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