"About 30 to 40 percent of our clients are from abroad, including some Hong Kong residents," said Mai Zhichang, general manager for Beijing at Socam Development.
Some 90 percent of one of the developer's sites, located near the city's eastern business and recreational center, has been sold since its opening last year. Mai pointed out that foreigners who pay taxes for more than a year in Beijing are eligible for house purchases, which is very conducive to sales.
For Chinese families without a local residence permit, the required tax-paying term is extended to five years before they can purchase a home.
Beijing is one of the pioneer cities in China that have imposed a raft of measures aiming to rein in housing prices amid nationwide concerns about an overheated economy since April 2010.
The government has since repeatedly reiterated its firm stance on property market control and vowed to keep in place measures such as higher down payments, bans on third-home purchases and property tax trials.
Despite the restrictive measures and this year's grim economic conditions, the country's overall real estate market is showing signs of recovery.
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