In China the foreigners have the same rights to purchasing house as the chinese. Due to the economic environment in China, the real estate price will be double in two years. For those who want to have a holiday or retirment residence in China, Hainan island is the paradise, especialy Sanya. it is like Hawaii, sand beach, palm trees, hotsprings, golfs etc. now the price is reasonable, I preview in two years it will double or triple.
here is a site about hainan www.hainandiscovery.com
I just bought one apartment in Sanya, with sea sight view, it is about 1200$/m2. top quality, like 5 stars hotel.
for more information, please send me a email.