Spain gains popularity among Chinese investors looking to target for your real estate investments. It is the most attractive country in the Mediterranean basin, ahead of Italy. That is clear from a report of the Chinese portal Juwai, picked up by his Spanish counterpart Idealista.com.
The study reveals that purchase intent has raised a 292% in the last year, a 88% compared with the previous quarter. Investors, In addition, they are running high: the report puts in 1,03 millions of dollars (a few 917.000 euros to change) the real estate assets-average disbursement. An expense that has raised a 9% with respect to the previous year.
"During the past year, Barcelona has by far been the most popular destination among Chinese looking for properties in which to invest, followed by Valencia, Madrid and Marbella", reads the report. And adds that, for the first time, in the second quarter of 2015 lValencian capital has managed to overcome the Catalan in purchase intent, Although the Chinese portal puts in question the trend could be held in time. "It remains to be seen how long lasts", says verbatim.
Key figures
292% purchase intent in real estate assets of the Chinese in Spain has grown in the last year.
1,03 millions of dollars (a few 917.000 euros) It is spending half of investors, a 9% more than the previous year.
The portal Juwai attributed this surge of interest in this area to the fall of prices in the Spanish market, trait shared by the rest of the countries analyzed in this geographical area: Italy, Portugal, Greece and Cyprus. The latter country is that more grows in purchase intent (a 351%), While Spain is much higher in absolute terms.
Other factors that explain this renewed interest in the estate Park of the region have been the increase in the wealth of Chinese citizens, programs of visas in Exchange for investment which have been established in most of these countries and the adjustment of price with respect to other places.
But the Mediterranean is not, far, the most attractive region for Chinese. That honor falls only in Anglo-Saxon countries: United States, Australia, Canada, United Kingdom and New ZealandThey monopolize the top.
Responsible for studies of Idealista.com, Fernando Encinar, It says that "Although agencies work hard, especially in the last year, to accommodate this demand, many are not prepared”. The lack of knowledge about Chinese culture and language problems can do to derail, Encinar says, many transactions. "Professionals from other countries, such as USA and Australia, They carried years working with Asian investors", points.
Greater presence and more business
The Chinese population in Spain is has more than tripled in the last decade, passing of the 51.000 national of 2003 to the 182.000 accounted for in 2013. Have also increased economic ties between the two countries: in the last ten years a quarantine of real estate projects , including the purchase of the building, Madrid Spain, they have meant the investment of some of 1.000 million euros.
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