Spain is one of the favourite countries where buy a home for Chinese people
Recently ElPais.com has published an interesting article related with the increasing interest of the Spanish property market among the Chinese buyers and investors (Apetito chino por el ladrillo español). The conclusions pointed in this texts are quite interesting, as the potential of Chinese market can be key to boost the recovery of the real estate sector in Spain.
One of the main indicators of the Chinese consumers’ behavior in relation with the property market can be the statistics provided by Juwai, the main Chinese website about properties abroad. In this regard, the searches made by Chinese users of Juwai shows that Spain is in seventh position in the ranking for those who are looking for a new home abroad. The most demanded areas are the two big capitals (Madrid and Barcelona) as well as some smaller cities with great tourist offer and competitive prices like Valencia, Alicante or Marbella.
The United States, Australia, Canada, the United Kingdom, Thailand and New Zealand are the countries in a higher position in relation with Spain.
The factors that are causing the increase in the interest among Chinese investors are the good opportunities in the property market, as well as the greater knowledge the Chinese have about the Spanish culture. Chinese people are indeed well integrated in industrial areas of Spain, where they already know perfectly the social characteristics.
In addition, Chinese citizens enjoy each time of a better economic situation and they know that to invest in the purchase of housing in Spain could bring benefits in less than 10 years.
The Chinese population also value the so-called ‘Golden Visa’, that allows foreign citizens to obtain a residence visa in Spain (and therefore access to the entire Schengen area) if they purchase a property for more than € 500,00. In contrast, immigration policies to investors are becoming stronger in countries such as the United States, Canada or Australia.