Chinese Buyers Start Eyeing Homes Abroad Once Again

14 May 2020 A partial return to normality after the pandemic lockdown in China, where the first country to get hit with the virus is also the first to begin opening up again, is leading to a resumption in interest by Chinese investors in real estate abroad. While the world economy continues in dire straits, and market watchers forecast falling real estate prices.

The economic situation is not optimistic, and all indications are that prices will continue to fall. Several overseas Chinese real estate portals, however, have seen visits rise in the last six weeks, compared to the same period in January and February.

The agencies, according to an article in the Financial Times, state that the main countries of interest are the US, Canada and Australia, which have strong economies (except for now) and attractive educational systems. But other places, such as Estonia, Romania, Morocco, Greece, Spain and Portugal are also in demand.  The Chinese continue to be the main buyers of golden visas in Portugal, for example. The UK, where wealthy Chinese buyers often seek to send their children to study, is also seeing increased interest.

The increased signs of interest, however, have yet to lead to concrete sales, and travel and the ability to visit homes continues to be severely restricted.

Original Story: Idealista

Translation/Summary: Richard D. Turner

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