“Golden Visa” Illuminates Spain on Chinese Maps

19/05/2014 – El Economista

For the Chinese, Spain does not only mean nice weather and football. Instead, thanks to the “Golden Visa”, it turns into a destination to buy a house and even move and raise children.

Since September last year, Spanish Government grants residence permit in exchange for a real estate investment of half a billion Euros or more.

At last week´s Luxury Property Showcase (LPS) in Pekin, Spain played the main role. “Each year we pick one of the 30 partner countries and the Chinese have a good picture of Spain”, explains Ashley Woo.

Guifre Homedes from Barcelona-based firm Amat who came to Pekin says “About 50% of investors from China is interested in emigration, while the other 50% would only invest. First of all, they ask about properties for more than €500.000 with view to obtaining the Visa”.

The Chinese mostly target single-family houses, warehouses or even hotels (greatly) in Madrid, Barcelona or Marbella. They also query about legal issues, international schools in the nearest vicinity of the property or the air quality.

For the Chinese market, “the decisions are taken cautiously as a Chinese is not used to buy overseas”, says an expert.

 

Original article: El Economista (by Tamara Gil)

Translation: AURA REE

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