The Chinese occupy the markets of southern Europe

The Chinese occupy the markets of southern Europe

An unprecedented influx of investors from China is registered in Cyprus, Portugal and Greece. The choice in favor of these countries is based on the possibility to obtain a residence permit in exchange for the purchase of real estate, informs ee24.com citing ekathimerini.com.

Spain also intends to compete for Asian investors, increasing the cost of the "golden residence permit" ("golden visa") as the Pyrenean neighbors, the Portuguese, where it's amounted to € 500,000. For comparison, you can buy property for €250,000 and €300,000 for obtaining residence permit in Greece and Cyprus respectively.

Some developed European countries have also introduced a program to provide residence permit to foreign investors, but they usually involve very large cash infusion into the economy of the country and do not always relate to the acquisition of property. It is less attractive for the Chinese.

Low prices are also an incentive for Chinese families who are seeking to immigrate to Europe. Residence permit allows not only live, but also to move around the Schengen zone countries. Among Chinese investors , there are those who simply invests surplus funds in real estate, not going to live there.

In Europe the "golden visa" (residence permit in exchange for investments) is acted in Portugal (the minimum threshold - €500,000), Greece (€250,000), Cyprus (€300,000), Latvia (€142,000 or €71,000 depending on the region), Bulgaria (€300,000), Turkey (starting a business or buying real estate is the basis for obtaining a residence permit in the country).