Chinese want to return to real estate purchases and Portugal is on the list

Financial Times mentions that as Chinese investors are considering returning to the international property markets, Portugal is among the most sought-after destinations. 

According to the British newspaper, Sodichan, a property portal for Chinese buyers looking for properties worldwide, saw a 300% increase in inquiries compared to the previous six-week period. 

In this research there are some most sought after destinations, such as the USA, Canada and Australia, with good economies and attractive educational systems. On a second level, there are cheaper destinations, but off the radar for Chinese buyers, such as Estonia, Romania and Morocco. And third are the countries that offer investment programs entitled to citizenship, including Greece, Spain and Portugal.

The Financial Times also writes that in the first three months of the year, the SnowOnly property portal registered an increase of 100% in relation to the previous quarter in queries on the Chinese market.

In addition, since early March, Marc Schneiderman, director of Arlington Residential, says he has received 15 "credible inquiries" from Chinese buyers looking for luxury areas in North London. The prospect of a price drop in the British capital has increased demand. 

"Chinese buyers are looking for investment opportunities," reveals Victoria Garrett, director of Knight Frank's residential department for the Asia-Pacific region, based in Singapore. "But the objective is to educate their children abroad".

Despite the interest, sales are still suspended until the end of this time of uncertainty due to the pandemic and when it will end.