Friday, June 7, 2013

Buy Europe by China…Speculators Jumps

European economies are opening up the gates for selling their assets to the Chinese economy. The Chinese government has taken substantial measures to boost corporate investment in Central and Eastern Europe. Debt crisis of Europe has changed landscape of business opportunities for the global economy. Chinese investments are finding the ways of investments in particular in fields such as infrastructure, energy and high-tech. Southern Europe’s cash-strapped governments are wooing wealthy home buyers from overseas by offering so-called golden visas to purchasers of high-end properties. Portugal, Greece, and Cyprus are offering temporary-residency permits to foreign investors, and Spain is about to kick off its program. In Portugal buyers must pay a minimum of €500,000 ($670,000) for a property to be eligible for a five-year residency permit. A total of 102 visas has been granted since the program began last year, according to the Portuguese Immigration and Borders Service where as Cyprus is already “booming with Chinese investors. In my research I have found that every day there are more than 20 Chinese nationals landing in Cyprus to search for property. The falling economy of Europe is finding its growth of property market from Chinese buyers hence those who are betting highly that the European economy is on the path of growth are just providing half information. While some wealthier European countries also grant special resident visas for investors, most require larger outlays and may not involve real estate. The U.K., for instance, grants special visas to individuals with at least 1 million pounds ($1.6 million) to invest in the country. Buyers from mainland China typically look for immigration opportunities in southern Europe for their families because of the drop in real estate prices. It is well clear that china is the king of the world economy in terms of monetary and strategy strength wise. But I find that Europe property market growth cannot be treated as n economic growth prospects. Its just an deal making policy which is going for an temporary phase. Rich Chinese nationals are investing and are doing shopping for the global assets.

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