The number of Chinese residents in Spain has historically been nearly two per cent. Now, it has increased to three per cent, thus representing a 30 to 40 per cent increase in Chinese clients overall. In addition, it’s even higher in some parts of Madrid, reaching six to seven per cent.
Such estimations have been made through a report from ABC news, SchengenVisaInfo reports.
According to the same source, while basic propaganda may contribute, it’s not the main factor explaining this expansion.
It is another strategy for attracting properties, a buyer who contacts the seller directly through alternative channels, by word of mouth or through advertisements, and who does not go through traditional real estate agencies.
He said the company has an important portfolio of international clients and investors, particularly those from Asian countries.
We have an important portfolio of international clients and investors, especially Asians. Our real estate investment department specialises in Visa Gold for investors.
According to Font, apartments below €500,000 take about two or three months to sell, while those above a million can be extended for a period of six months.
In any case, a salesperson points out, there is no need to. The investment to obtain the ‘golden visa’ is made in one go. They can buy two houses at the same time, which adds up to that amount between them.
Changes to the Program
Spain’s Golden Visa Program allows wealthy foreign investors to acquire residency in this country in exchange for financial investments. Applicants should also meet some needed requirements when planning to become part of this program.
However, European Golden Visa Programs, which attract a large number of internationals, are often criticised for being involved in irregular affairs such as corruption and money laundering.
Last year, the Head of the Spanish Mas Pais party, Ingio Errejon, said that he reached a preliminary agreement with the Social Security Ministry to abolish the program.
Last year, local media reports also said that the government is considering either increasing the minimum investment required for the Golden Visa Scheme or abolishing the program.
Spanish citizenship cannot be bought.
According to a report from ABC News, for a period between 2013, when the program was introduced, and 2022, a total of 4,940 were issued. The same source notes that 2,263 ended up in the hands of Chinese citizens, or more than double the number of Russians.
