(ECNS) -- Most Chinese people are not interested in acquiring residence in Spain by buying a house there, confounding the expectations of local real estate agents, according to a Spain-based Chinese-language website.
Many Chinese Spaniards had expected more from the policy, which allows foreigners to get residency permits if they buy houses worth more than 160,000 euros (US$212,256), but received a cold reception at a recent property fair in China, reports eulam.com.
A Chinese Spaniard, who publicized the policy in Shanghai, said Chinese had learned through the media that the residence permit is different from the one acquired by immigration, and not as favorable.
Spain is also not a popular expat destination for Chinese, he added, and its current financial crisis has made many lose interest in buying property there.
Safety issues have also scared off some investors, according to the report.
Chinese investors in Detroit warned of risk
2013-07-29ASEAN nations keen to attract Chinese investors
2013-07-28Pakistani PM woos Chinese investors in energy sector
2013-07-08Chinese investors look overseas
2013-05-20Greek Prime Minister seeks to woo Chinese investors
2013-05-20Chinese investors eyeing Europe
2013-04-15Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.