With the introduction of unprecedented real estate policies such as loan restrictions, purchase restrictions, and property taxes, domestic property maintenance costs have risen, and the investment climate has become less optimistic. This has led Chinese real estate investors to look globally, fueling a trend of purchasing property overseas. Domestic purchase restriction policies have led to a surge in overseas properties, and at the Shenzhen Real Estate Fair, which opened on May 1st, there were over 250 overseas projects on display.
At this Shenzhen Real Estate Fair, Worldway Immigration Group took the lead, occupying the entire European and American exhibition area with strategic partners from eight countries. The scene was exceptionally vibrant and received widespread media attention. A spokesperson for Worldway stated in an interview with Shenzhen TV: “Most overseas properties offer freehold ownership, high cost-effectiveness, and attractive rental yields. European countries, in particular, are seeing property prices at a trough due to the European debt crisis. European countries like Cyprus and Portugal have just opened investment-based immigration policies. Investing in property to obtain the status to freely travel through Europe and enjoy local resident benefits is very attractive to domestic investors.”
As a strategic partner of Worldway, a well-known exhibitor from Cyprus stated with great pleasure that the properties he brought were very popular; in just two days, single-family villas worth over 300,000 Euros were completely sold out.
At the beginning of 2012, Worldway was the first to establish independent, self-owned customer service centers in Europe to provide investors with a full range of considerate services, including property inspection, immigration application, and landing settlement. On the first day of the Shenzhen Real Estate Fair, the Worldway European and American pavilion received thousands of prospective client inquiries, showing very strong purchasing intent, with dozens of client groups signing site-visit agreements for Europe on the spot. After the fair, Worldway will arrange several inspection tours to Cyprus and Portugal, with a majority of participants being clients who transacted during the exhibition.
Ms. Wang, a Shenzhen resident, expressed at the Worldway Investment Immigration Consulting Center: “My child is studying in Portugal, but it is very inconvenient for us to visit him with a visa. It was only after coming to the exhibition that I learned about the property investment immigration policy in Portugal. The approval process is fast, and with residency status, we can visit him at any time, travel to other European countries, and earn rental income. Furthermore, the property is freehold and can be passed down for generations. This visit to the exhibition has been incredibly rewarding.”
Against the backdrop of persistently high domestic property prices, current real estate exhibitions have become more akin to immigration fairs. The high level of interest and volume of contracts signed at the Worldway European and American pavilion at the Shenzhen Real Estate Fair have undoubtedly sparked a new wave of investment-based immigration once again.
