In the past, Chinese individuals preferred to purchase properties in the United States and Canada; however, these countries do not offer residency through property purchase. In response, various European countries have introduced policies linking property purchases to immigration status to stimulate their economies and attract investment. Compared to the stringent requirements imposed by traditional immigration countries on new immigrants, these policies are significantly more lenient. The year 2013 was dubbed the "Year of European Immigration," with Chinese investors actively inspecting properties in Portugal, Greece, Spain, and Cyprus. Despite this, the industry still views 2013 as merely a "trial period" for European property immigration, anticipating a "surge" in 2014, as European property immigration continues to thrive.
According to data released by Jones Lang LaSalle, the total value of Chinese overseas real estate transactions has surpassed $5 billion as of 2013, breaking the previous record of $4 billion set in 2012. In contrast to the 17% quarter-on-quarter growth in China's domestic real estate investment market, the significant increase in overseas investment is noteworthy, with Europe being the most active market. External factors such as the appreciation of the Renminbi, the recovery of the European market, and the ability to obtain European residency for the entire family through simple property purchases have provided strong incentives for overseas investors. Internally, the domestic real estate market is affected by purchase restrictions, leading to a situation in first-tier cities where there is "demand for property purchases but no eligibility to buy," while the appreciation of the Renminbi has prompted those with idle funds to seek overseas property investments to preserve and increase their assets.
Currently, various European countries are showing signs of economic recovery to varying degrees, particularly reflected in the real estate market. Although the recovery of the European housing market is aided by government policies, Chinese capital has also played a significant role. Chinese buying groups are present worldwide. Surprisingly, while many European middle-class individuals are struggling under heavy mortgage burdens, 70% of Chinese homebuyers are paying in cash upfront.
European countries that have introduced property immigration policies earlier, such as Lisbon in Portugal, are experiencing a tightening of housing supply due to a large influx of overseas investors. Spain, due to its larger size and greater property selection, will also be highly attractive in 2014. Furthermore, investors can choose the most suitable immigration country based on their immigration needs by referring to the details of property immigration policies in various European countries regarding investment amounts, work restrictions, visas, educational benefits for children, and residency rights.