Chinese invested EUR 120 million in Lisbon homes last year

 

Chinese nationals invested last year EUR 120 million in residencial real estate in Lisbon, Portugal, which saw record ammounts of foreign investment.

The capital invested by foreign citizens reached EUR 923.1 million euros, in a total of 1.767 homes, according to statistics by Confidencial Imobiliário.

The average value per operation for the first time surpassed the half million euros threshold, standing at EUR 523 thousand, the same source adds.

Portugal Golden Visa Scheme to Remain Attractive Despite Changes, Experts Say

Foreign investment accounted for 38% of the total invested in 2021 in the acquisition of homes by individuals in  Lisbon´s center, a growth of 21% compared to the previous peak, reached in 2019.

Also in the number of properties acquired, there was an increase of 15% compared to 2020 and of almost 6% compared to 2019.

According to Ricardo Guimarães, director of Confidencial Imobiliário, the result owed to a boost in the second half of 2021, due “to the demand related to golden visas, whose rules would change at the beginning of this year, with strong restrictions on the eligibility of the acquisition of real estate in Lisbon”.

Golden visa investment in Portugal up with requests from U.S. and China leading

U.S. citizens invested EUR 134 million in the purchase of homes, ahead of the french (EUR 126.1 million) and  Chinese (EUR 119.7 million), who had led in the last two years. UK citizens almost doubled the value of purchases, accounting for an amount of EUR 91.4 million, ahead of Brazilians (EUR 67.7 million).

In 2021, the Portuguese invsted EUR 1.535 million in housing in Lisbon, an increase of 34% compared to 2020 and 10% when compared to the pre-pandemic year. In 4.354 home acquisitions, the average ticket soared to more than EUR 353 thousand, a record value.

Lisbon´s residential market generated a total investment of EUR 2.46 billion euros, 29% more than in 2020.

 

Other articles

China

Ho family´s Estoril-Sol ensures concession of casinos in Portugal for 15 years

China

Portuguese pharma company to launch “very promising” Parkinson treatment based on University of Macau research