The Chinese rushed to buy property in Greece

the Demand of Chinese investors in real estate in Greece remains high and reached a peak during the period of the spread of coronavirus. Greece is considered one of the safest in the epidemic countries, reports Greek Reporter.

According to the study of Asian holding company Juwai IQI, the number of requests the Chinese to purchase property in other countries has sharply increased in connection with the spread of the coronavirus. In particular, the demand for housing in Greece in the first quarter of 2020 increased by 109 percent compared to the first quarter of 2019, which was the highest increase among other countries, to which the Chinese have expressed a particular interest.

In the first quarter, investors from China also rushed to buy real estate in Germany (demand growth by 75%), USA (48 percent), the UK (10 per cent) and the Philippines (7 percent). The study Juwai IQI it was also noted that the increased popularity is associated with the rapid growth of prices, good market conditions, strong political ties between Athens and Beijing, as well as large-scale Chinese corporate investments.

in addition, the important role played by available program, Golden visa (Golden Visa), which provides for, among other things, a permanent residence permit in Greece for Chinese citizens investing over 250 million euros (20 million rubles). According to the Ministry of Greece on migration and asylum, about 86 percent of the “Golden visas” issued to main applicants in the year 2019, has received Chinese investors, while in 2018 they accounted for just over 40 percent. According to the report Juwai IQI, if Greece will build on the success, you will be able to regain share of Chinese investment on its rivals — the US and the UK.

Greece is also preparing for the opening of the tourist season in June. It is expected that Greek resorts, which recorded few cases of infection with coronavirus will be highly in demand.