“Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers. Southern Europe is the latest target for rich Chinese homebuyers, who have been snapping up properties from Vancouver to London since 2010 as their wealth swells and China’s government steps up a three-year campaign to cool home prices there. The number of millionaires in China rose 4 percent from the previous 12 months to 2.8 million.”
http://www.bloomberg.com/news/2013-08-21/needy-eu-nations-woo-chinese-home-buyers-to-ease-slump.html
Related posts:
Hong Kong agrees to hand financial details of Americans to IRS
Bin Laden son-in-law court appearance reignites debate over handling of terrorism cases
Analysts: 'Gold miners drop over 50% with no bottom in sight'
France gives green light to holiday home tax hike
More countries abolishing capital punishment, but some returning to it
Seizing epileptic boy's cannabis oil at Heathrow signed his death warrant: mother
Jobless Greeks Resolved to Work Clean Toilets in Sweden
For Virtual Prospectors, Life in the Bitcoin Mines Gets Real
Silicon Valley can’t keep up with Korea’s financial revolution
An attack on free speech in North Carolina
US, UK soldiers wear terrorist YPG uniforms in Syria camps
Tests Show 0.00% BAC, Retired Firefighter Arrested For DUI & Car Impounded Anyway
Web inventor warns governments: Internet has no off switch
Owner of 'Obama Gas Station' faces tax evasion charges
California's War on Guns Broadens to a War on Ammunition