[2020-09-28] Chinese splash out on high-end property in Portugal in 2019

Source: Macauhub

Official figures show that the average price per transaction of high-end real estate bought by Chinese in Portugal last year was over 373,000 euros (about US$437,000), over twice the average price that buyers abroad in general paid for such property.

The Portuguese National Statistics Institute published data indicating that Chinese spent 165.3 million euros on 443 purchases of property in Portugal last year, and that only four other foreign nationalities spent more.

The data indicate that 56.7 percent of the sum Chinese invested was spent in just 137 transactions worth over 500,000 euros each.

Of the total invested by Chinese in property in Portugal last year, 11 percent was spent on property in or around Lisbon, the Portuguese National Statistics Institute figures show.