During the last week there have been a couple of interesting articles(here and here) which talk about the growing interest of Chinese investors in the Spanish real estate market, and specifically in the hotel market.
The concept of “sun and beach” does not fit too well with Chinese culture. This is because being brown in China is associated with country people and also the sea produces a lot of respect and most people bathe with giant floats to avoid scares. However, I am aware that approaches are being made to buy hotels on the Mediterranean coast to promote Chinese tourism in an “all-in-one” mode, similar to what we Europeans do when we travel to places like Punta Cana. Tourism by Chinese and for Chinese.
In addition to this, which is of interest, the apartments could be a good investment location for large foreign capital. Prices are on a downward trend and all indications are that they will bottom out sometime between 2014 and 2016. It does not seem unreasonable to think about the purchase of highly devalued second homes, the purchase of which is nowadays very difficult given the lack of credit in the EU.
Could brokering with China for investors to access our real estate market be good business? It would be possible as long as a juicy product suitable to their interests was offered. Large developments such as “Marina D’Or” oriented to be Chinese vacation micro-cities, or in general service packages that would make tourists never have to leave their environment at any time.
What do you think?
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