Chinese buyers are now key players in Barcelona’s property market

Chinese families are the biggest foreign investors in property in Barcelona, and over the last two years, the number of Chinese companies buying properties in the city has also increased.

Adapted translation of an article published by the Spanish daily El Mundo.

“Barcelona has made a name and a niche for itself in the Chinese market,” said Lidan Qi, CEO of Qimeng Global consultancy company, speaking at Barcelona Meeting Point, the benchmark property show organised in the city. “Chinese business people look to diversity their assets by buying buildings or plots.”

For Asian investors, property is a more secure and tangible asset than stocks and shares. They arrived in Spain after the fall in prices brought on by the property crisis in 2008. According to Qi, another reason for the arrival en masse over the last few years is due to the Enterprise Support Law (also known as the Spanish Golden Visa scheme) that allows Chinese investors to move freely in Spain and EU, and makes it easier for them to get a residence permit.

The main reason why Chinese people decide to buy a second home in Barcelona is “because it’s a pleasant and welcoming city,” explained Qi. The Chinese are attracted to the climate and local cuisine. Buying a property in Barcelona also opens the door to a residence permit, and allows them to give their children great education thanks to the prestigious international schools in the city. As far as areas are concerned, Chinese buyers focus particularly on Barcelona’s Eixample district, and other uptown areas.

China overtook France as the biggest foreign market for property in Barcelona in 2015. Property in Barcelona is now firmly on the Chinese investor’s radar.

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