Engel & Volkers Spain gears up to target Chinese investors

Engel & Völkers the leading international German real estate company focusing on high end property has recently developed a Metropolitan Market Centre based in the city’s Avenida Diagonal is now actively targeting the Chinese market with the recruitment of two Chinese real estate specialists to cater for the growing number of Chinese investors coming into the market and ahead of the new Spanish Government legislation for non EU buyers.

Says Joan-Galo Macia, Director General, Engel & Völkers Metropolitan Market Centre in Barcelona; “We have already seen Chinese buyers starting to show interest in investing in the city as a second home destination and we anticipate that this demand will substantially increase over the coming months. Now, with our new Mandarin speaking team members, we will be prepared to serve this developing buyer when the new Golden Visa legislation comes into force in 2014.

Apart from the big Chinese buyers looking for properties at the top end there are also a growing number of mid range Chinese buyer looking to legally acquire a second home outside of China in the 500,000 Euros range. They are attracted by Spain’s excellent climate and the possibility of buying a property close to the sea with good infrastructure, health and education facilities”.

In Barcelona, the areas most requested by Chinese investors are mainly Vallvidrera, Gracia and some residential developments on the city’s outskirts. These buyers prefer views across the sea or over the city with a minimum of 400m2 constructed area and garden area of around 1,000m2. They like to be close to other Chinese compatriots and with easy access to schools, commercial centres and beaches. Many of the properties they are looking to buy will be reconverted into meeting places or homes for short stays.

Engel & Völkers Spain features over 8,800 properties on their website: engevoelkers.es