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Interesting And Long Reddit Thread About Chinese Buying Up Global Property And Pricing Out Local Buyers

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Quite a few gems in here

Come to Australia, it's probably worse. It seems like every auction is going to foreigners who always seem to be Chinese.. Not that I have a problem with that... but what is messed up is the majority of the time they don't even buy the properties to live in them. They buy them and they stay vacant for a year or two until they sell them for a higher price. They're pricing all young adults wayyyyy out of the market unless you want to move into the country.

This will probably be buried but the reason behind all the chinese buying property in Portugal is due to the Golden Visa.

With a Golden Visa they acquire all the perks of being a european citizen without paying taxes or even have residence in our country.

For more info just google golden visa Portugal.

They've got to get out of their local currency and into ANY kind of hard asset while they still can.

http://www.reddit.com/r/worldnews/comments/2l5klq/portugal_sees_chinese_do_90_of_bids_at_property/

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