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Dear Portugal, Meet Your New Landlord - China
With Wall Street having bid real estate prices to the moon in the US (and become Spain's biggest slumlord), and handed them happily over to willing Chinese 'get-my-money-out-of-China' buyer greater-fools, it would appear the Chinese (having colonized America) have found a new more attractive place to park their excess liquidity. As Bloomberg reports, at a property auction in Lisbon, Portugal last month, about 90% of the bidders for the government-owned apartments and stores on offer were Chinese. They ended up acquiring more than two-thirds of the 45 properties, with one money-launderer investor noting "Lisbon is cheap if you compare it with other cities."
1-in-4 homes bought by foreigners in America in 2014 were by Chinese.. and Portugal is already at 1-in-5...
Portugal is the latest target for Chinese investors who have been acquiring buildings around the world as China allows freer movement of funds in and out of the country.
The Chinese accounted for almost one in five foreign property purchases in Portugal during the first nine months, according to the Lisbon-based Portuguese Real Estate Professionals and Brokers Association. They already represent the biggest group of foreign buyers based on money invested, said Luis Lima, head of the association.
...
“Lisbon is cheap if you compare it with other cities,” he said. “The economy is improving and there are some good deals to be done here.”
...
For buyers from outside the European Union, there’s also the prospect of a visa. Chinese investors are the top beneficiaries of Portugal’s property-for-visa program, which enables buyers of property worth 500,000 euros or more to live in Portugal and travel freely within the EU.
...
Chinese bidders may be congratulating each other on their purchases for some time to come, unless Portugal’s economic recovery starts to pick up steam. An unemployment rate of 13.9 percent and years of tax increases mean that most local investors are unable to outbid their Chinese counterparts.
“It’s obvious that the Portuguese can’t compete with the Chinese investors at these auctions because they don’t have cash available to spend,” said Nuno Durao, the head of real estate company Fine & Country, which specializes in the sale of residential luxury real estate. “Lisbon property auction rooms would be empty if it wasn’t for foreign property buyers.”
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What could possibly go wrong?
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Why do you care where the Chinese spend their money? When cold war 2.0 gets ramped up we'll civil forfeiture it all back.
that sure sounds like true American principles ... proving to the world again and again that we are not to be trusted.
You trust any government and you're a fool.
China Canada. ....thought they were the same country......
Government attracts the corrupt and power hungry. That never changes no matter the country. Are some people better at resisting that temptation, sure, but that doesn't mean it's gone. Never trust any government.
"civil forfeiture it all back"
war won't be so cold then...
Nothing
Chinese commerce will rule the earth.
Welcome to the new world order.
Zion fucked up and killed too many millions of humans.
No one likes Him now.
Ash nazg durbatuluk
Ash nazg gimbatul
Ash nazg thrakatuluk agh burzum-ishi krimpatul
DURKA DURKA DURKA!
My thoughts exactly.
If China's so fucking awesome how come the first thing the Chinese do when obtaining real wealth is to buy stuff OUTSIDE China?
Could it be they fear their own government taking it from them more than the governments of the round eye?
There's a lesson in here somewhere. I doubt the lesson is as simple as "China's going to buy the rest of the world." I've seen that play before with the Japanese in the 1980s. It didn't work out too well for them.
Mb because Chinese already bought all in China?
I have seen tons of China Towns around the world and they just keep getting stronger and growing in numbers. Something the Japanese never had at their zenith. The Chinese are not Japan by far. Chinese are successful colonizers, the Japanese are NOT
Colonizers ? Hardly.
An intelligence and commercial network that spans the globe ? For sure.
A few decads back, China was one of the most poor countries on the planet, mind you, it is still relatively poor compared to the West. Naturally, people who get really rich there want to make sure that they will have a way out of things turn bad one day (which is definitely possible) It is also a fact, that overall life quality is still better in many parts of the West than it is in many parts of China. What is so awesome about China is that they have managed the most astonishing economic development in the history of mankind, especially if one considers the extremely low starting point and the colossal size of the country.
Oh yeah. If they're so hot why can't you drink the tap water there without getting deathly sick? How about their lung cancer rate ... it's off the charts. Their growth has been strong but at what cost?
No the reasons are simple:
1 They are converting Chinese paper into actual real assets.
2 China has a nasty habit of executing all classes of criminals, especially when things get bad unlike here in the U.S. So when your rich and your wealth Ill-gotten it's best to have a bolt hole in the West.
you guys have it wrong, the reasons why they spend out of china is for one simple answer - to show off their wealth to the white people. You'll find them in the LV store in Paris, Toronto, New York.
Re "I've seen that play before with the Japanese in the 1980s. It didn't work out too well for them." :
Very roughly speaking,
Population Japan = 120 M
Population China = 1 300 M
So I would expect the Chinese impact to be roughly ten times larger than the Japanese impact.
Needless to say, this is a very coarse way of looking at things - assuming that ten times the population translates to ten times as many rich people, ten times the sales ( as opposed to the same sales diluted amongst ten times as many business owners ) etc.
That's just me displaying my ignorance. Anyone out there got details of the truth?
Once calvary was important on the battlefield as well, but now it really doesn't matter how many horses you have. Population in the future will be a liability instead of an asset. What good is cheap labor in a world of automation? Not much when you have to feed it.
You cant fuck a robot. Gotta have an ample supply of impoverished women to satisfy the needs of the kleptocrats
You're so wrong it's actually funny. I'm sure you're thinking of a robot that is indistinguishable from a real person, and yes that's a long way off. A thing never begins where it ends.
http://www.gizmag.com/realtouch-virtual-sex-device-for-men/14126/
This residential stuff is a red herring and WGAF about residential.
What are the numbers for US commercial realestate and productive assets purchased by China?
this is not news, the chinese are everywhere I can tell you they are also in Romania.
Romania should really turn to China to buy their weapons, USA too expensive, they dont get along with the Russians, that leaves China. And Romania I think has the third largest port in Europe. They really should foster a relationship like Pakistan has with China. When USA dollar goes kaput so will USA ability to defend Romania vs Russia. China is Romania's only hope in a sea of Slavs. If Chinese are firmly entrenched in Romania the Russians wont go there.
Ha! Ha! Ha! Ha! Ha!
A tummy hurts from laughing so much!
explain:
In the last crisis I commented on some blogs Portuguese.
Told them that the exit to Portugal was dropping out of the Euro and return to a state of Brazil Overseas.
Drawn for the guys that would be the BRICS and that Portugal already had this status when Dom João VI came to Brazil to escape Napoleon.
Took many beatings in the comment boxes.
Portuguese with all conceit is telling Europeans.
We looked first world just because they are in the Eurozone.
When I got tired of being beaten told them not to come over to the herd in Brazil every difficulty that its economy going.
It was like a child who is rejected by his father and when his father is old, the child puts in a nursing home.
This post has a bittersweet taste.
Like the Portuguese, are the mother of the nation but Brazil, are obsolete.
Expelled the Romans expelled the Moors but I believe not expel the Chinese.
Portuguese lost a great chance ....
hehe.
Well China is part of the BRICS. But I agree with you. Portugal should of said forget the EU and joined South Americas trading zone.
That would require European career politicians with some shreds of both integrity and ability, whereas the defining features seem to be that they have neither.
Enjoy that laughing, while you can... You're right, Europe is fu**** up, but Brazil hasn't learned ANYTHING from this side of the ocean's mistakes! Just two things, World Cup + Olympics... ;)
So Russian money is Non-existant?
Portugal is silently bailed out with $usd?
I love my country, but the creep is disturbing.
Yen Cross:
Let's talk in Portuguese:
Vocês, seus filhos-da-puta, tiveram a oportunidade de se juntar ao Brasil em inúmeros convênios e tratados d'álem mar.
Entraram na merda da zona do Euro, aquela putaria!
Um país como Portugal que não é mais nada do que o PIB do Estado do Ceará no Brasil se achou no direito de virar "Primeiro Mundo" e se fodeu de vermelho e branco.
Um monte de políticos iludidos pensando só no dinheiro que entrava e nunca pensou como pagar as contas, se lascaram. A população hoje está pagando um desemprego insano, imigração doida, bem estar europeu que custa caríssimo.
Viajo de Norte a Sul, de Leste a Oeste no meu Brasil e, quando ouço um sotaque português ou espanhol (os italianos são diferentes) metendo o sarrafo em nossos aeroportos eu falo para os caras voltarem para Europa.
Gosto dos italianos, eles são parecidos com os brasileiros e não se iludiram com o Euro.
Alemães e norte-americanos não comentam, ingleses sim (e quando encontro algum falando mal do meu Brasil eu também deixo bem claro que não é benvindo aqui).
Você encontrará muitos paulistas e alguns mineiros (do Estado de São Paulo e Minas Gerais) deslumbrados com gente que vem do exterior (Europa e USA) mas, no interior do Brasil, você terá uma resistência fenomenal aos estrangeiros.
A maioria já sabe o que vocês europeus e Banksters norte-americanos querem, nossas riquezas.
A consciência de que o Brasil é Nosso e de mais ninguém está a cada dia mais arraigada, pode crer.
Já se nos bastamos com nossos problemas, não precisamos de ninguém a apontá-los, nós sabemos.
O dinheiro Russo já saiu de Portugal a muito tempo e, recentemente se você não sabe, Portugal não pode recebe-lo porque só produz à Rússia bens agrícolas e, Rússia impôs sanção à venda desses produtos à União Européia.
Se você ama seu País, fique por aí ou, tente uma rota a Leste, andando até a Alemanha.
Atravessar o Oceano Atlântico nadando até o Brasil eu não recomendo.
hehe.
WOW!
Karaio- View
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RelationshipsProfessor de Geografia, Brasil, 52 anos, casado, 2 filhos.
Politicamente incorreto, não falo inglês (Google traduz) hehe.
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HistoryFollow this user's comment
You're a fuking nutjob
Yen Cross:
Are you happy?
Want to know more?
Roman Catholic Apostolic, former seminarian - SOVERDI - Society of the Divine Word, the Military Reserve (Infantry).
Two children of the second marriage (I'm on her third marriage and am vazectomizado), professor at the Federal University - two years, State - a year and a half, Teacher at private school - six years, gazetted as Professor in the state - 16 years - and the City I reside at 12 years.
Biker since the age of 14 when I started working and bought my first motorcycle, 125cc Yamaha RS-1977.
Shot with a gun at seven years old the first time in the city of Ponta Grossa-PR.
There I learned how to plant, hunt, live life without electricity much less tap water, go insane cold.
Degree in Geography, Bachelor's, University of Law not complete (missing one and a half).
Ten years of experience in managing the Environment (85-95).
No, my old man, I have no fear of exposing myself.
A guy like me who already took shot in the belly, has already shot to the mountains is not afraid of nothing at the end of life.
Speak the truth of what I know is pretty cool (in the sense of pleasure, not imbeciles lawyers).
There is a gap in my resume? There!
Do not want to know.
hehe.
Karaio, I think you are very cool and definitely not loco. You get my up votes most of the times.
@ Cosmos:
Thank you!
:-)
@ Cosmos:
Honestly, I did not understand the intent of the Yen expose me, or is too naive or is a troll of the worst kind.
For my part I never, ever under any circumstances "+" add in my comments.
Much less try to know who put "-" in my comments.
Sometimes I get and error on my account, there are several commentators asking my email to chat.
Let there requests, not accept or refuse, I like my privacy.
You can find me with Nick "Proftel" which has existed since 1995 in various comment boxes scattered around the web.
A guy with his personality does not change Nick-name or picture, who does it at least needs a psychiatrist, at most one piece of string, a window on the tenth floor or more recently a nail gun Kkkkkkkkkkkkkkkkkkk!
Most commentators forget that the keyboard and eyes are a window to the soul.
Easily identify in the comments, even translated by Google, people who change Nick-name and image.
I swear I'm sorry, we no personality, try to hide identity swapping.
Precisely why Tyler did not accept this "Proftel" was too jaded, and I opted for the Nick-Name "Karaio" - which is nothing more than a penis Jegue (crossing horse with donkey) thick and long in Portuguese-BR Kkkkkkkkkkkkkkkkkkkk!
I try to be the most sensible and sincere in my comments, I am not patriotic, nationalistic am.
I love my God, my country, my family, my work, in that order.
@ Cosmos do not know your time zone, just do not answer him yesterday because just today I read your comment.
If'm sorry.
Sincerely d'a guy who lives in Brazil.
:-)
"For my part I never, ever under any circumstances "+" add in my comments.
Much less try to know who put "-" in my comments."
is it possible to know who upvoted or downvoted one ?
Espero que o Brasil resolva os seus problemas de violência o quanto antes, mudava-me para lá num instante.
Também era bom que facto deixasse de ser fato no Brazil.
Lusitania is older than China .
Lusitania costs more than China can afford .
Even the Romans had to make an accommodation .
See
http://andreswhy.blogspot.com/2014/02/the-best-paid-athlete-ever.html
http://andreswhy.blogspot.com/2009/05/rome-vs-carthage.html
The Portuguese had a great 15th and 16th Century!
Well above average in Engineering & the like but hopeless in business or maybe non competitive in cooking the books like the UK ( who is? )
Even Germany is licking Chinese ass to stay ahead of the game.
Wise enough to know a man is a man is a man i would not be too disappointed to see Chinese justice ( in particular in relation to financial crimes ) in UwoP.
Personally I think Portugal should have told Spain to fuck off(2) centuries ago.
Yen, ouça e assista, sinta:
http://www.youtube.com/watch?v=VHQFmBrjLCM
:-)
When I say that Brazil has much more in common with Italians than with the Portuguese and the Spaniards is why:
http://www.youtube.com/watch?v=GOOjQgUyKVs&list=PLxhg8nVT8V0eYsN4e3l8MfT...
:-)
Let us not forget Roberto Carlos, equally gifted in singing in both languages.
https://www.youtube.com/watch?v=ab8bVouGtwU
What does portugal do anymore except football?
Portugal produces oil (which in my case gives one hell of a stomachache) and women with mustaches.
hehe
I'm currently in Lisbon. Charming city, very nice people, excellent food, and inexpensive. Ironically, I've been here for over two weeks, and can't recall having seen more than a couple of Chinese.
enjoy the fresh lobster and the vinho verde.
Now thats what I call "spreading the manure around".
Capitalism like water finds its own level.
I wouldn't want to be China's bitch...oh wait...we are.
Not just Portugal
http://newworldorderg20.wordpress.com/2014/11/05/china-not-an-enemy-chinas-richest-billionaires-are-buying-american/
http://newworldorderg20.wordpress.com/2014/11/09/chinese-investment-in-japanese-real-estate-climbs-sharply-just-like-in-the-u-s/
http://newworldorderg20.wordpress.com/2014/11/02/australia-offered-top-role-in-chinas-infrastructure-bank/
More at.....http://newworldorderg20.wordpress.com
Os chineses estão nas alcovas, assim como no Brasil eles só saem a noite, são como formigas, trabalham durante o dia, ninguém vê!
Os chineses não são o problema, a Máfia Chinesa sim.
Em São Paulo a Polícia Federal já prendeu e mandou de volta vários.
hehe
The Chinese buy properties in Portugal that cost more then 500.000euros in order to obtain the so called Golden Visa. A Visa trhat allows then to have residence in Europe.
That's what rich Chinese pay to get out of China ...
As noted before China is the country by far with more rich people willing to get out.