You are here

Chinese dominate auction of Portugal govt properties

They account for almost 1 in 5 foreign property purchases in the country during the first 9 months
Tuesday, November 4, 2014 - 05:50
BT_20141104_CHIN4_1349778.jpg
Lisbon city council and state-owned companies are selling apartments, ground-floor retail space and even entire buildings in prime locations to raise money to repay their debts.

Lisbon

AS bargain-hunters waited in a packed room at a property auction in Lisbon last month, one language dominated their chat: Mandarin.

About 90 per cent of the bidders for the government-owned apartments and stores on offer were Chinese, according to Jorge Oliveira, the