It’s common knowledge that Brazilians like buying homes in Miami, that Qataris and Russians lust after London, that Brits put their pounds to good use in France and Spain. But thanks to fluctuating currencies and shifting politics, the global luxury market is seeing new relationships spring up between buyers and sellers separated by thousands of miles. Here we take a look at some unusual pairings. From China to Portugal After rivaling the French in their demand for vineyards in Bordeaux, Chinese buyers are now setting their sights on Portugal. Like everyone else, they’re enticed by the sun, sea and sand. There’s also an attractive “Golden Visa” program that grants residency permits for anyone buying a €500,000 home (about $556,000). The Chinese account for 80% of the visas since the program went live in 2012. New buyers may find themselves waiting, however. According to Bloomberg, a backlog in the program may take up to five years to clear.
On the market in Portugal
Portugal Sotheby's International Realty
PRICE: $16.7 million
BEDROOMS: 8
BATHROOMS: 11 This eight-bedroom, 11-bathroom property in Quinta do Lago sits on nearly 1 1/4 acres overlooking the neighboring golf course and the lakes. View ListingMore:China to Ease Limits on Overseas Investments
From Iran to London To say the least, relations between the U.K. and Iran have been frosty for some time. But with sanctions now lifted against Tehran, London’s luxury realtors are gearing up for wealthy Iranians on the hunt for a pied-à-terre. Iranians will be considering several cities, but Becky Fatemi, managing director of Rokstone, argues that London will be at the top of their list due to deep historical ties between the two countries.
On the market in London
Christie’s International Real Estate
PRICE: $18.47 million
BEDROOMS: 7
BATHROOMS: 3 Built in 1843, this detached villa on the bank of the Regent’s Canal has one of the most desirable addresses in Little Venice. View ListingMore:Wealthy Iranians Poised to Spend Billions on Property Around the World
From South Africa to Malta Malta is popular among wealthy South Africans, as it offers a gateway to Europe. Through the Individual Investor Programme, South Africans can eventually gain citizenship in return for a minimum contribution to infrastructure and development (about $740,000 per person). However, the applicant must first have somewhere to live for five years, either through buying a home worth a minimum of €350,000 (about $400,000) or through renting. Once they’ve secured citizenship, they can work and study in any EU nation.
On the market in Malta
Malta Sotheby's International Realty
PRICE: $10 million
BEDROOMS: 4
BATHROOMS: 8 This three-story detached villa boasts a terraced roof garden and pool area, and is within walking distance to the sea. View ListingMore:Malta's Positive Outlook
From Venezuela to Madrid Cash-rich Venezuelans have long been fans of Miami in their search for a safe haven for their money (and a safer living environment). These days, they’re starting to look more closely at Madrid. Spain’s benefits include a shared language and fairly priced high-end properties, as compared to elsewhere in Europe. Additionally, because many Venezuelans already hold their savings in U.S. dollars, the weak euro makes their money go further.
On the market in Madrid
Kristina Szekely Sotheby´s International Realty
PRICE: $2.09 million
BEDROOMS: 3
BATHROOMS: 3.5 This beautifully designed three-bedroom apartment is in Madrid’s Las Cortes neighborhood. View ListingMore:How to Buy Luxury in Madrid