Currency drop enables Hongkongers to invest overseas

Currency drop enables Hongkongers to invest overseas
Reading time: 6 minutes
Published: 3rd April 2020, 5:32pm

According to property agents, Hongkongers have been even more interested in investing overseas in cities like Lisbon since the coronavirus outbreak

  • Despite the recent Golden Visa changes, Hongkongers are still looking for a new life in Portugal

  • Observers state that countries like Portugal are ideal for those who want to access a post-Brexit Europe

The Portuguese property market is often considered a safe haven for foreign investors. The current climate might attract even more foreign investment than ever to the country, with the drop of major currencies.

Georg Chmiel, executive chairman of Juwai IQI, says that “In almost every market where Hong Kong buyers are significantly active, they can buy property for much cheaper now than just a couple of weeks ago. (...) The economic fallout is pushing other currencies down as investors fled to the safety of the US dollar.”


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According to Bloomberg Market numbers, the dollar was appreciated by between 4.7% and 15.5% this year against top major currencies, like the British pound (£), Canadian dollar, Australian dollar, Euro (€), and Singapore dollar. Many are, therefore, looking to emigrate from the city, but also in hopes to escape the ongoing political and social turmoil since 2019

Ever since the Fed made its first cut on March 3, South Korea, Australia, and the UK also had their benchmark rates lowered so they could sustain their economies.


According to collected data, since the outbreak, the main cities of attraction have been Lisbon, London, and Sydney.

Considering the current situation and uncertainty, foreign investors must take a medium-term view of 3 to 5 years, instead of short-term gains. In fact, queries about foreign investment have risen significantly, compared to the previous year, being Australia the most sought after country, as the currency offers “a golden chance for those who want to leave to buy a home or make an investment”, said Tina Cheng, director of the strategy at Midland Consultancy.

Hongkongers have also shown interest in recent months, as many investors are looking to both invest and relocate to Portugal, despite the recent Golden Visa changes announced by the Government.

We believe that investors from all over the world will still have interest in the Golden Visa programme, as it remains very competitive when compared to other programmes available in Europe, even with options such as the one the British Government has launched for citizens holding British National (Overseas) Visas.

It becomes important to mention that even if investors don’t intend to purchase a €500k Golden Visa, there’s been an increase in the acquisition of real estate through alternative assets. The number of owners picking up the €350k Golden Visa programme or venture capital has substantially increased over the last years. But if you still wish to be away from the city agitation, investing inland has several benefits. You can have a full spectrum regarding the advantages of getting citizenship with a €280k Golden Visa here.

If you wish to purchase in the central areas of Lisbon or Porto, you may do so before July 2021. Watch the video below, where David Poston, Portugal Homes’ Co-Founder, addresses these changes and advises on the best steps moving forward.

Portugal’s capital, Lisbon, is a trendy hotspot when it comes to foreign investment. Having been considered Europe’s hottest real estate market, more and more foreigners are flocking into the country for a quality lifestyle and advantageous tax and citizenship benefits.

Despite facing turbulent times, our teams at Portugal Homes are still working and closing deals over the phone, showing and selling property through videos, using every digital touchpoint to help our avid investors, as well as, bringing liquidity to many developers and private vendors in Portugal’s core cities. 

If you’re interested in investing in the Portuguese Real Estate Market, get in touch with us online and explore our wide range of properties, from beachfront villas to city centre apartments! 

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É fantástico como o Ryan tinha um conhecimento completo sobre Lisboa e nos tratou da melhor maneira.

Akbar Ali - Investidor do Paquistão

Ryan é muito profissional, mas também amigável e conhecedor do mercado Golden Visa. Também se mostrou flexível, pois, com um curto aviso prévio, viajou do Algarve para me se reunir comigo em Lisboa e substituir 1 colega.

Investir do Reino Unido

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Investidor dos EUA

Embora através do Zoom, estabelecemos uma grande confiança na integridade do George. [Foi] importante para nós ter confiança na capacidade do staff em se sentir alinhados em visões.

Donald Collie de Austrália

O processo foi bastante rápido e claro. Obtive toda a informação que precisava na primeira hora de conversa. A experiência foi perfeita.

Tomoko Inoue do Japão

Overwhelming. Luisa has exceeded our expectations on all levels. Trust was established immediately. Enhanced by super friendly professionalism. The networks to banks, accountants, lawyers was seamless. there is not enough space here to write all the positives, enough to say we are making an offer and we only arrived 4 days ago. Its impossible to improve from perfection!

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