Chinese investors are not wasting any time to buy properties in Portugal, reports Atlas Lisboa (25 November 2020), citing a South Morning Post article. Chinese buyers have rushed to purchase property in Portugal’s two major cities before the golden visa program expires in both places at the end of the year. Growing tensions between China and the United States, Australia, and Britain — traditional markets for Chinese investors — have seen a shift in capital towards Portugal. According to proptech company Juwai IQI, search rate for properties by Chinese investors rose by 176%. Property agents say the coming residency-scheme ban in the two cities created a “wave of demand for urgent property acquisition from Chinese buyers".