Offer foreign homebuyers residency, and they will come

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Sales of homes and apartments to Chinese buyers are up more than 800 percent from a year ago in Latvia. And no, the Chinese haven’t fallen in love with the Baltic nation — most just want temporary residence permits that will allow them to freely travel in Europe, The Baltic Course reports.

Spain will offer residency to high-end homebuyers starting next year, in hopes of boosting home sales to foreign buyers. Portugal adopted a similar program in 2012. The U.S. and Canada will issue visas or grant residency status to foreigners who invest in businesses. Source: baltic-course.com