The average price per transaction paid by Chinese buyers of real estate in Portugal last year was over 373,000 euros (about US$454,000), the most paid by buyers of any foreign nationality, the Notícias ao Minuto website reports, citing the findings of a study by the Portuguese Resorts Association.

Among the various sets of foreign buyers last year, only the French, British, Brazilians and Germans spent more than the Chinese on property in Portugal, according to a report carried by the Portuguese website yesterday.

Chinese were the buyers of 443 of the 19,520 properties bought by foreigners, the report says.

It says each euro invested by foreigners in real estate in Portugal adds, on average, seven euros to the value of the economy there.

The study looked at data collected by the Portuguese National Statistics Institute, the European Statistical Office, and the Organisation for Economic Co-operation and Development, the Notícias ao Minuto website says.