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.”
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.
Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.
Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!
To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.
It's fantastic how Ryan had complete knowledge regarding Lisbon and dealt with us in a great manner.Akbar Ali - Investor from Pakistan
Ryan is very professional, but also friendly and knowledgeable about the Golden Visa market. He was also flexible as travelled from the Algarve to meet me in Lisbon to stand in for 1 colleague at short notice.Investor from UK
Portugal Homes did a great job keeping me up to date with progress on my new home construction purchase by providing regular and comprehensive reports. This helped to ease anxieties about doing a home purchase in the midst of a global pandemic.Investor from the USA
Although through Zoom, we established great confidence in George's integrity. [It was] important for us to have confidence in the staff's ability to feel aligned in views.Donald Collie from Australia
The process was very quick and clear. I got all the information I needed in the first hour. The experience was perfect.Tomoko Inoue from Japan
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!John Mulroe and Wiebke Bock