Unfortunately, Portugal was not left unscathed by the pandemic bubble but the country has been doing its best to provide a bright spot for its population, whether they’re locals or foreigners, in post-Covid-19 times. Now might also be the best time for investment in Portugal.
Experts believe that because Portugal was already a success as an investment immigration hotspot, the recovery will be stronger than in its neighboring countries during the post-Covid-19. The country’s economic success can be credited to mainly tourism as well as its two “twin engines” of investment in Portugal: the Non-Habitual Residency and Golden Visa programmes.
In recent years, people have been relocating to Portugal also thanks to the Mediterranean wonders the country offers, and the possibility of having the most favourable tax schemes in the EU. It becomes important to mention that Portugal holds one of the strongest passports in the world, and has the 22nd best healthcare system in the world!
The time to make an investment in Portugal is now!
We believe that now is the time to better take advantage of the many opportunities that the world continues to offer, in the sense that diversifying your lifestyle and investment portfolio will make sure you’re prepared for whatever tomorrow brings. Investing overseas, whether through Golden Visa or Non-Habitual Residency, will ensure you’re not reliant on a single government, economy, marketplace, or currency.
With real estate options starting at €280K, you can make the most of your investment in Portugal, i.e., with the same amount as you would invest in another country for only one property, in Portugal you are able to invest in more than one. This is highly beneficial as not only are you able to become a Portuguese citizen, but also have the opportunity to get returns on your investment.
Non-EU residents looking to retire or relocate to Portugal and to be granted Portuguese citizenship may:
invest in real estate with the value of at least €500.000 or above;
invest €280.000 in a low-density area;
invest in a real estate property with a minimum value of €350.000 for the purpose of refurbishing.
Value of property prices
Portugal’s living cost, quality of life and the exceptional value of property prices are also motivations for the ex-pat community to keep growing here and making investments in Portugal.
The purchase of real estate in July totalled €50.3 million (€13.1 million for urban rehabilitation) and €5.7 million for capital transfer.
July saw a drop by 37% in sales, compared to June but nothing is yet lost as still in full confinement, the market was able to maintain an activity level of about half of the pre-COVID, which is still remarkable. It is a sign of the sector’s resilience, which the results of the first third of 2020 confirm. The period of January to May has been heavily compensated by May alone as Portugal Golden Visa investments exceeded, blustering over €146 million (an increase of 192% compared to May 2019 that recorded €50 million).
It becomes important to mention that real estate prices in Portugal also continue to be competitive with those of other Western European countries, especially in the segments of international funds and Portugal Golden Visa investors. Learn more about the requirements to apply for a Portuguese Golden Visa here.
Truth be told, Lisbon is amongst the only four cities that will experience growth over the price level in the segment of luxury real estate, still in 2020, thanks to the way the country is handling the pandemic combined with strengthening demand and limited prime supply. Monaco, Vienna and Shanghai are on the list, too, because of historic supply shortages and because transactions were able to continue in these countries during the lockdown.