Portugal’s Golden Visa programme remains unaffected despite the pandemic

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Portugal’s Golden Visa programme remains unaffected despite the pandemic
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The current worldwide pandemic has motivated many people to re-evaluate their personal circumstances and lifestyle

Economical factors, better protection for their property and assets, immediate profit, rental income and housing appreciation may have prompted investors to purchase real estate in Portugal during the pandemic. In addition to these, health concerns may also have led them to consider their own private healthcare or life insurance cover.

Over the past two to three years, the Portugal Golden Visa programme has seen a brimming growth as applicants became aware of its competitive price points. The habitual €500k Golden Visa was the investor’s top choice, however, in 2020, 31% of the investors chose more affordable options such as the Portugal Golden Visa for €350k, as well as the €280k option and venture capital, three subgroups that have been seeing an avid rise.

Truth be told, programmes around the world have been facing logistical, political and technical struggles during the pandemic, which is negatively impacting the number of applications that could be coming through and being processed. However, Portugal remained unaffected by this scenery and has been able to keep that processing more or less uninterrupted. Hence, Portugal’s Golden Visa programme has stayed flat which is an achievement itself considering the circumstances.

It becomes important to mention that Portugal has emerged as the most attractive path for investment migration, thanks to its low cost of living, low crime rate, ease of doing business and the fact that English is widely spoken in the country.

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All in all, the Portuguese Golden Visa programme appears to remain untouched by the global pandemic, and proof of that are the investments that exceeded on the first third of 2020, administering over €146 million into the country.

The country has had a remarkable outcome considering the negative impact that the Coronavirus outbreak has had on other economies and real estate markets across the world. This also came to prove that although the real estate market goes up and down depending on natural causes such as the pandemic, as well as political and governmental factors, it never actually deteriorates nor declines over time. Read more about real estate as a secure lifetime investment here.

There have been new changes to the Golden Visa programme for 2022 announced by the Government. If you wish to purchase a Portugal Golden Visa in the premium areas of Lisbon, Porto and other central cities, you may do so until the end of 2021. Read our CEO and Managing Director’s full statement and advice here.

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If you’re interested in investing in the Portuguese Real Estate Market, get in touch with us and dive into our wide range of investment properties here!

19th February 2021
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